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Sensex rebounds above 19,000

Indian shares rose on Tuesday as some upbeat results and higher global markets helped to boost the sentiment. Sensex gained 209.80 points to finish at 19,092.05.

twitter-logoPTI | January 21, 2011 | Updated 13:11 IST

Indian shares rose on Tuesday as some upbeat results and higher global markets helped to boost the sentiment. Sensex gained 209.80 points, or 1.1 per cent, to finish at 19,092.05. On the NSE, Nifty advanced 70 points, or 1.23 per cent, to finish at 5,724.05.

The gains in the broader markets were however muted with the BSE midcap stocks gaining 0.45 per cent and smallcap index advance 0.28 per cent.

The gains were led IT stocks, boosted by strong earnings from TCS, which gained 5.5 per cent. Other IT stocks Wipro and Infosys gained 2.8 per cent and 1.6 per cent respectively.

Metal stocks too saw strong gains with Sterlite Ind gaining 4.4 per cent and Jindal Steel advancing 3 per cent. Among other major gainers Cipla, ITC and JP Asso rose nearly 2.5 per cent each.

Elsewhere, Axis Bank, which posted strong results, surged 4.2 per cent. HCC fell nearly 4 per cent on concerns over the Lavasa project.
World stock markets were mostly higher Tuesday as finance ministers met for a second day to revamp Europe's debt-crisis strategy.

The finance ministers of the 17 euro zone countries met in Brussels on on Monday but acknowledged being weeks away from agreeing on how to overhaul a €750 billion ($1 trillion) bailout fund to better deal with the region's crippling debt burden.

Wall Street appeared headed for a muted opening. Dow futures were up 0.1 per cent to 11,739 and broader S&P 500 futures were flat at 1,289.

European bourses made some sizable gains in early trading. Britain's FTSE 100 was 0.9 per cent higher at 6,039.33. Germany's DAX rose 0.7 per cent to 7,130.45 and the CAC-40 in Paris was up 0.8 per cent to 4,006.05.

While European benchmarks were largely up, the picture was more mixed in Asia. Japan's Nikkei 225 stock average closed up 0.2 per cent at 10,518.98. Hong Kong's Hang Seng index fell slightly, less than 3 points, to 24,153.98 while South Korea's Kospi was 0.2 per cent lower at 2,096.48.

Australia's S&P/ASX 200 closed 0.8 per cent higher at 4,801.80 and Chinese shares edged up as investors awaited Thursday's release of key economic data for the fourth quarter of 2010.

The benchmark Shanghai Composite Index added 0.1 per cent to 2,708.98. Benchmarks in Taiwan, and Singapore also advanced. Shares in New Zealand, Indonesia and the Philippines fell.


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