A morning walk down Dalal Street | Decisive break above 10,950 would pave way for further up move

The Nifty flirted with 10900 while Sensex climbed by more than 300 points.

The final tally – The S&P BSE Sensex rallied 307 points to close at 36,270 while the Nifty50 ended 82 points up to end at 10,888. 

Sectorally, the S&P BSE Energy index rose 1.5 percent, followed by Metal which was up 2 percent while on the losing side consumer durable, realty and IT stocks some bit of profit taking.

Nifty has almost reached closer to the crucial hurdle of 10,950 and its decisive break would pave the way for further up move, suggest experts. 

The rupee on Monday recovered by 34 paise to close at 71.56 against the US dollar as forex market sentiments were driven by the country’s narrowing trade deficit in November as also smart gains in domestic equities.

On the institutional side, FPI were net sellers to the tune of Rs 60 crore while DIIs sold Rs 76 crore in Indian markets, according to provisional data.