Markets end on a strong note
Nifty ends above 5,700
Markets ended today's session on a strong note on the back of broad based buying ahead of the F&O expiry due on Thursday. The Sensex provisionally closed higher by 295 points at 18,831 and the 50-share Nifty closed higher by crucial psychological levels of 5,700, up 91 points to end at 5,727.
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(Updated at 1440 hours)
Markets continue to trade on a firm note in the late noon deals on the back of buying visible across the board. The Sensex is up 253 points at 18,789 and the Nifty is up 74 points at 5,710.
The Asian markets ended on a mixed note in trades today as global lenders reached a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid. The Hang Seng ended lower by 18 points at 21,844 and Shanghai Composite slipped 26 points to end at 1,991. While, Nikkei advanced 0.4% or 34 points to end at 9,423, Straits Times and Seoul Composite also closed on a positive note.
The European markets were also trading on a positive note on the news from Greece that the lenders reached a deal a deal to reduce Greek debt and disburse the country's next aid installment. The CAC40, DAX and FTSE were trading higher by 0.5-0.7% each.
Back home, Moody's said on Tuesday that the outlook on its Baa3 rating for India is stable, in part due to the country's high savings and investment rates, as debate rages in Delhi over whether the country can avoid credit downgrades from other rating agencies.
In its annual credit analysis on India, which Moody's said does not constitute a rating action, the agency also cited the country's large, diverse economy and strong gross domestic product growth as supportive of the rating.
Shares of HDFC Group companies - Housing Development Finance Corporation (HDFC) and HDFC Bank has surged almost 3% each on the Bombay Stock Exchange (BSE) on back of heavy volumes.
HDFC Bank, a unit of HDFC, is trading at its historic high up 3.2% at Rs 684, after the bank’s American depository receipt (ADR) gained 2.38% to settle at $41.23 on the New York Stock Exchange on Monday, 26 November 2012.
Shares of metals companies are trading higher on the bourses after LMEX, a gauge of six metals traded on the London Metal Exchange (LME), rose over 1% in the previous two sessions. Sterlite Industries, Hindalco and Jindal Steel are trading higher by 1.5-3% each.
Tata Steel is also trading higher by 1.4% at Rs 376 after the company late Friday announced restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets.
Among the other gainers, Bharti Airtel, Cipla, ITC, Infosys, Reliance Industries, Tata Motors, Bajaj Auto, ICICI Bank, Dr Reddy's Labs, SBHI, BHEL and Wipro are also trading higher in the late noon deals.