Indian markets today shunned off their worries, ranging from fear of QE tapering to domestic fiscal sickness, and glittered throughout the trading session before ending the week in high spirits. Both the benchmark indices, Sensex and Nifty, kicked-off the day on a positive note with opening approx. 0.5% over the previous close and very soon scaled the heights before closing 2.29% and 2.37% up respectively. Broad-based index Nifty breached the 6200 level and touched the intra-day high of 6201.45 before closing at 6189.35, up by 143.50 points, close to year high. Sensex also traveled towards 21000 level but stopped way below making intra-day high of 20926.82 and closed at 20882.89, up by 467.38 points, marking its highest close since November 2010.
Markets said good riddance today to the prevailing worries over previous two sessions and tracked down the global markets which rose to a five-year high on expectations that the Federal Reserve will keep its stimulus in place for longer following the confidence-sapping U.S. fiscal impasse. China's GDP number also bolstered the markets as their economy in the third quarter grew 7.8%, at the fastest pace in the year. And finally, FIIs also played the key role in this surging spree as they bought 11.09 billion Rupees ($181 million) worth of Indian shares on Thursday, a tenth consecutive session of purchases that made them net buyer in the markets totaling to 78.47 billion Rupees ($1.28 billion).
All the sectoral indices enjoyed the jubilant mood today with rate-sensitives and metals leading from the front. Bank Nifty hold the baton and marched ahead of all gaining by 3.95% and cheerfully chased by CNX Finance (3.54%), CNX Metal (3.34%), CNX Realty (3.04%), CNX PSU Bank (2.73%) and CNX Service (2.51%).
Market breadth on the NSE remained one-sided positive all along the day with 727 gainers against 437 losers and 65 closing without any change.
Out of 50 stocks of Nifty, 49 advanced and 1 declined.
Top Five Nifty gainers: Among Nifty stocks, IndusInd Bank gained the most and closed 6.39% up and followed by Tata Steel (6.09%), SSLT (5.97%), Axis Bank (5.55%) and J P Associates (5.14%).
Top Five Nifty Losers: Only one stock end up losing on Nifty today, as Bajaj Auto closed -0.02% lower than the previous close.
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