Sensex advances as global rally continues

Key benchmark indices in the Indian markets were higher, taking cues from a continuing rebound in global markets as worries eased over the fallout from debt crisis in Dubai. Asian stock markets were higher on Wednesday, following on gains in US stocks after the Dow Jones Industrial Average hit a new 2009 high on Tuesday.

The Sensex was up 110 points at 17,308, while Nifty added 31 points to trade at 5,153.

“Indian markets are likely to face resistance at 5180 and 5200 levels,” said Siddarth Bhamre, a derivative analyst at Angel Broking.
A weaker dollar again boosted US stocks, a pattern that has played out for months. The cheaper US currency drove up commodities prices and lifted the shares of energy and materials companies that produce them.
The Dow rose 126.74, or 1.2 per cent, to 10,471.58, its highest close since October last year. It rose as high as 10,501.28 during trading, the first time it's topped the psychological barrier of 10,500 in 14 months.
Back in the Indian markets, the gains were led by auto, realty and banking stocks. Metal stocks also saw some buying action as a weak dollar continued to drive up commodity prices.
Among the Sensex stocks, Tata Motors, ICICI Bank, JP Asso, Maruti and SBI were up over 2 per cent each. Sun Pharma was up 1.3 per cent after Templeton said it would withdraw appeal against Sun Pharma in Taro case.

sirfpaisa.com

Sensex is the representative index of Bombay Stock Exchange. Today it closed on a positive note at 32869.72 points and it was up by 36.78 points. Stocks which performed well today are : GAIL, Infosys & HINDALCO .