Markets end higher amid volatility: Bank, midcaps surge

02 January 2008

The markets ended higher amid a highly volatile session. It was a dramatic day for markets as they opened higher slipped in red but pulled back to touch new highs. Sensex recovered 400 points from the day's low and ended over 150 points higher. It outperformed its Asian peers which ended deep in red. Midcap and smallcaps continued with their blazzing performance giving markets positive breath.

Bank stocks hogged all the limelight and bankex was up over 3%; UCO Bank up 20% followed by Allahabad Bank and Axis Bank up 7%, Union Bank up 5.7%, Dena Bank up over 4%, PNB up 2%.

Sensex was up 164.59 points or 0.81% at 20465.30, and the Nifty up 35.05 points or 0.57% at 6179.40.

About 1983 shares have advanced, 910 shares declined, and 21 shares are unchanged.

The BSE Midcap Index ended at 10,050.39 up 1.2%.

The BSE Smallcap Index ended at 13,895.06 up 1.4%.