The key indices scaled 31-month highs on signs the global economic recovery is on track. Stocks rose across the globe as better-than-expected US payrolls data late last week eased market anxiety over chances of a double-dip recession in the world's biggest economy. Besides strong global cues, a good monsoon this season and sustained buying by foreign funds, boosted domestic investor sentiment. The BSE Sensex crossed 18,500 mark and Nifty crossed 5,550 level. The BSE 30-share Sensex jumped 338.62 points or 1.86%, up close to 436 points from the day's low and off close to 40 points from the day's high. The market extended gains in afternoon trade as European stocks opened on a firm note. The rally gathered further steam in mid-afternoon trade. The market came off the higher level in late trade.
NSE's volatility index, India VIX, a gauge of traders' perception of near-term risks in the market based on options prices, was down 4.04% at 15.22. The index had lost 1.8% to 15.86 on Friday, 3 September 2010.
Foreign funds today, 6 September 2010, bought shares worth a net Rs 946.53 crore, as per the provisional data released by the stock exchanges. Domestic funds bought shares worth a net Rs 392.13 crore.
Foreign funds have bought shares worth a net Rs 1671.67 crore in the first four trading sessions this month, as per data from the stock exchanges. Their inflow in calendar 2010 has reached Rs 21166.76 crore.
BSE clocked turnover of Rs 5412 crore, higher than Rs 4778.27 crore on Friday, 3 September 2010.
BOND MARKET: The rupee was at 46.51/52 per dollar as against Friday's closing of 46.63/64 per dollar, boosted by the gains in the domestic equity market and the dollar's losses versus major currencies. India's 10-year bond fell, pushing yields to their highest level in more than a week, as better-than-expected growth in the US employment increased the odds of a fifth interest-rate increase this year.
MARKET SENTIMENT: The market breadth, indicating the overall health of the market, was strong. On BSE, 2072 shares rose while 881 shares declined. A total of 123 shares remained unchanged.
NIFTY SEPTEMBER 2010 FUTURES AT DISCOUNT. Nifty September 2010 futures were at 5,575.70, at a discount of 1.25 points compared to spot closing of 5,576.95. Turnover in NSE's futures & options (F&O) segment jumped to Rs 114398.70 crore from Rs 65255.26 crore on Friday, 3 September 2010.
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