Mid market- Sensex moves in narrow range led by Metals and PSUs Analysis for Jan 25, 2012

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The Indian benchmark indices so far continued to move in a narrow range after witnessing gap up opening on the last session of the January month expiry. Sectors like Metal, IT, Teck, PSUs were supporting the gains on 30-share benchmark Sensex. However, selling pressure across private banks like ICICI, and some other laggards like L&T, ONGC were limiting the upside. Also, the major movements were seen in stocks that have announced results recently like Biocon, Cairn India.

At 12:32PM BSE SENSEX was at 17095.53 up by 99.76 points or by 0.59 % and then NSE Nifty was at 5155.1 up by 27.75 points or by 0.54 %.

The BSE MIDCAP was at 5826.74 up by 64.83 points or by 1.13 %. while the BSE SMLCAP was at 6420.82 up by 82.81 points or by 1.31 %.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2673, shares advanced were 1643 while 912 shares declined and 118 were unchanged.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 227.40,+2.41%), Coal India Ltd. (Rs. 337.75,+2.38%), Maruti Suzuki India Ltd. (Rs. 1183.00,+2.19%), Sterlite Industries (India) Ltd. (Rs. 113.50,+2.11%), Tata Steel Ltd. (Rs. 440.70,+1.98%), among others.

In BSE, BSE_PSU index was at 7381.05 up by 92.36 points or by 1.27%. Shipping Corporation of India Ltd. (Rs. 63.75,+7.05%), State Trading Corporation Of India Ltd. (Rs. 221.80,+5.02%), Hindustan Petroleum Corporation Ltd. (Rs. 285.00,+4.41%), Hindustan Copper Ltd. (Rs. 283.00,+3.99%), Neyveli Lignite Corporation Ltd. (Rs. 83.15,+3.48%).

In BSE, BSETECk index was at 3393.44 up by 38.53 points or by 1.15%. OnMobile Global Ltd. (Rs. 77.20,+5.39%), Hughes Ispat Ltd. (Rs. 15.22,+4.39%), Dish TV India Ltd. (Rs. 59.40,+3.85%), TV18 Broadcast Ltd. (Rs. 31.50,+3.62%), Deccan Chronicle Holdings Ltd. (Rs. 43.10,+3.48%).

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