Market hit high

Sensex is up over 450 points has hit a new high crossing the previous high of 19,999. Metals, L&T, SBI have pushed the markets to new highs. Sensex is up 450 points and Nifty is up 120 points. At 12.03 hrs IST, the Sensex is up 420.26 points or 2.24% at 19191.15, and the Nifty up 125.40 points or 2.25% at 5694.35.

BSE Metal index is up 4%, Sterlite Ind is up 6% and Tata Steel up 3%.
L&T has surged up 8% with its strong Q2 numbers, its net profit up 73% at Rs 348 crore. This has taken the BSE Capital goods index up 5%.
Heavy buying seen in capital goods, metals, oil & gas and realty stocks. All the key BSE indices were trading in green. Market breadth was positive and the volume was also impressive. On the macroeconomic front, inflation came in at 3.07% same as the previous week.
Top gainers on the indices were Reliance, L&T, SBI, Hindalco, GAIL, HDFC, Reliance Energy, Sterlite Ind, Siemens, ACC, ITC. Reliance Energy, Reliance Petroleum, Maytas Infrastructure were the most active stocks on the BSE.

Market cues:

• Markets to react to SEBI's move on P-Notes
• FIIs net buy USD 461.3 million in equity on Oct 24
• MFs net buy Rs 339 crore in equity on Oct 24
• NSE F&O Nov series starts with Open Interest of Rs 69,558 cr vs Rs 67,613 cr in Oct

F&O cues:

• Marketwide rollover in-line with last expiry at 84%
• Nifty rollover in-line with last expiry at 71%
• Nifty Futures at 34-pt discount vs premium of 8-pts at start of Oct series
• Huge surge in rollover of momentum stocks
• Stock Futures add 7 cr shares in net Open Interest
• Nov Stock Futures alone added 47 cr shares in Open Interest
• Nifty Open Int Put-Call ratio at 1.14
• Nifty 5500 Put adds 8.5 lakh shares in Open Interest
• Nifty 5700 Call adds 5 lakh shares in Open Interest