Mid-Market- Sensex notches up slim gains; Power, Oil & Gas up Analysis for Jun 21, 2013

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After yesterday"s onslaught which saw the Sensex slump the most in 21 months, key domestic benchmarks inched a tad higher on Friday as power and oil & gas stocks gained. However, a falling rupee continued to dash hopes of a near-term rate cut, weighing on sentiment. The rupee, which fell to a record low of 59.98 yesterday against the dollar may weaken further as the greenback strengthens after the US Fed signaled an to end QE in mid-2014. Most Asian stocks fell as concerns that the Fed may taper QE and a worsening China slowdown hit sentiment.

At 12:13PM, the BSE SENSEX was at 18,772.81, up by 53.52 points or by 0.29 per cent, and the NSE Nifty was at 5,672.05, up by 16.15 points or by 0.29 per cent.

The BSE Sensex touched intraday high of 18,799.37 and intraday low of 18,615.14. The NSE Nifty touched intraday high of 5,674.65 and intraday low of 5,616.85.

Meanwhile, the BSE MIDCAP was at 6,109.76, down by 5.9 points or by 0.10 per cent, while the BSE SMLCAP was at 5,762.26, up by 24.19 points or by 0.42 per cent.

On the Sectoral front, Power and Oil & Gas rose 1.45 per cent and 1.15 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2117, shares advanced were 1046 while 940 shares declined and 131 were unchanged.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 84.05,+3.77%), Hero MotoCorp Ltd. (Rs. 1635.15,+2.20%), Oil And Natural Gas Corporation Ltd. (Rs. 305.95,+1.88%), Bharat Heavy Electricals Ltd. (Rs. 173.80,+1.46%), Dr. Reddy's Laboratories Ltd. (Rs. 2101.95,+1.18%), among others.

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Story first published: Friday, June 21, 2013, 13:00 [IST]
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