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Sensex ends up 20 pts

Metal, IT shares gain while banks decline

Read more on:    Sensex | Bse | Nse | Stock Market
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The has ended (provisional) at 18,526 - up 20 points. Nifty ended up 4 points at 5,631.
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(Updated at 1436 hrs)

Markets continued to trade in the green, albeit off the day's highs. The Sensex has advanced 38 points to 18545. Nifty is up 10 points at 5,637.

Experts feel that the market will remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month November 2012 series to December 2012 series.

"Well we are looking at 5650 to sustain on upside, for any futher momentum to be seen on nifty, its crucial resistance zone 5650-5670 any break above these levels 5750 next target seems to be touched," said Navneet Daga, Derivative Analyst, KR Choksey Securities.

FIIs bought shares worth a net Rs 366.37 crore on Friday, 23 November 2012, as per provisional data from the stock exchanges.

Meanwhile in Asia markets ended mixed. Nikkei added 22 points to 9,389 after minutes of last month's Bank of Japan policy meeting showed members calling for wider monetary easing. Investors hoped that Greece can avoid a near-term bankruptcy.

Metal stocks have surged after LMEX, a gauge of six metals traded on the London Metal Exchange gained 1.18% on Friday. BSE metal index gained 1.3% to 9,934. Consumer durables index led the sectoral gainers list - up 2%.

IT stocks rose across the board on recent positive economic data in US. US is the biggest market for IT service firms. BSE IT index added 1% to 5,791. wipro was up 1.7% at Rs 373. Infosys added 1.3% at Rs 2,406.

Tata Steel rose 2% at Rs 372 after company after market hours on Friday announced restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets.

Ranbaxy Laboratories traded flat at Rs 497. It has issued 5,000 Secured 9.20% Redeemable Non-Convertible Debentures of face value of Rs 10 lakh each, for cash at par, aggregating Rs 500 crore, on a private placement basis, for general corporate purposes.

Eros International Media soared 10% to Rs 201, extending Friday’s 10% rally, on hopes that the company engaged in the business of film production and exploitation may report good performance in the second half (October-March) of current financial year 2012-13.

BSE market breadth was positive. Out of 2847 stocks traded, 1,494 shares advanced while 1214 shares declined.

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