Sensex gains 11.3% in Jan, best since Sep 2010

The Sensex ended above 17,000 on Tuesday led by ICICI Bank to end January 2012 with a gain of 11.3% the benchmark index's best ever monthly performance since September 2010 and best January gains in 18 years.

The 30-share Sensex ended up 336 points at  17,200  and the 50-share Nifty ended up 112 points at 5,200.

This is Sensex second best monthly performance since September 2010 when it had gained 11.7% and
best performance in the first month of a calendar year after it had surged 19.4% in January 1994.

 

____________________________________________

(Updated at 14:18 hrs)

Markets continue to maintain the strong momentum led by broadbased buying among sectors like Banks, Oil & Gas and Technology.
Positive beginning of the European markets and firm closing of the Asian markets has also cheered the sentiments among local investors.

At 14:20 PM, the Sensex was at 17,065, up 202 points and the Nifty gained 66 points at 5,153.

ICICI Bank has rallied 5% to Rs 894 after it reported 20% year-on-year (y-o-y) growth in net profit at Rs 1,728 crore for the quarter ended December 2011, compared with Rs 1,437 crore in a year ago quarter. Among other financial and banking shares, SBI, HDFC Bank and HDFC have gained between 1-3%.

Index heavyweight Reliance Industries has gained over 2% as the company's share buyback programme starts from tomorrow, 1 February 2011.

From the Metal space, Hindalco and Jindal Steel have gained between 2-3%.

IT stocks like Infosys, TCS and Wipro have increased by almost 1% each.

Interest rate sensitive Realty stocks gained on expectations that the central bank will start cutting interest rates in the coming months to prop up slowing economy. DLF has increased by almost 3%.

From the Auto space, Bajaj Auto, Tata Motors, M&M and Hero MotoCorp have gained between 1-3%.

However, HUL and Maruti Suzuki have declined by almost 2% each.

The broader markets are performing t in line with the benchmark indices, gaining by over 1%.

The overall market breadth in BSE remains firm with 1,605 shares advancing and 1,090 shares declining.