Markets

Sensex up 119 points; IT, TECk stocks steal the show

Our Bureau Mumbai | Updated on December 27, 2013

Markets closed on a positive note on Friday with the benchmark Sensex closing at 21,193, up 119 points or 0.56 per cent. The Nifty too closed at 6,314 up 35 points or 0.56 per cent.



On the BSE, all sectoral indices closed in the green except oil and gas and auto sector which closed lower by 0.42 per cent and 0.09 per cent respectively.



Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities said: “With positive global cues, the Sensex saw a strong performance with support by banks and IT stocks. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers. However, oil & gas and auto stocks were under selling pressure."



"The action has shifted to midcaps. Going ahead as we end the year, we may see further action in midcap names on account of Net Asset Value shoring. Beyond that, momentum in FII flows would determine market direction," he added.

Volatility was down with the India VIX index closing at 14.66, down 1.48 per cent.



TCS, NMDC, Kotak Bank, Cipla and Wipro were the top five Nifty gainers while JP Associates, Maruti, Reliance, Asian Paints and Ultratech Cements were the top laggards.





Published on December 27, 2013

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