It was an impressive closing for the market today. The Sensex closed at 19738, up 208 points and Nifty at 5940 up 81 points from the previous close. The CNX Midcap was up 1.6% and BSE Smallcaps was up 2.9%. The market breadth was strong with 963 advances against declines of 256 on the NSE. The major NSE gainers included GAIL, ONGC, NTPC and Tata Motors while losers included VSNL, Infosys, Tata Steel and Grasim.

The market may see new highs after December 11 when the US Federal government may cut rates by 25 bps, says Sajiv Dhawan of JV Financial, on CNBC TV18. There may be some unwinding or profit booking,

Ispat has touched its target of Rs 67 today and its next target is Rs 79-82 and if it crosses that then it can go up to Rs 90, says Rajat Bose, technical analyst, on CNBC-TV18. The stock is trading at Rs 67, up 23% on the BSE.