Sensex up 286 points; Gail gains 3.91% Analysis for Jun 24, 2014

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The key domestic benchmark index, Sensex zoomed over 286 points during the morning session of trade, buoyed by gains in index heavyweights including Gail, State Bank of India, HDFC, Axis Bank, SSLT and Hindalco among others. However, the analysts opined that the market will remain volatile in the near future ahead of futures & options (F&O) expiry on Thursday.

At 10:26AM BSE SENSEX was at 25317.88, up by 286.56 points or by 1.14 per cent, while the NSE Nifty was at 7563.05, up by 69.7 points or by 0.93 per cent.

The BSE MIDCAP was at 9125.27, up by 107.2 points or by 1.19 per cent, while the BSE SMLCAP was at 9953.9, up by 137.55 points or by 1.4 per cent.

The BSE Sensex an touched intraday high of 25336.06 and an intraday low of 25115.83, while the NSE Nifty touched an intraday high of 7572.1 and an intraday low of 7515.2.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 457.55,+4.08%), Housing Development Finance Corporation Ltd. (Rs. 987.30,+2.13%), State Bank of India (Rs. 2656.00,+2.10%), Larsen & Toubro Ltd. (Rs. 1688.00,+2.08%), Axis Bank Ltd. (Rs. 1920.05,+1.95%), among others.

The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 3213.70,-0.54%), Sun Pharmaceutical Industries Ltd. (Rs. 631.40,-0.25%), Oil And Natural Gas Corporation Ltd. (Rs. 436.55,-0.11%), Wipro Ltd. (Rs. 530.90,-0.08%), among others.

Among the sectors, in BSE, BSE_CGS index was at 15960.85 up by 273.11 points or by 1.74%. Suzlon Energy Ltd. (Rs. 30.95,+3.34%), Va Tech Wabag Ltd. (Rs. 1284.05,+2.91%), Crompton Greaves Ltd. (Rs. 195.15,+2.44%), Larsen & Toubro Ltd. (Rs. 1688.00,+2.08%), Pipavav Defence & Offshore Engineering Company Ltd. (Rs. 62.85,+1.62%),.

On the flip side, in BSE, BSE_IT index was at 9004.09 down by -1.69 points or by -0.02%. Infosys Ltd. (Rs. 3213.70,-0.54%), HCL Technologies Ltd. (Rs. 1413.20,-0.32%), Mahindra & Mahindra Ltd. (Rs. 1999.10,-0.12%), Wipro Ltd. (Rs. 530.90,-0.08%), MindTree Ltd. (Rs. 886.00,-0.08%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2283 shares traded, 1603 shares advanced, 599 shares declined while 81 remained unchanged.

On the global front, Asian stock markets were edging higher, after opening on a sluggish note amid worries about the situation in Iraq. Nikkei 225 was trading up by 13.20 points, while Hang Seng was up by 100 points. Straits Times was marginally up by 6.48 points.

Story first published: Tuesday, June 24, 2014, 10:48 [IST]
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