Sensex tad higher; Oil & Gas, IT stocks rally Analysis for Jun 21, 2013

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Paring early losses, the domestic bourses bounced back in the positive terrain, tad higher by 22 points led by some buying interest in the heavyweights. At 11:22AM BSE SENSEX was at 18751.21, up by 31.92 points, or by 0.17 per cent, while the NSE Nifty was at 5663.55, up by 7.65 points, or by 0.14 per cent.

However caution prevailed in the market as investors remained concerned as the rising rupee may force the Reserve Bank of India to defer reduction in key policy rate going forward.

Among the individual heavyweights, Hero Moto Corp, ONGC, TCS, BHEL, Infosys, Reliance Industries supported the gains in the market whereas Jindal Steel, Sun Pharma, HDFC, Hindalco and ICICI Bank loses its shine on the bourses trading down over 3 per cent.

The BSE Sensex touched an intraday high of 18777.93 and an intraday low of 18615.14, while, the NSE Nifty touched an intraday high of 5670.7, and intraday low of 5616.85.

The BSE MIDCAP was at 6109.92 down by 5.74 points or by 0.09 per cent, while, the BSE SMLCAP was at 5758.07 up by 20 points or by 0.35 per cent.

The top gainers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 1640.80,+2.55%), Oil And Natural Gas Corporation Ltd. (Rs. 306.50,+2.06%), Tata Consultancy Services Ltd. (Rs. 1421.40,+1.23%), Reliance Industries Ltd. (Rs. 808.70,+1.19%), Infosys Ltd. (Rs. 2395.00,+1.19%), among others.

On the sectoral front, Oil & gas and IT index were the major gained and advanced 1.31 and 1.13 per cent respectively.

The Market breadth, indicating the overall health of the market, was positive. On BSE out of total 2061 shares traded, 1026 shares advanced, 901 shares declined while 134 remained unchanged.

On the global front, most of the Asian peers experienced fall, while Japan"s Nikkei 225 was trading in green up over 272 points. However, China"s Shanghai Composite and Hong Kong"s Hang Seng were down by 13 points and 133 points respectively.

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Story first published: Friday, June 21, 2013, 11:48 [IST]
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