December 26, 2011 / 11:34 IST
The Sensex rallied 200 points, while the Nifty surpassed the 4,750 level led by broadbased buying. Banks, telecom, capital goods, technology and auto lend major support. The Sensex was up 201.5 points at 15,940.23 and the Nifty gained 58 points at 4,771.85. The broader indices too moved up 1%.
As far as the market remains above 4,640, Sudarshan Sukhani of s2analytics.com expects the market to be in some kind of a rally mode. His target for the market is between 4,800-4,850. He advices traders to book profit at those levels.Index heavyweights Reliance Industries, Infosys, TCS and L&T gained 1-2%. Among the banks, HDFC Bank, ICICI Bank and SBI were up 1.4% each. HDFC too was up over 1%.Shares of telecom major Bharti Airtel topped the buying list, rising 3% after TDSAT stayed DoT 3G roaming ban order, which said no coercive steps should be taken against companies until order. Reliance Communications was up 2%.Among the others, Tata Motors, HUL, Hero Motocorp, BHEL, Tata Steel, M&M, Sterlite, Maruti and DLF jumped 1-2%.At 9:19 hours IST : Sensex bounces back; telecom, tech, capital goods upThe Sensex opened with 40 points gap up on first day of the week, led by support from telecom, technology, capital goods and metals stocks. Asian markets are quiet to mixed amid less volume due to Christmas holiday, but the US markets closed 1% higher on Friday post Congress move and positive macro data.The Sensex was up 86.5 points at 15,825.22 and the Nifty rose 26.35 points to 4,740.35.Shares of SAIL, SBI, Reliance Industries, Maruti Suzuki, HUL, BHEL, Coal India, Axis Bank, L&T, Tata Steel, ICICI Bank, Infosys and TCS were supporting the market.Telecom stocks moved up after TDSAT stayed DoT 3G roaming ban order and said no coercive steps should be taken against companies until order. Idea shot up 3% while Bharti and Reliance Communications were up 1.5%.The CNX Midcap was up just 12 points at 6,200. The market breadth was positive; about 519 shares gained while 323 shares dropped. GVK Power shot up 10% after Changi is going to buy 26% in company
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