Market mayhem ends; Nifty recovers 200 pts in 3 days
14 Dec 2010
The Nifty ended on a positive note after weak start in the opening bell. The pullback rally which started on Friday further gained strength today. The Nifty is now slowly inching towards 6000 mark after testing lows of 5740 on Friday.
The Sensex shut shop at 19784.88 up 93.10 points or 0.47% and the Nifty closed at 5940.20 up 32.55 points or 0.55%. About 1964 shares advanced, 974 shares declined, and 522 shares remain unchanged.
Asian stocks advanced on Tuesday, supported by optimism that China would avoid aggressive moves to curb inflation that could inhibit its strong economic growth and blunt its voracious demand for raw materials.
The euro hovered near three-week highs against the dollar, with traders citing solid buying from accounts, including Asian central banks, though year-end trading was thin and choppy.
BSE Consumer Durables index was the top gainer with close to 3% gain. Buying was also seen in metal, PSU, realty and capital goods stocks.
Top gainers on the Nifty: Sterlite Industries, Ranbaxy Labs, Reliance Infra, Tata Steel and Tata Motors were up 2-3%.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
