Monday, 11 May 2015

Closing Summary, Market Synopsis: 11th May, 2015

Market maintains the Upside momentum; Sensex ends more than 400 points higher: Benchmark indices closed the day with nearly 1.5% of gains, amid firm global cues, helped by the strong buying in metal, financials and auto stocks among others. The second straight day of gains comes on back of positive US jobs data, government's softening stance on the MAT issue, a surprise rate cut by China and easing of crude oil prices. The 30-share Sensex ended up 402 points at 27,507 and the 50-share Nifty closed up 133.75 points at 8,325. The market breadth indicating the overall health of the market was strong, with almost two gainers for every loser. On the macro-economic front, data on inflation based on consumer price index (CPI) for April will be unveiled on Tuesday. On the same day, industrial production (IIP) data for March will also be released.

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