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Indian stock market daily closing report (September 18, 2012)

Contributed by Nirmal Bang

Indian markets traded in choppy trading session with a very narrow range. In last eight trading session the Indian market has rallied around 7%. The global cues remain week today on account of apprehensions regarding Spain's willingness to accept an EU/IMF bailout.

Buying interest is observed in brokerage industry stocks today on the expectation of increase in volume on account of Rajiv Gandhi equity savings scheme. Power indices was one of the major gainer today on the news that that the government may allow the restructure the debt of state electricity boards (SEBs) and power distribution companies.

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