Post Session- Sensex ends flat amid profit booking Analysis for Mar 21, 2014

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The key domestic benchmarks ended on a flat note, with a positive bias today, as investors and speculators booked profits after the Sensex and Nifty reached record highs earlier in the week. Selling pressure in Oil & Gas and PSU stocks weighed on the bourses amid concerns that fuel retailers may have to absorb bigger than expected losses on under recovery this fiscal. Strong buying by foreign investors continues to support the domestic benchmarks as FIIs bet on a stable government after the elections.

Asian stocks rebounded smartly today after steep losses in the previous session as robust US economic data boosted sentiment while Chinese stocks surged amid speculation that policymakers are loosening funding curbs for property developers, which may bolster growth in the world"s second biggest economy. Shanghai Composite rallied more than 2 per cent and Hang Seng posted a gain of over 1 per cent. Japanese markets were closed today.

The BSE SENSEX closed at 21,753.75, up by 13.66 points or by 0.06 per cent and the NSE Nifty was at 6,493.2, up by 10.1 points or by 0.16 per cent.

The BSE Sensex touched intraday high of 21,870.11 and intraday low of 21,729.9 The NSE Nifty touched intraday high of 6,522.9 and intraday low of 6,485.7.

Meanwhile, the BSE MIDCAP closed at 6,769.94, up by 54.64 points or by 0.81 per cent, while the BSE SMLCAP ended at 6,785.11 up by 58.44 points or by 0.87 per cent.

On the Sectoral front, Metal and Realty advanced 1.93 per cent and 1.86 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3082, shares advanced were 1643 while 1288 shares declined and 151 were unchanged.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 362.50,+3.57%), Hindalco Industries Ltd. (Rs. 123.05,+3.10%), Wipro Ltd. (Rs. 567.95,+3.09%), Axis Bank Ltd. (Rs. 1393.40,+2.69%), Tata Motors Ltd. (Rs. 389.15,+2.38%), among others.

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Story first published: Friday, March 21, 2014, 16:36 [IST]
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