Post Session- Sensex extends rally as investors cheer GDP data Analysis for Dec 02, 2013

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The key domestic benchmarks closed higher for a third day on the trot as the 30-share Sensex advanced by more than 100 points as investors cheered the GDP numbers released on Friday which showed that India"s economy grew by 4.8 per cent in the September 2013 quarter from the same period a year ago, a sign that the slowdown in Asia"s third biggest economy may be ebbing. In Q1 FY 2013-14, the Indian economy grew at the slowest rate in four years as growth slumped to 4.4 per cent, year on year. Further, robust Indian manufacturing data which showed that manufacturing rebounded into expansion territory last month also boosted sentiment. The gauge measuring manufacturing activity in India rose to 51.3 in November from 49.6 in October, with a reading above 50 signaling expansion, HSBC and Markit Economics said in a report on Monday. Healthcare and Capital Goods stocks were the major gainers.

Asian stocks ended on a mixed note as soft Chinese manufacturing data and weak US holiday retail sales data weighed on sentiment. US holiday retail sales during Thanksgiving and Black Friday rose by the weakest pace since 2009, up 2.3 per cent to USD 12.3 billion. China"s Shanghai Composite ended lower as a slowdown in manufacturing activity in China, signaled a weakening recovery in the world"s second biggest economy. The gauge measuring China manufacturing fell to 50.8 in November from 50.9 in the previous month, with a reading above 50 signaling expansion, HSBC said. Hang Seng closed higher while Japan"s Nikkei 225 posted slim losses as stocks of fuel producers fell.

The BSE SENSEX closed at 20,898.01, up by 106.08 points or by 0.51 per cent, and then NSE Nifty ended at 6,217.85, up by 41.75 points or by 0.68 per cent.

The BSE Sensex touched intraday high of 20,941 and intraday low of 20,770.51 The NSE Nifty touched intraday high of 6,228.7 and intraday low of 6,171.15.

Meanwhile, the BSE MIDCAP closed at 6,377.12, up by 51.54 points or by 0.81 per cent, while the BSE SMLCAP ended at 6,166.16, up by 66.64 points or by 1.09 per cent.

On the Sectoral front, Healthcare and Capital Goods rose 2 per cent and 1.61 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2730, shares advanced were 1495 while 1060 shares declined and 175 were unchanged.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 595.55,+4.09%), Jindal Steel & Power Ltd. (Rs. 268.25,+4.01%), Wipro Ltd. (Rs. 481.50,+2.24%), Larsen & Toubro Ltd. (Rs. 1066.55,+2.22%), Bharat Heavy Electricals Ltd. (Rs. 159.25,+2.05%), among others.

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Story first published: Monday, December 2, 2013, 16:36 [IST]
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