Sensex closes above 11,500; gains 46 points

The markets opened weak and were sluggish for major part of the day. It reversed the trend and surged during the final hours of trade defying the trend in Asian markets.

Sensex closed above 11,500 for the first time since May 17. It closed at 11,511.68 up 45.96 points. The Nifty gained 9 points to close at 3366.

The BSE Small Cap Index closed at 5,818.30 up 52 points or 0.9%. STC India, Northgate Tech, Mawana Sugar, Flex Industries and Kopran were the biggest small cap gainers.

The BSE Midcap Index ended at 4,807.24 up 37 points or 0.77%.
Most of the BSE sectoral indices closed in the positive terrain.
The BSE Bankex was up 1.24% at 5,192.12. PNB, Bank of India, Oriental Bank, Union Bank, Vijaya Bank and Allahabad Bank moved upwards.

The BSE IT Index was up 1.33% at 4,254.18. Patni Computer, Mphasis BFL, HCL Info and Infosys advanced.
The BSE Auto Index gained 1.1% at 4,979.16. Mah and Mah, MICO, Bajaj Auto and Tata Motors were among the top gainers.
The BSE Oil and Gas Index gained 0.4% at 5,473.48. HPCL, Kochi Refin and Reliance closed higher.
The BSE Capital Goods Index was up 0.2% at 7,736.92. Carborundum, Bharat Elec, Greaves Cotton, Lakshmi Machine, Dredging Corporation closed higher.

The BSE Metal Index advanced by 0.2% at 8,094.56. Hind Zinc, Jindal Saw, Sterlite Ind and Sesa Goa witnessed buying interest.

The BSE FMCG Index closed flat at 1,982.14. P and G, Nirma and Shaw Wallace closed in green.
The BSE Health Care Index closed flat at 3,553.12. Lupin, Ranbaxy Labs, Matrix Lab, Dr Reddys Labs and Apollo Hospital closed lower.

The NSE cash turnover was at Rs 5627.45 crore and the NSE F&O turnover was at Rs 18042.2 crore. The BSE cash turnover was Rs 2674.23 crore. Total market wide turnover was at Rs 26343.88 crore.

Markets Today:

Sensex closes above 11,500 for the first time since May 17

Sensex up 45.96 points at 11511.68; Nifty up 9.25 points at 3366

BSE IT, Bank & Auto Indices gain on fund buying

BSE IT Index up 1.33%; Infosys up 2%, Patni up 5.12%

BSE Bank Index up 1.24%; Bank of India up 8%, PNB up 6.5%, SBI, ICICI Bank firm

BSE Auto Index up 1.12%; M&M up 3%, Bajaj Auto up 2.34%, Tata Mot up 1%

CNX Midcap Index up 0.53%; led by mid cap banking stock

Bank of Mah up 4.6%, Vijaya Bank up 4.16%, Allahabad Bank up 3.8%

BSE Small Cap Index up nearly 1%; led by sugar stocks

Mawana Sugar up 14.6%, Rana Sugar up 9.8%

NSE Advance Decline ratio at 3:2