The markets have closed the session on a strong note as decline in Inflation numbers boosted the markets sentiments and giving the positive signals to the government measures to control inflation. Positive global cues also fueled to the sentiments. Realty, technology, metal, banking and telecom stocks outperformed the markets. All BSE indices ended in green. Market breadth remained positive; nearly 4:1. On the global front, Asian markets closed strong.
The Sensex rose by 237.01 points or 1.46% to settle at 16481.20, and the Nifty up 71.10 points or 1.45% at 4958.40. Market breadth was positive; about 2062 shares have advanced, 776 shares declined, and 237 shares remained unchanged.
Markets have rallied for fourth consecutive days. Overall, it was a spectacular week for the markets. Week started with strong technology news as tech giant, Infosys Technologies reported good earnings, and shown that rupee appreciation and subprime crisis have not impacted its earnings. It is an positive indication for other tech companies.
Other news from IT ministry that STPI concession may be extended for small & medium IT companies also pushed midcap and small companies shares higher.
Turnover for the day reported at Rs 64280.63 crore including Rs 15118.92 crore from NSE cash segment, Rs 6700.43 from BSE cash segment and the balance Rs 42461.28 from NSE F&O segment.
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