After a gain of 301 points from the day's low, the benchmark index has closed at 19,519 up 114 points while the Nifty closed at 5,863 adding 33 points.In the broader markets, the smallcap index gained 2% while the midcap added 1.4%. The broader markets outperformed the benchmark index at 0.6% in the positive.
Earlier in the day, the markets had a choppy session. Owing to the weak Asian trades, the markets initially edged lower but as the Chinese markets recovered coupled with a better-than-expected GDP results, the markets moved upwards.
But in the early afternoon trades, a bout of volatility was witnessed in which the markets touched the day's low of 19,218. In the last hour of trade, the Sensex shed nearly 100 points from the day's high.
On the other hand, the Asian markets closed in the red. Seoul Composite and Taiwan Weighted were the only exceptions gaining 0.4% and 0.06% respectively.
The Chinese market had a steep intraday fall due to the reports of Beijing planning to tighten policy in order to rein in inflation.
However, towards the end, the index pared most of its losses to close at 2,820, down 1.6%. Hang Seng shed 0.6% at 23,007 while the Nikkei lost nearly 2% to end the day at 9,937.
In the European markets, DAX and FTSE are the only indices trading in the green.Earlier, all the indices had opened in the positive.
CAC is currently down 0.4% in the US markets, the index futures indicate that Dow may open down 19 points on fears that the the $112.61 billion bailout for Ireland won't be able
to contain the Euro debt crisis. Yesterday, the stocks had fallen on the fears of the same.
The GDP results brought some cheer to the markets. India's economy grew more than expected in the quarter through September, boosted by farm output and manufacturing, putting pressure on the Reserve Bank of India to tighten monetary policy although a rate increase next month still looks unlikely.
Annual gross domestic product growth expanded 8.9 per cent from 8.8 per cent in the fiscal first quarter, the Central Statistical Organisation said.
Among the sectoral indices, realty up 5.6% lead the pack after trading at the bottom of the chart for five trading days.
On the other hand, Oil & gas which was at the top of the chart, today is the only index in the red, down 0.5%. Consumer Durables up 2% followed by Power and PSU gaining 1.8% and 1.7% respectively followed.
Realty major, DLF up 7% was the top gainer on the Sensex followed by Bharti Airtel which gained 6%, Tata Motors and SBI up 4% each were the other noteable gainers.
Tata Steel, market heavy weight RIL down 1% each were the top losers on the benchmark index. ICICI Bank, Tata Power, L&T, ACC and HDFC which shed 0.7% -0.9% are the other losers.
The market breadth was negative. 1153 stocks had declied while 804 had advanced.
