Sensex continues upward journey amid firm Asian cues Analysis for Nov 28, 2013

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The key domestic benchmarks were trading on a firm note today as the Sensex rallied by more than 150 points on the day of the expiry of the November F&O contracts. Capital Goods and Oil & Gas stocks were the major gainers. A firm trend across other Asian markets lifted sentiment as stocks in the region rose as US consumer confidence and labour market data signaled a pickup in the world"s biggest economy, bolstering the appeal of risky assets. The number of Americans who filed for unemployment claims fell to the lowest level in two months last week while confidence among American consumers rebounded in November, signaling optimism over the health of the US economy. However, caution ahead of the GDP data and F&O expiry may trim gains in the Sensex in later trade.

At 11:15AM, the BSE SENSEX was at 20,578.31, up by 158.05 points or by 0.77 per cent, and the NSE Nifty was at 6,104.85, up by 47.75 points or by 0.79 per cent.

The BSE Sensex touched intraday high of 20,606.38 and intraday low of 20,517.97 The NSE Nifty touched intraday high of 6,112.95 and intraday low of 6,090.

Meanwhile, the BSE MIDCAP was at 6,279.33, up by 56.23 points or by 0.9 per cent, while the BSE SMLCAP was at 6,041.9, up by 48.03 points or by 0.8 per cent.

On the Sectoral front, Capital Goods and Oil & Gas were up 1.74 per cent and 1.49 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 1820, shares advanced were 1120 while 598 shares declined and 102 were unchanged.

The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2475.00,+2.03%), Reliance Industries Ltd. (Rs. 853.00,+1.80%), Sesa Sterlite Ltd. (Rs. 177.30,+1.75%), Larsen & Toubro Ltd. (Rs. 1024.00,+1.73%), Mahindra & Mahindra Ltd. (Rs. 956.50,+1.62%), among others.

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Story first published: Thursday, November 28, 2013, 13:00 [IST]
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