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Indian stock market daily closing report (January 15, 2013)

Contributed by Nirmal Bang

Indian Markets continued yesterday’s rally to end at 2 year high level in today’s trading session. Overall sentiments are very positive in the markets on account of better than expected beginning of earning season together with policy initiative by the government, FII Inflow and very high expectation of rate cut by the RBI tracking improvement in December WPI.

Buying interest was observed in banking stocks on account of better than expected result announced by the Axis Bank. Buying interest was also observed in cement stocks on the news that Cement companies are drawing up plans to question the legality of the cartelisation case.

The breadth of the market was positive in today’s trade.