What a fantastic finish to the November F&O series. It was a day where long rollovers in the high beta sectors like Real Estate, Infra and Auto and the defensive Pharma stocks lifted the markets to hit the highest level in the calendar year 2012.
While, some heavy short covering in the Banking sector towards the fag end of the session saw the NSE Nifty close above the 5800 mark for the first time in the year 2012. Even the Sensex breached the 19,000 levels for the first time in nearly two-months on expectations that the government would be able to push through economic reforms. Adding to the bullish flavor, credit rating agency Moody’s on Tuesday said the outlook on India rating was stable.
Moody's said the stable outlook on the country's Baa3 rating was based on its structural strengths of a high household savings rate and relatively competitive private sector, which could help raise growth in coming years.
Finally, the BSE Sensex closed at 19170, surging 328 points over the previous close. It had earlier touched a day's high of 19205 and a day's low of 18873. It opened at 18873.
The NSE Nifty was quoting at 5,825, up 98 points over the previous close. It earlier touched a day’s high of 5,833 and a day’s low of 5736. It opened at 5,736.
RIL, TCS, Wipro, ICICI Bank, Bajaj Auto, Tata Motors, ITC, Bharti Airtel, SBI, L&T, Ranbaxy, Tata Power, NTPC, Dr Reddy’s Lab, HDFC, Coal India, L&T, are among gainers in Sensex and Nifty.
Infosys, BHEL, NTPC, Maruti Suzuki, Hero MotoCorp, Siemens, Power Grid, HCL Tech, are among losers in Sensex and Nifty.
The INDIA VIX on NSE surged 10% to end at 15.37. It hit a day’s high of 15.62 and a day’s low of 13.48.
Today’s noteworthy rally was seen on the back of life time high turnover over 3.92 lakh crores turnover was registered on the bourses. For the Series, the NSE Nifty and the BSE Sensex ended higher by 2.1% each.
Top gainers in the November F&O series
Globally, most Asian markets ended with smart gains. Except for the Shanghai Composite index in China all the other Asian equity indices ended with gains.
The Hang Seng index in Hong Kong ended with gains for the first time in the past three trading session. The index gained 1%. The Nikkei index in Japan was up 1%, the Straits Times rose 1.1%, Kospi index added 1.1% and Taiwan index rose 1%.
In Europe, stock markets opened higher tracking gains in Wall Street after optimistic comments from President Barack Obama about reaching a deal over the fiscal cliff.
The FTSE index in UK was up 1%, the DAX index in Germany gained 0.9% and the CAC index in France gained 1.1%.
Other Corporate News
TCS won a multi-million, multi-year contract from the Home Office, a key department of the United Kingdom government to manage the technology needs and support services of the newly formed Disclosure and Barring Service (DBS).
Shares of GMR Infrastructure was under pressure after Government of Maldives issued a notice to the GMR Male' International Airport Ltd intending to take over the possession and control of the Ibrahim Nassir International Airport under the pretext that the Agreement is void.
Cinemax India announced that Company has been informed by its promoters that, they have entered into a definitive sale agreement with PVR Limited (through Cine Hospitality Private Limited, its wholly owned subsidiary) for the sale of their entire stake of 69.27% (sixty nine point two seven per cent) in Cinemax India Limited.