Sensex zooms 767 points, Nifty scales 18,100; IT, capital goods shares top gainers

Indian market snapped three-day losing streak today, backed by gains in IT and capital goods stocks. Sensex ended 767 points higher at 60,686 and Nifty rose 229 points to 18,100. Tech Mahindra was the top Sensex gainer, rising 4.06 per cent, followed by HDFC, Infosys , Bajaj Finserv, Bharti Airtel and Asian Paints.

Bajaj Auto, Tata Steel, Axsi Bank and NTPC were among the top Sensex losers, falling up to 3.04%. Of 30 Sensex stocks, 25 ended higher.

IT and capital goods shares led the gains today. BSE IT and capital goods indices ended higher by 691 points  and 353 points, respectively.

All 19 BSE sectoral indices ended in the green.

BSE mid-cap and small-cap indices rose 149 points to 26,368 and 73 points to 29,232, respectively.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "After a long time, Nifty has succeeded to close above 18,000, which is broadly positive for the market. On daily charts, it has formed a higher bottom that also supports further uptrend. The short-term support has shifted from 17850 to 18000 level. For the trend following traders, 18,000 would be the sacrosanct level. As long as the index is trading above the same, the uptrend wave will continue up to 18,200-18,400 while on the other hand, a close below 18000 could increase further weakness till 17,850-17,650."

Market cap of the BSE-listed firms rose to Rs 270.14 lakh crore today. On November 11, the market cap stood at Rs 267.38 lakh crore.

The market breadth was marginally positive with 1,663 shares ending higher against 1,650 stocks in the red. 151 shares were unchanged.

Foreign institutional investors (FIIs) sold shares worth Rs 1,637 crore on November 11, and domestic institutional investors (DIIs) bought shares worth Rs 445 crore, as per provisional data available on NSE.

During the week, Sensex surged 619.07 points or 1.03 per cent, while Nifty advanced 185.95 points or 1.03 per cent.

"The momentum which was lost during the week was regained as inflation worries started fading with investors shifting their focus to good quarterly earnings, economic recovery and strong domestic macro data points, said Vinod Nair, Head of Research at Geojit Financial Services.

On Thursday, Sensex ended 433.13 points lower at 59,919 and Nifty fell 143.60 points to 17,873.60. SBI was the top Sensex loser, shedding 2.83 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.

Major indices in Europe were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 1.07 per cent to $81.98 per barrel.