Positive global cues had the Indian market break out of its 2-3 week trading range and move higher crossing important resistance levels. Broadbased buying saw the indices post huge gains, particularly in banks, metals, capital goods and oil & gas sectors. Trade volumes were smart, too. Sensex shut shop at 16165, up 350 points and Nifty at 4849, up 106 points from the previous close. CNX Midcap index was up 2.4% and BSE Smallcap index was up 2.6%. The market breadth was positive with advances at 1112 against declines of 207 on the NSE. Top Nifty gainers were Reliance Power, PNB and Mahindra & Mahindra while losers included Ranbaxy and TCS.
