Sensex on a winning spree; gains 133 points

In a day of volatile trade, the Bombay Stock Exchange barometer Sensex ended the day with a smart gain of 133.04 points at 20,389.07.

Similarly, buying in the Realty and the IT stocks lifted the National Stock Exchange's wide based Nifty to end above the 6,100 level at 6,101.85, up 41.50 points or 0.68 per cent from previous close.

Marketmen said investors bought stocks with strong fundamentals and showed optimism as they carried forward their positions in the derivative sector on the settlement day.

Their hopes of better returns in the coming days triggered the upswing on the street, they added.

"Rise in the food inflation to a 10-week high of 14.44 per cent for the week ended December 18 failed to spoil the party on the bourses as investors made bargain hunting at attractive levels," Geojit BNP Paribas Financial Services Research Head Alex Mathews said.

Buying interest in IT bellwether Infosys Technologies, which carries the maximum weight on Sensex after RIL, was instrumental in the overall gain, as the scrip hit a record high -- up 1.21 per cent.

"IT counters rallied on fresh buying in January futures on hopes of smart third quarter results," Mathews added.

Another major attraction was the mortgage lender HDFC, which advanced by 1.39 per cent.

Biggest power producer NTPC advanced to a two-month high by adding 2 per cent to Rs 201.90 and Tata Motors gained the most in two weeks, up 1.87 per cent at Rs 1,296.20.

Besides, metal majors including Sterlite Industries (up 1.78 per cent, Jindal Steel (1.43 per cent) and Hindalco (0.99 per cent) grabbed attention on the back of weakening dollar.

25 of the 30 Sensex components closed firm while rest ended subdued with the private sector lender HDFC Bank losing 1.18 per cent, becoming the worst performer.

Of 13 sectoral indices, except oil and gas sector, all finished the day on a positive note, with consumer durables gaining the most by rising 1.32 per cent to 6,311.48 followed by realty sector by 1.26 per cent to 2,789.34.

"Today’s rally was seen despite weak cues from the Asian and the European markets. Total turnover also was quite low as compared to previous F&O expiry," IIFL Head of Research Amar Ambani said.

Globally, Asian markets ended mixed while European stock markets eased marginally as trading wound down ahead of the year end.

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