MARKET INSIGHTS: On Tuesday Dec 14, 2010, The Indian equity markets ended the day with decent gains after trading in tight range throughout the day tracking mixed global cues. The BSE Sensex and the NSE Nifty traded above their crucial mark of 19,700 and 5,900 respectively during most part of the session. Earlier in the morning, the benchmarks opened on a positive note ahead of release of November inflation data but profit booking resulted in reversal of early gains and led the indices into red for some time. Meanwhile, the benchmark indices recovered from their day's lows to once again turn positive and started trading flat on the back of mixed global cues as US markets closed flat overnight and Asian markets too were trading on a mixed note. The trade remained range bound till mid morning session but afterwards the markets gained strength as concerns over interest rate hike in near term by the central bank subsided after latest data showed fall in inflation in November 2010. It was the final hour of trade during which the benchmarks changed their gears and touched the intraday highs on the back of buying interest in several blue-chip stocks buoyed by the positive sentiment.
The BSE Sensex advanced 107.41 points or 0.55% to settle at 19,799.19 (Provisional) while the S&P CNX Nifty rose 32.30 points or 0.55% to end at 5,939.95 (Provisional). The BSE Sensex touched a high and a low of 19,836.82 and 19,621.41 respectively. There were 18 advances against 12 declines on the index. The S&P CNX Nifty touched a high and a low of 5,953.95 and 5,888.75, respectively (Provisional). There were 33 advances against 16 declines on the index. (Provisional) In the BSE sectoral space, Consumer Durables up 3.14%, Metal up 1.60% PSU up 0.97%, Realty up 0.95% and Capital Goods up 0.93%, remained the major gainers while Auto down 0.20% remained the only laggard on the BSE sectoral space. The broader indices ended in the green zone; the BSE Mid-cap index climbed 1.52% while the Small-cap index jumped 1.62%. There were 1491 advances against 1189 declines on the index. (Provisional) All Asian markets barring Jakarta Composite and Straits Times finished the day's trade in the positive terrain as increasing commodity prices boosted raw material shares. Shanghai Composite gained 4.12 points or 0.14% to 2,927.08, Hang Seng jumped 113.58 points or 0.49% to 23,431.19, KLSE Composite was up 0.79 points or 0.05% to 1,510.58, Nikkei 225 rose 22.88 points or 0.22% to 10,316.77, Seoul Composite increased 12.46 points or 0.62% to 2,009.05 and Taiwan Weighted advanced 3.84 points or 0.04% to 8,740.43. On the flip side, Jakarta Composite was down 2.57 points or 0.07% to 3,689.67 and Straits Times decreased 5.41 points or 0.17% to 3,176.91.
