Indian markets extended its winning streak for third straight trading session with the NSE Nifty ending above the 4,800 levels. Even the BSE Sensex ended above the 16,100 levels.
The rally was led by the metals stocks, heavyweights like Tata Steel, Sterlite Industries and Hindalco. Even the Banking stocks like ICICI Bank and SBI were in demand. Technically, the BSE Bankex index has broken above its trading range after consolidating for almost four months. The index has gained ~300 points or 3.5% in the last couple of days. Cues from the international markets were also positive. The Hang Seng and the Shanghai Composite ended with smart gains even the European markets were trading with healthy gains. Finally, the BSE Sensex surged 107 points or 0.7% at 16,123 after touching a high of 16,232 and a low of 16,030. The index opened at 16,030 against the previous close of 16,016.
The NSE Nifty surged 22 points to shut shop at 4,805.
The market breadth was marginally negative. Out of 2,889 shares traded, 1,362 advanced, 1,461 declined and 66 were unchanged.
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