Sensex ends 149 points up; Nifty above 7,800-mark; GAIL top gainer

The domestic markets ended higher, rebounding from near seven-week lows hit earlier on Monday after Wholesale Price Index (WPI) inflation dropped for a 12th straight month in October and came in at negative 3.81 per cent as compared to negative 4.54 per cent in September.

The S&P BSE Sensex settled 149.57 points up at 25,760.10, while CNX Nifty ended the day above its key 7,800-mark at 7,806.60, up 44.35 points, although sentiment remained jittery after the attacks in Paris by suspected Islamist militants.

Market breadth turned positive with 23 of the 30 Sensex components ending the day in green.

The gains in benchmark indices were led by banking and consumer durables stocks. The BSE bankex was the top sectoral gainer, and ended the day 1.51 per cent up. Federal Bank and SBI contributed most of the gains in the index.

The attacks in Paris come as domestic markets have fallen for three consecutive weeks on the back of disappointing earnings results and heavy foreign selling. Foreign investors have sold about $380 million in November according to regulatory data.

"There is no positive macro-economic data and global cues are negative. What we are seeing today is a dead-cat bounce, it doesn't mean the market is very positive," Alex Mathews, head of research at Geojit BNP Paribas said.

GAIL was the top gainer on the Sensex and ended the day 4.2 per cent up.

Tata Steel added 3.44 per cent after the steel major received green clearance for mining of mineral sand, used in coal production, from the riverbed of Gowai in Purulia District, West Bengal.

SH Kelkar, which marked its market debut on Monday, ended the day 15.16 per cent up after hitting an intraday high of Rs 222.70, up 23.72 per cent against the issue price.

Asian peers skidded in the wake of deadly attacks in Paris. Japan's Nikkei tumbled 1.04 per cent at close after latest economic data showed Japan's economy slipped back into recession in the July-September quarter, contracting at a 0.8 per cent annualised rate, while China's Shanghai Composite ended with an uptick of 0.73 per cent, and Hong Kong's Hang Seng settled 1.72 per cent lower.

On Friday, Wall Street posted steep losses and capped off its worst week since the dark days of August. The Dow lost 3.7 per cent for the week, the S&P 500 shed 3.6 per cent and the Nasdaq declined 4.3 per cent.

Lowdown on markets today

02:46 pm

Sensex at 25,848.49, up 237.96 points

Nifty at 7,833.90, up 71.65 points

01:03 pm

Sensex at 25,708.11, up 97.58 points

Nifty at 7,786.95, up 24.70 points

11:13 am

Sensex at 25,629.21, up 18.68 points

Nifty at 7,763.65, up 1.40 points

9:24 am

Sensex at 25,543.69, down 66.84 points

Nifty at 7,741.85, down 20.40 points

(With inputs from agencies)