Sensex, Nifty end higher amid volatile trade; auto, metals rally

The market has ended in green after a lot of volatility due to December Future & Options (F&O) expiry today. The  Nifty was up 68.75 points or 0.9 percent at 8103.60 and the Sensex climbed 155.47 points or 0.6 percent at 26366.15. About 1651 shares have advanced, 929 shares declined, and 171 shares are unchanged.

Auto, metals and IT stocks lend support. MAruti, HDFC, Tata Motors, TCS and Bahrti were gainers while Adani Ports, Infosys, Sun Pharma, L&T and BHEL were losers in the Sensex.

According to Nirmal Bang Institutional Equities, there is a possibility of market going to level of 7500 in next 1-2 months. While there is a lot of noise regarding upcoming elections and cash crunch impacting market, the main mover of market remains earning, Rahul Arora, CEO of Nirmal Bang. Market earnings have grown at a 5 percent compounded annual growth in last six years.

At the current stage, pharmaceutical, IT and metal are the sectors to concentrate on in first quarter of 2017, Arora said. Any domestically driven sector should be avoided.

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