Mid-Market— Sensex, Nifty up nearly 1% on back of metal, oil & gas stocks Analysis for Aug 22, 2013

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Indian benchmark indices were experiencing volatility today and witnessed some relief after surging around 1 per cent during the mid-market session helped by metal stocks such as Tata Steel, Sterlite Industries, Jindal Steel, among others. Heavyweight stocks such as RIL, ONGC, ITC, Infosys, Tata Motors helped the 30-share Sensex regain its psychological 18,000 mark. Bank stocks however struggled as the rupee religiously fell freely, breaching 65 against the USD today. Being rate sensitive, Auto stocks were also under pressure. Overall mood remained bearish on the street as FIIs continued their capital flights from India, while investing in US treasuries.

At 12:44PM BSE SENSEX was at 18083.17 up by 177.26 points or by 0.99 per cent while NSE Nifty was at 5349.4 up by 46.85 points or by 0.88 per cent.

The BSE MIDCAP was at 5265.83 down by 8.2 points or by 0.16 per cent, while the BSE SMLCAP was at 5176.62 down by 4.5 points or by 0.09 per cent.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 265.20,+6.96%), Sterlite Industries (India) Ltd. (Rs. 83.50,+5.43%), Oil And Natural Gas Corporation Ltd. (Rs. 264.00,+5.31%), Bharti Airtel Ltd. (Rs. 313.80,+5.09%), Hindalco Industries Ltd. (Rs. 96.95,+3.86%), among others.

The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 1251.30,-2.63%), Mahindra & Mahindra Ltd. (Rs. 774.00,-1.26%), HDFC Bank Ltd. (Rs. 587.30,-1.07%), Housing Development Finance Corporation Ltd. (Rs. 741.65,-0.68%), Hero MotoCorp Ltd. (Rs. 1860.50,-0.50%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2072, shares advanced were 931 while 994 shares declined and 147 were unchanged.

In BSE, BSE Metal index was at 7489.04 up by 338.05 points or by 4.73%. Hindustan Zinc Ltd. (Rs. 115.60,+7.29%), Tata Steel Ltd. (Rs. 265.20,+6.96%), Sesa Goa Ltd. (Rs. 145.00,+5.49%), Sterlite Industries (India) Ltd. (Rs. 83.50,+5.43%), JSW Steel Ltd. (Rs. 523.65,+5.36%),.

In BSE, BSE Oil&Gas index was at 7941.59 up by 156.42 points or by 2.01%. Oil And Natural Gas Corporation Ltd. (Rs. 264.00,+5.31%), Bharat Petroleum Corporation Ltd. (Rs. 295.65,+4.05%), Hindustan Petroleum Corporation Ltd. (Rs. 182.35,+3.34%), Reliance Industries Ltd. (Rs. 798.65,+1.89%), GAIL (India) Ltd. (Rs. 304.70,+1.72%),.

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Story first published: Thursday, August 22, 2013, 13:12 [IST]
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