Mid-Market- Sensex gains momentum as easing inflation brings cheer Analysis for Jun 14, 2013

Subscribe to GoodReturns

The key domestic benchmarks picked up a gear in noon trade as the Sensex rallied by 250 points tracking firm cues from Asian markets which rose as a fall in US jobless claims and a pickup in retail sales signaled acceleration in the world"s biggest economy. On the domestic front, easing wholesale inflation brought much needed respite to investors. The wholesale inflation index (WPI) eased for a fourth month on the trot, rising 4.7% in May 2013, year on year, compared to 4.89% in April 2013. Despite a decline in WPI inflation, a falling rupee may limit the RBI"s scope for cutting interest rates next week. An upgrade to India"s credit rating outlook from negative to stable by Fitch also improved sentiment.

At 12:12PM, the BSE SENSEX was at 19,077.89, up by 250.73 points or by 1.33 per cent, and then NSE Nifty was at 5,782.15, up by 83.05 points or by 1.46 per cent.

The BSE Sensex touched intraday high of 19,104.92 and intraday low of 18,952.09. The NSE Nifty touched intraday high of 5,786.85 and intraday low of 5,739.4.

Meanwhile, the BSE MIDCAP was at 6,175.4, up by 66.94 points or by 1.10 per cent, while the BSE SMLCAP was at 5,761.98, up by 48.25 points or by 0.84 per cent.

On the Sectoral front, Consumer Durables and Auto rose 3 per cent and 2.48 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2084, shares advanced were 1276 while 707 shares declined and 101 were unchanged.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 294.80,+4.17%), Maruti Suzuki India Ltd. (Rs. 1508.35,+3.63%), Tata Steel Ltd. (Rs. 274.60,+3.17%), Tata Power Company Ltd. (Rs. 80.50,+3.14%), Hindalco Industries Ltd. (Rs. 99.80,+3.05%), among others.

Read more about:
Story first published: Friday, June 14, 2013, 12:48 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'