Mid-Market—Markets cheer rupee recovery; Sensex jumps over 250 points Analysis for Sep 06, 2013

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Indian markets were extending the gains during afternoon session with 30-share benchmark index Sensex surging 1 per cent on back of heavyweight stocks like ICICI Bank, ITC, Infosys, L&T, among others. The BSE Banking index extended yesterday"s rally as investors cheered the slew of measures announced by new RBI governor. Power, Capital Goods, Healthcare, IT and Tech stocks were driving rally in the markets today, while consumer durables and Auto stocks were under pressure. The BSE mid- and small-cap indices were up by around 0.5 per cent each. Rise in equity markets today was also helped by rupee recovery which came off 66-level against the US dollar.

At 12:40PM BSE SENSEX was at 19223.18 up by 243.42 points or by 1.28 per cent while NSE Nifty was at 5642.4 up by 49.45 points or by 0.88 per cent.

The BSE MIDCAP was at 5446.6 up by 26.37 points or by 0.49 per cent, while the BSE SMLCAP was at 5337.81 up by 27.5 points or by 0.52 per cent.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 939.65,+5.21%), Jindal Steel & Power Ltd. (Rs. 235.50,+3.88%), Cipla Ltd. (Rs. 433.65,+3.55%), Bharti Airtel Ltd. (Rs. 305.90,+2.89%), Larsen & Toubro Ltd. (Rs. 746.55,+2.60%), among others.

The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 275.70,-2.73%), Hindustan Unilever Ltd. (Rs. 614.75,-2.01%), Tata Power Company Ltd. (Rs. 71.45,-1.85%), Hero MotoCorp Ltd. (Rs. 1922.55,-1.09%), State Bank of India (Rs. 1628.85,-0.45%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2152, shares advanced were 1153 while 864 shares declined and 135 were unchanged.

In BSE, BSE_CGS index was at 7381.11 up by 138.51 points or by 1.91%. Thermax Ltd. (Rs. 549.00,+2.64%), Larsen & Toubro Ltd. (Rs. 746.55,+2.60%), Carborundum Universal Ltd. (Rs. 103.95,+1.91%), Havells India Ltd. (Rs. 613.00,+1.76%), Bharat Heavy Electricals Ltd. (Rs. 139.40,+1.60%),.

In BSE, BSE_Bankex index was at 11197.98 up by 182.99 points or by 1.66%. ICICI Bank Ltd. (Rs. 939.65,+5.21%), Federal Bank Ltd. (Rs. 280.75,+2.39%), YES Bank Ltd. (Rs. 291.40,+1.41%), IndusInd Bank Ltd. (Rs. 402.05,+1.06%), Punjab National Bank (Rs. 447.50,+1.05%),.

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Story first published: Friday, September 6, 2013, 13:00 [IST]
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