Post Session-Sensex ends flat on profit booking Analysis for Apr 10, 2014

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The key domestic benchmarks ended on a flat note with positive bias today, retreating from record highs, as investors booked profit in blue chips stocks such as Infosys on caution ahead of the release of quarterly earnings and inflation data next week. During the day"s trading, both BSE Sensex and CNX Nifty hit their fresh record highs on back of buying in stocks of capital goods, realty, consumer durables, auto and healthcare sectors. Riding on optimism that the elections will lead to the formation of a growth and reform friendly government, foreign institutional investors (FIIs) continued their buying spree as they bought net Rs. 1043.86 crore yesterday as per provisional data from the stock exchanges.

Most Asian stocks rallied today as Chinese shares rallied on a new cross-border investment rule. China"s Shanghai Composite rose more than 1 per cent to their highest in nearly two months after Beijing's securities regulator said it would allow cross-border stock investment between Hong Kong and Shanghai. Tracking the news, the Hang Seng Index ended up 1.5 per cent, to hit its highest close since January 2.

The BSE SENSEX closed at 22715.33 up by 12.99 points or by 0.06 per cent and the NSE Nifty ended at 6796.4 up by 0.2 points or by 0 per cent.

The BSE Sensex touched intraday high of 22792.49 and intraday low of 22644.43 and the NSE Nifty touched intraday high of 6819.05 and intraday low of 6777.30.

Meanwhile, the BSE MIDCAP closed at 7331.28 up by 45.89 points or by 0.63 per cent, while the BSE SMLCAP settled at 7473.88 up by 46.53 points or by 0.63 per cent.

On the Sectoral front, power and CGS rose 2.52 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 3051, shares advanced were 1599 while 1301 shares declined and 151 were unchanged.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 87.25,+4.12%), Bharat Heavy Electricals Ltd. (Rs. 186.55,+2.70%), NTPC Ltd. (Rs. 123.75,+2.57%), Tata Motors Ltd. (Rs. 430.80,+2.33%), State Bank of India (Rs. 2026.85,+2.15%), among others.

On the flip side, Dr. Reddy's Laboratories Ltd. (Rs. 2549.10,-2.72%), Sun Pharmaceutical Industries Ltd. (Rs. 616.20,-1.85%), Hero MotoCorp Ltd. (Rs. 2205.10,-1.70%), Infosys Ltd. (Rs. 3206.60,-1.43%), ITC Ltd. (Rs. 342.55,-1.42%), were among notable losers on BSE.

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Story first published: Thursday, April 10, 2014, 16:12 [IST]
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