Market maintains strong up move; SSTL, Tata Steel soars Analysis for Oct 18, 2013

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The 30-share benchmark index continued its bullish trend during the noon trading session, helped by the gains in index heavyweights including SSLT, Tata Steel, Hindalco, ICICI Bank, HDFC Bank, State Bank of India and Wipro among others. The rupee touched 2-month high in the early trades, helped by dollar"s weakness, sending the banking stocks rallying on bourses.

At 12:35PM BSE SENSEX was at 20796.17, up by 380.66 points or by 1.86, while the NSE Nifty was at 6157.65 up by 111.8 points or by 1.85 per cent.

The BSE Sensex touched an intraday high of 20803.31 and an intraday low of 20486.78, while the NSE Nifty touched an intraday high of 6159.05 and an intraday low of 6070.9.

The BSE MIDCAP was at 5894.35, up by 57.06 points or by 0.98 per cent, while the BSE SMLCAP was at 5738.24 up by 38.26 points or by 0.67 per cent.

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 196.85,+6.90%), Tata Steel Ltd. (Rs. 324.40,+4.61%), HDFC Bank Ltd. (Rs. 670.50,+2.56%), ICICI Bank Ltd. (Rs. 989.90,+2.46%), Dr. Reddy's Laboratories Ltd. (Rs. 2462.70,+2.31%), among others.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2156.90,-0.37%), Bharat Heavy Electricals Ltd. (Rs. 145.95,-0.27%), Cipla Ltd. (Rs. 414.30,-0.24%), among others.

In BSE, BSE Metal index was at 9067.93 up by 339.66 points or by 3.89%. Sesa Sterlite Ltd. (Rs. 196.85,+6.90%), Tata Steel Ltd. (Rs. 324.40,+4.61%), JSW Steel Ltd. (Rs. 805.00,+2.49%), Hindustan Zinc Ltd. (Rs. 133.60,+2.41%), Steel Authority of India (SAIL) Ltd. (Rs. 59.10,+1.98%),.

In BSE, BSE_CDS index was at 5956.48 down by 63.27 points or by 1.07%. PC Jeweller Ltd. (Rs. 94.80,-1.40%), Bajaj Electricals Ltd. (Rs. 162.50,-0.18%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2369 shares traded, 1271 shares advanced, 937 shares declined while 161 remained unchanged.

On the global front, the European peers belled the day on a positive note led by CAC and DAX, were trading up by 0.27 per cent and 0.45 respectively, followed by FTSE, trading higher at 0.39 per cent.

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Story first published: Friday, October 18, 2013, 13:48 [IST]
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