Post Session- Sensex ends higher ahead of IIP data Analysis for Aug 12, 2013

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The key domestic benchmarks closed higher on Monday driven by a rally in metal and FMCG stocks. Investors were eying the industrial output and consumer inflation data to be released later today. Industrial output is expected to have remained sluggish in the month of June, according to economists. However, India"s exports rose in July aided by a weaker rupee, easing concerns of a slowdown in Asia"s third biggest economy. Merchandise exports rose 11.64 per cent to USD 25.83 billion in July 2013 from the same month a year ago. Concerns over the Indian rupee eased after the RBI bolstered measures to curb the volatility in the domestic currency. The RBI said that it will sell government bonds worth Rs 22,000 crore every Monday to support the local currency. Banking stocks slumped as the State Bank of India (SBI) disappointed the market after standalone net profit fell by 13.6 per cent to Rs 3,241.08 crore in the quarter ended 30th June 2013 from the year ago period on increased provisioning for rising non-performing assets.

On the Asian front, most stock markets ended higher as upbeat Chinese data eased concerns over a slowdown in the world"s second biggest economy. Shanghai Composite closed higher as property developers and resources companies climbed. China"s industrial production rose 9.7 per cent in July 2013 from the same month a year ago, up from the annual 8.9 per cent gain in June 2013. Hang Seng closed higher on optimism over the health of the Chinese economy as industrial output growth picked up in July 2013 while subdued inflation left more room for easing, if required. Nikkei 225 ended lower amid a slowdown in growth in the world"s third biggest economy. Japan"s Gross Domestic Product (GDP) grew an annualized 2.6 per cent in the second quarter of 2013, compared to 3.8 per cent in Q1.

The BSE SENSEX closed at 18,946.98, up by 157.64 points or by 0.84 per cent, and the NSE Nifty ended at 5,612.4, up by 46.75 points or by 0.84 per cent.

The BSE Sensex touched intraday high of 19,066.97 and intraday low of 18,796.01 The NSE Nifty touched intraday high of 5,644.1 and intraday low of 5,557.1.

Further, the BSE MIDCAP closed at 5,492.25, up by 83.11 points or by 1.54 per cent, while the BSE SMLCAP ended at 5,315.98, up by 81.73 points or by 1.56 per cent.

On the Sectoral front, Metal and FMCG rose 4.52 per cent and 2.30 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2446, shares advanced were 1476 while 853 shares declined and 117 were unchanged.

The top gainers of the BSE Sensex pack were Jindal Steel & Power Ltd. (Rs. 226.95,+9.43%), Tata Steel Ltd. (Rs. 236.55,+8.29%), Sun Pharmaceutical Industries Ltd. (Rs. 540.55,+6.60%), Housing Development Finance Corporation Ltd. (Rs. 769.35,+3.23%), ITC Ltd. (Rs. 335.75,+3.16%), among others.

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Story first published: Monday, August 12, 2013, 16:36 [IST]
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