Mid-Market-Sensex stays on firm foot; RIL gains nearly 5% Analysis for Aug 06, 2012

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The domestic bourses continued its upward march, holding its early gains on the back of buying support across all the sectoral indices. On the sectoral front, all the indices were trading in green with metals and capital goods leading the rally, snapping their two days loss. Today, the sentiment turns positive after US jobs data showed better-than-expected permanence in July. The nonfarm payrolls report put traders in a good mood and as a result market witnessed broad based buying support. The sentiment were partially lifted by country"s most valued firm Reliance Industries which soared over 6 per cent after reports came that the company would share KG-D6 accounts with CAG. Among others, Infosys, Wipro, Sun Pharma, Tata Power, ICICI Bank, L&T, Bharti Airtel, HDFC Bank, SBI, Jindal Steel, Sterlite, were among notable gainers.

At 12:24 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex, witnessed surge in buying activities across broader market, was trading 222.13 points or by 1.29 per cent higher at 17,420.06.

In a similar way, NSE, Nifty was trading at 5,283.8 up by 68.1 points or by 1.31 per cent. Supporting the broader market, the BSE MIDCAP was at 6,138.85 up by 66.32 points or by 1.09 per cent, while the BSE SMLCAP was at 6,625.02 up by 79.32 points or by 1.21 per cent.

During the day"s trading so far, the BSE Sensex touched intraday high of 17,448.42 and intraday low of 17,313.05. On the other hand, the NSE Nifty touched intraday high of 5,291.35 and intraday low of 5,260.85.

The Market breadth, indicating the overall strength of the market, was positive. On BSE, out of total shares traded 2,648, shares advanced were 1,628, while 903 shares declined and 117 were unchanged.

The top gainers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 779.35, 4.91%), Tata Motors Ltd. (Rs. 227.65, 3.06%), Tata Steel Ltd. (Rs. 406.10, 2.31%), GAIL (India) Ltd. (Rs. 364.20, 2.09%), Larsen & Toubro Ltd. (Rs. 1410.25, 2.03%), among others.

Among the thirteen sectoral indices on BSE, Oil&Gas index stood as top gainer and was trading at 8,334.24 up by 228.12 points or by 2.81 per cent. Reliance Industries Ltd. (Rs. 779.35, 4.91%), Gujarat State Petronet Ltd. (Rs. 74.85, 4.76%), GAIL (India) Ltd. (Rs. 364.20, 2.09%), Cairn India Ltd. (Rs. 338.50, 1.17%), Petronet LNG Ltd. (Rs. 147.60, 1.06%).

Following the Oil&Gas index, Realty index was at 1,665.69 up by 27.35 points or by 1.67 per cent. Housing Development & Infrastructure Ltd. (Rs. 84.55, 3.05%), Indiabulls Real Estate Ltd. (Rs. 56.25, 2.74%), Unitech Ltd. (Rs. 21.80, 2.59%), Anant Raj Industries Ltd. (Rs. 48.85, 2.20%), DLF Ltd. (Rs. 211.10, 1.93%).

Meanwhile, most of Asian stocks rose for the first time in four days after sentiment turned positive by U.S. payrolls which climbed more than forecast. Among the Asain stocks, Japan"s Nikkei 225 climbed 2.00 per cent, while the Hang Seng moved up 1.84 per cent. In a similar way, the China"s Shanghai Composite was trading 0.90 per cent above the baseline.

Story first published: Monday, August 6, 2012, 15:20 [IST]
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