Sensex shrugs off weak start on bargain buying, gains 150 points

Bargain buying after days of slides for benchmark indices led to a 150-point rally in the sensex on Monday, despite heavy selling by foreign funds and weak trends in markets around the globe in the aftermath of the Paris terror attacks. After a weak start, the sensex fell to a seven-week low level, then reversed the trend and was up more than 250 points in late session before a strong bout of selling shaved off some of the gains as the index finally settled at 25,760. In the last one month, the sensex has lost 1,600 points, or nearly 6% Stock Marketing Trading Tips

Market players said that news about government's fresh initiatives to pass the GST bill in the coming Parliament session led to the rally. In comparison, around the globe, Hang Seng in Hong Kong closed 1.7% lower while Nikkei in Japan lost 1%. Japanese economic data showing the world's third largest economy was in recession again also weighed on investor sentiment globally. European markets too opened weak but later regained early losses to remain flat after US markets showed resilience in opening trades. 

The day's session witnessed net outflow by foreign funds at nearly Rs 1,100 crore in the secondary market. So far in the month, FPIs have net sold Indian stocks worth about $400 million as they are taking a cautious stance on the market because of the slow pace of economic reforms. On Monday, Christopher Wood, MD & equity strategist, CLSA, one of the leading foreign brokerages, said that although he was overweight on India, he was not happy with the performance of the government at the centre Himanshu Tiwari Astrologer Blog

Monday's rally was led by Reliance, SBI and L&T while Infosys and HUL were big drags on the index. The day's session also added about Rs 34,000 crore to investors' wealth with BSE's market capitalization now at Rs 96.4 lakh crore. 

SH Kelkar closes 15% up on debut: Shares of fragrance and perfume maker S H Kelkar closed 15% higher at Rs 207 on the BSE on listing day, after rising as much as 24% to Rs 223 soon after its debut on the bourses. The IPO for the company, through which it raised Rs 500 crore and was subscribed nearly 28 times. The non-institutional segment was subscribed 87 times, while the institutional part was subscribed 26 times Commodity Market Astrology Tips