Sensex erases early gains amid profit booking Analysis for Sep 04, 2013

Subscribe to GoodReturns

Paring early gains, the benchmark indices are off day's high on account of profit booking at higher levels, primarily in FMCG sector.At 1:20PM BSE SENSEX was at 18393.7, up by 159.04 points or by 0.87 per cent while the NSE Nifty was at 5404.35, up by 62.9 points or by 1.18 per cent.

Moreover, the sentiments of the investors remained upbeat as the rupee climbed above the 67 level on fall in dollar demand. It gained 75 paise to 66.88 against the US dollar after hitting an intraday low of 68.60 per dollar in early trade.

Among the individual heavyweight stocks, BHEL, Tata Motors, Bharti Airtel, Hindalco, Reliance Industries, Tata Consultancy among others supported to the winning streak of the market.

On the other hand, heavyweights stocks that were still struggling included Maruti, ITC, Sun Pharma, HUL, SESA Goa, and HDFC Bank among others.

The BSE Sensex touched an intraday high of 18612.6 and an intraday low of 18188.43, while the NSE Nifty touched an intraday high of 5460.25 and an intraday low of 5318.9.The BSE MIDCAP was at 5300.48 up by 24.5 points, or by 0.46 per cent, while the BSE SMLCAP was at 5215.87, up by 21.93 points or by 0.42 per cent.

The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 124.50,+4.27%), Tata Motors Ltd. (Rs. 307.85,+3.57%), Bharti Airtel Ltd. (Rs. 294.10,+3.19%), Hindalco Industries Ltd. (Rs. 107.10,+2.54%), Tata Consultancy Services Ltd. (Rs. 2044.95,+2.20%), among others.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 296.00,-2.07%), Maruti Suzuki India Ltd. (Rs. 1255.90,-1.36%), Sun Pharmaceutical Industries Ltd. (Rs. 504.75,-1.12%), Hindustan Unilever Ltd. (Rs. 610.05,-0.71%), HDFC Bank Ltd. (Rs. 561.60,-0.64%), among others.Among the 13 sectors, Auto and metal index were the major gainers, and advanced 1.76 per cent and 1.68 per cent respectively.

On the global, the European market opened on a negative note led by fall in DAX and CAC by 0.25 per cent and 0.46 per cent respectively followed by FTSE , trading in red, down by 0.35 per cent.

Read more about:
Story first published: Wednesday, September 4, 2013, 13:48 [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'

Find IFSC