Sensex ends up 227 pts led by IT

Benchmark share indices ended higher Monday led by software majors  along with index heavyweight Reliance Industries and telecom major Bharti Airtel..

The 30-share Sensex provisionally ended at  15,966 up 227 points or 1.4% and the 50-share Nifty ended at 4,776  up  62 points or   1.3%.
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(Updated at 14:35PM)

Markets extended gains on sustained buying by investors. POsitive cues from Asian peers also helped to cheer sentiments. The Sensex touched a high of 15,969 - up 230 points. Nifty was up 65 points at 4,779.

Markets are likely to be volatile this week as traders roll over positions in futures & options (F&O) segment on Thursday.

Elsewhere in Asia, Nikkei surged 1% to 8,479 as it tried to catch up with the global rally after Friday's holiday. Meanwhile, Seoul Composite and Shanghai Composite dropped 0.5% each.

All the sectoral indices were in the green with IT index gaining 1.4% to 5,756. Realty, auto and power indices also moved up.

IT shares gained an increase in US November durable-goods orders. US is the biggest market for IT companies. TCS surged 2% to Rs 1,178. Infosys added 1.3% followed by Wipro - up 1%.

Telecom stocks moved up after TDSAT stayed DoT 3G roaming ban order and said no coercive steps should be taken against companies until order. Idea shot up 4% to Rs 82 while Bharti surged 3% to Rs 341. Reliance Communications was up 4% at Rs 70.

Amongst other shares, GVK has zoomed after reports that Singapore’s Changi Airport may take a stake inj GVK Airports for Rs 2,200 crore.

ARSS Infrastructure Projects is locked in 5% upper circuit at Rs 115.75 for the second straight session after its board approved the proposal of Corporate Debt Restructuring System (CDR System).

Reliance Communication has gained by 2.2% at Rs 68 on reports that the company is in the final stages of talks to sell its tower unit.

Pantaloon Retail and Lovable Lingerie have gained between 1-2% on short covering.

IRB Infra has gained 1%.  NHAI has terminated concession agreement of four laning of Goa/Karnataka border to Panaji.