The Sensex staged nice performance on the first day of last week of the year 2011, shooting up over 200 points amid low volumes. Telecom, technology, banks, FMCG and capital goods were major sectors that led the rally. Positive macro data and congress move from the US too lifted the confidence of Indian equities today.

The Sensex tried to hit the 16000 mark but all its attempts failed. It touched an intra-day high of 15,998.44, before closing up 232.05 points at 15,970.75. The Nifty rose 65 points, to end at 4,779.

Sudarshan Sukhani of s2analytics.com advised holding long position. He does not think that this market is ready to mature and sell out.

The rally of about 1% in the US markets on Friday was led by positive macro data and Congress move. US Congress approved a two-month extension of a payroll tax cut and in the economic data, home sales rose to a 7-month high in November. Supply of houses on the market was lowest in 5.5 years, whichrekindled hope of a revival in the housing market. The US and European markets are shut today for Christmas holiday.

Back to the Indian market, the TECk and IT outperformed other indices – gained 2.6% and 2.4%, respectively.

Back to the Indian market, the TECk and IT outperformed other indices – gained 2.6% and 2.4%, respectively. Realty, Metal, Capital Goods, Oil & Gas, Power and Auto gained 1-1.6%.

All telecom stocks were on buyers’ radar after telecom tribunal TDSAT stayed department of telecommunications (DoT) 3G roaming ban order, which said no coercive steps should be taken against companies until order. Shares of telecom major by market share Bharti jumped 4.3%. Idea Cellular was up 4.44% and Reliance Communications rose 3.5%.

Technology majors Infosys and TCS jumped nearly 3%. Index heavyweight Reliance Industries moved up nearly 2%.

In the capital goods space, L&T was up 1.7% and BHEL rose 0.7%. Among banks, HDFC Bank, ICICI Bank and SBI gained about 1%.

Shares of Hero Motocorp topped the buying list, shooting up 4.75%; Tata Steel and JP Associates were up 3% each.

However, Maruti Suzuki, Hindalco and Cipla were only losers among Sensex 30 stocks, falling over 0.5%.

The broader indices underperformed benchmarks – the BSE Midcap Index was up 0.8% and Smallcap up 1%.

In the second line shares, Edelweiss Capital, Anant Raj Industries, Infotech Enterprises, IFCI and Ramky Infra were up 7-10% while Balrampur Chini, Hexaware Tech, Gujarat State Petronet, Ipca Labs and Jaypee Infra fell 3-5.5%.

Advancing shares outnumbered declining by 1769 to 994 on the BSE.

Thanks Money control.