Sensex maintains upbeat move; heavyweights surge Analysis for Nov 18, 2013

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Domestic benchmark indices continued to maintain the upbeat trend led by significant buying among financials, capital goods and index heavyweight Reliance Industries, during the noon trading session. Banking stocks were trading higher by up to 4 per cent, extending its Thursday"s rally, after the Reserve Bank of India (RBI) Governor expressed comfort about the narrowing current account deficit and Fed chairwoman-designate, Janet Yellen, indicated that US central bank is in no rush to pare economic stimulus.

Moreover, all sectors were trading in green zone supported by Bankex, Capital Goods, FMCG and Oil & Gas indices surged 2 per cent each. Sectors like IT, TECk, Realty, PSU, Power and Auto have advanced by 1 per cent each.

At 1:17 PM BSE SENSEX was at 20749.61 up by 350.19 points or by 1.72 per cent, while the NSE Nifty was at 6150.7 up by 94.55 points or by 1.56 per cent.

The BSE MIDCAP was at 6204.67, up by 63.62 points or by 1.04 per cent, while the BSE SMLCAP was at 6001.17 up by 45 points or by 0.76 per cent.

The BSE Sensex touched an intraday high of 20757.21 and an intraday low of 20570.59, while the NSE Nifty touched an intraday high of 6157.8 and an intraday low of 6110.4.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 383.80,+6.95%), ITC Ltd. (Rs. 323.60,+2.93%), Larsen & Toubro Ltd. (Rs. 966.50,+2.88%), Oil And Natural Gas Corporation Ltd. (Rs. 277.20,+2.59%), HDFC Bank Ltd. (Rs. 658.25,+2.55%), among others.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 189.65,-0.73%), Tata Power Company Ltd. (Rs. 78.25,-0.57%), Cipla Ltd. (Rs. 402.20,-0.47%), Coal India Ltd. (Rs. 273.00,-0.40%), Bajaj Auto Ltd. (Rs. 2027.55,-0.25%), among others.

In BSE, BSE_CGS index was at 9093.4 up by 209.65 points or by 2.36%. Suzlon Energy Ltd. (Rs. 10.06,+9.95%), Crompton Greaves Ltd. (Rs. 107.55,+4.42%), Larsen & Toubro Ltd. (Rs. 966.50,+2.88%), Welspun Corp Ltd. (Rs. 38.75,+2.79%), IL&FS Transportation Networks Ltd. (Rs. 115.50,+2.67%),.

In BSE, BSE_Bankex index was at 12599.8 up by 273.47 points or by 2.22%. Bank of India (Rs. 231.90,+4.08%), Union Bank of India (Rs. 126.50,+3.05%), YES Bank Ltd. (Rs. 360.20,+2.84%), HDFC Bank Ltd. (Rs. 658.25,+2.55%), Axis Bank Ltd. (Rs. 1124.95,+2.48%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2392 shares traded, 1370 shares advance, 926 shares declined while 96 remained unchanged.

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Story first published: Monday, November 18, 2013, 13:36 [IST]
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