Sensex remains upbeat; realty, capital goods rally Analysis for Dec 18, 2013

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Maintaining the gaining momentum, the 30-share benchmark index remained above 250 points during the noon trading session, the sentiments of the investors got a boost after the Reserve Bank of India (RBI) decided to keep repo rates unchanged at 7.75 percent. The central bank has also kept MSF rate unchanged at 8.75 percent and cash reserve ratio as 4 percent. The rate sensitive stocks surged higher on the back of RBI"s decision. The stocks on the buyers radar included, BHEL, L&T, State Bank of India, Hero Moto Corp, HDFC and Bajaj Auto among others.

At 1:16PM BSE SENSEX was at 20867.08, up by 254.94 points or by 1.24 per cent, while the NSE Nifty was at 6214.1, up by 75.05 points or by 1.22 per cent.

The BSE MIDCAP was at 6392, up by 73.03 points or by 1.16 per cent, while the BSE SMLCAP was at 6202.05, up by 51.4 points or by 0.84 per cent.

The BSE Sensex touched an intraday high of 20917.57 and an intraday low of 20568.7, while the NSE Nifty touched an intraday high of 6236 and an intraday low of 6129.95.

The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 160.30,+3.79%), Larsen & Toubro Ltd. (Rs. 1097.50,+3.21%), State Bank of India (Rs. 1771.80,+3.07%), Bajaj Auto Ltd. (Rs. 1919.00,+2.80%), Hero MotoCorp Ltd. (Rs. 2112.70,+2.79%), among others.

The top losers of the BSE Sensex pack were Jindal Steel & Power Ltd. (Rs. 248.70,-1.45%), Sesa Sterlite Ltd. (Rs. 201.45,-0.69%), Tata Motors Ltd. (Rs. 365.10,-0.44%), among others.

Among the sectors, In BSE, BSE Realty index was at 1382.29 up by 49.51 points or by 3.71%. Housing Development & Infrastructure Ltd. (Rs. 49.40,+6.47%), Anant Raj Ltd. (Rs. 53.65,+6.13%), DLF Ltd. (Rs. 160.40,+5.60%), Indiabulls Real Estate Ltd. (Rs. 67.50,+4.90%), D B Realty Ltd. (Rs. 57.45,+4.74%),.

On the flip side, In BSE, BSETECk index was at 4890.95 down by 13.59 points or by 0.28%. Financial Technologies (India) Ltd. (Rs. 164.20,-2.44%), DB Corp Ltd. (Rs. 267.90,-2.15%), Zee Entertainment Enterprises Ltd. (Rs. 283.90,-0.51%), Jagran Prakashan Ltd. (Rs. 83.00,-0.42%), Vakrangee Softwares Ltd. (Rs. 83.90,-0.42%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2414 shares trade, 1337 shares advanced, 888 shares declined, while 189 remained unchanged.

On the global front, Asian markets were trading higher with Japan's benchmark index Nikkei leading the gains on reports that the Prime Minister may shortly unveil plans to boost the economy. The benchamrk Nikkei ended up 2 per cent at 15,588. Hang Seng was up 0.4 per cent. Shanghai Composite and Straits Times were down 0.1 per cent each.

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Story first published: Wednesday, December 18, 2013, 13:36 [IST]
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