Bulls make a comeback; Nifty closes above 5k

The bulls made a comeback today (November 11) at the bourses. The Bombay Stock Exchange benchmark 30-share index, Sensex leaped by 409 points today on the back of aggressive buying on the part of funds in blue-chip stocks, particularly software exporters. The index also got support from positive global cues reflecting signs of recovery in global economic growth.

While the pevious session of Sensex witnessed losses, the benchmark 30-share index rebounded today, to settle the day higher by 409.04 points at 16,849.60, a level previously observed on October 23. Likewise, the National Stock Exchange index Nifty jumped by 122.25 points to regain the 5,000-point level.

The Sensex ended the day with a gain of 409.04 points, or 2.49% at 16,849.60 after touching a high of 16,887.80 and a low of 16,405.19. The broad-based NSE Nifty climbed 122.25 points, or 2.50% at 5,003.95 after hitting a high of 5,016.70 and a low of 4,870.05.

All shares in the Sensex settled with gains. Major were Sterlite Industries (India) (6.50%), Jaiprakash Associates (6.27%), Reliance Energy (5.31%), Tata Motors (4.68%), Tata Steel (4.28%), and Infosys Technologies (4.08%).

Overall market breadth was positive. Out of the total 2,817 stocks traded at BSE, 1,726 advanced, 1,004 declined while 87 remained unchanged.

All sectoral indices settled positive. BSE Metal went up 4.27%, IT went up 3.94%, TECk climbed 3.36%, Consumer Durables went up 2.37% and Capital Goods rose 2.36%.