Mumbai, Dec 1: The markets saw another spectacular session led by positive global cues as Dubai's concerns ease and short covering.
The Sensex closed at 17,199, up 273 points and the Nifty was at 5,121, up 89 points, as per provisional data. About 1,054 shares advanced while 219 shares declined on the NSE.
The rally was seen across all sectors and in high beta stocks; rate sensitives, pharma and metal stocks, and Reliance Industries were the major gainers.
Nifty inching towards 5100 mark; auto, realty up
At 01.04 am the Nifty continued to hold its gain as strong buying was seen in realty, pharma, auto, and metal stocks. Banks, oil and gas, power and capital goods stocks.
Stocks like Reliance, ICICI Bank, L&T, HDFC and SBI were the positive contributors to the Sensex.
The Sensex was up 165.20 points or 0.98 pc at 17,091.42, and the Nifty was up 61.25 points or 1.22 pc at 5,093.95.
The market's breadth was positvie, about 2,046 shares advanced, 815 shares declined, and 572 shares were unchanged.
In the largecap space, top gainer on the Sensex was Sun Pharma up close to 4.5 pc. DLF, Tata Motors, Sterlite Inds and Hindalco were up 2-4 pc.
On the losing side, Hindustan Unilever was the top loser down 2 pc. Next on the list were BHEL, Infosys, ITC and TCS down less than 1 pc.
Broader indices outperform; realty, auto gain
At 11:03 am, the Nifty was holding the 5,050 level on the back of buying interest in metal, telecom, oil & gas exploration, realty, auto, cement, select infrastructure and banking stocks.
The Sensex went up 122 points to 17,049 and the Nifty rose 39 points to 5,072.
The broader indices were outperforming the benchmark indices, up 0.9-1.3 pc, as about 935 shares advanced while 257 shares declined on the NSE.
In the midcap space, Torrent Pharma, Cadila Health, KGN Industries, Sterlite Tech and Jaiprakash Hydro went up 4.5-7.5 pc. However, REI Six Ten, Jain Irrigation, Bannariamman, Indiabulls Financial and Kansai Nerolac slipped 1.4-2.7 pc.
In the smallcap space, Money Matters, Action Construction and Jindal Cotex gained 9.6-11.7 pc while IndiaNivesh lost 17 pc. Kanani Industries, Zodiac Clothing, WABCO-TVS and Lloyds Metals declined 3-4 pc.
Positive Asian markets were also supportive to the benchmark indices. Nikkei rose 1.6 pc. Hang Seng, Straits Times, Kospi, Taiwan Weighted and Jakarta gained 0.5-0.9 pc. However, Shanghai was flat.
Sensex opens above 17000 on positive global cues
The Sensex opened on a positive note and jumped back above the 17,000 mark on the back of positive global cues. The Nifty was trading above the 5,050 level, as metal, realty and telecom stocks supported the index.
At 9:56 am, the Sensex rose 98 points to 17,025 and the Nifty gained 30 points at 5,063. The CNX Midcap rose 57 points to 7,206, as about 600 shares advanced while 70 shares declined on the NSE.
Sterlite Industries, Tata Motors, HCL Tech, Siemens, Unitech, SAIL, Maruti, M&M, Sun Pharma, Hero Honda, Bharti Airtel, Jindal Steel, Idea Cellular, Reliance Communications, HDFC and DLF were gainers in early trade.
However, HDFC Bank, HUL and Cipla were losers.
Asian markets were trading higher. Hang Seng, Nikkei, Straits Times, Kospi, Taiwan Weighted and Jakarta went up 0.5-1.4 pc. However, Shanghai was flat.