December 14, 2010 6:27 PM

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Sensex surges 107 points as inflation slips to 11 month low

Advancing for the third straight session, the Sensex at the Bombay Stock Exchange rose 107 points, or 0.6 percent, to 19,799, on Tuesday, as inflation slipped to an 11-month low. The Sensex had lost 70 points at the day's low, and gained 145 points at the day's high. The Nifty at the National Stock Exchange added 36 points, or 0.6 percent, to 5,944. The broader market posted better gains, with the BSE Midcap index rallying 1.5 percent and the Smallcap index spurting 1.6 percent.Market breadth was strong on the BSE, with more than 2 gainers for every single loser. Total turnover on the BSE's cash segment stood at 3,311 crore rupees.Among the BSE sectoral indices, the Consumer Durables index was the biggest gainer, spurting 3.1%; the Metal index gained 1.6%; the PSU, the Realty, the Capital Goods and the Oil and Gas indices added about 0.9%, each; the Healthcare index rose 0.8%; the Teck index rose 0.6%; and the IT and the Power indices and the Bankex gained about 0.4%, each. The Auto index was the only sectoral loser, falling 0.2%. Index heavyweight Reliance Industries advanced 1%. Some pharma stocks rose for the second straight day after the European Union and India resolved a dispute over generic drugs. Dr Reddy's, Sun Pharma, Ranbaxy, Biocon, Cipla and Lupin rose between 0.2% and 3%.Metal stocks also gained. Sterlite, SAIL, Hindustan Zinc, Nalco, JSW Steel and Tata Steel rose between 0.8% and 4%.Consumer durables stocks also gained ground on bargain hunting. So Titan, Rajesh Exports, Videocon Industries, Blue Star and Gitanjali Gems added between 1.5% and 7%.Most capital goods stocks also advanced, with L&T, Thermax, Usha Martin, Praj Industries, ABB and BEML gaining between 0.5% and 2%.In Realty stocks, DLF, Indiabulls Real Estate, HDIL and D B Realty rose between 0.2% and 2.5%.In IT majors, Wipro rose 1%, Infosys ended flat, and TCS rose 0.3%.

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