Post Session: Sensex ends higher; IT, pharma stocks support Analysis for Jun 27, 2014

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Driven by strong gains in IT and pharma stocks such as TCS, Sun Pharma and Ranbaxy, the key domestic benchmarks closed higher on Friday. Healthacare stocks like Sun Pharmaceutical Industries and Ranbaxy Laboratories rallied on the U.S. regulator's approval for a key drug while IT stocks gained after rival Accenture Plc reported robust quarterly revenue growth. Accenture has posted 4 percent growth in its diluted earnings per share at USD 1.26 compared with USD 1.21 for the third quarter last year, helped by robust growth in all business segments. However, losses in index heavyweights such as ICICI Bank, Tata Motors, Mahindra & Mahindra, Sesa Sterlite, Tata Steel and Gail India, Bharti Airtel, BHEL, Hindalco Industries and Coal India capped market gains.

The BSE SENSEX closed at 25099.92 up by 37.25 points or by 0.15 per cent and the NSE Nifty ended at 7508.8 up by 15.6 points or by 0.21 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 25209.61 and intraday low of 25032.94 The NSE Nifty touched intraday high of 7538.75 and intraday low of 7482.30.

Meanwhile, the BSE MIDCAP closed at 9205.17 up by 24.33 points or by 0.27 per cent, while the BSE SMLCAP ended at 10022.29 up by 40.91 points or by 0.41 per cent.

On the sectoral front, Healthcare and IT stocks rose 2.48 per cent and 2.45 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3247, shares advanced were 1781 while 1343 shares declined and 123 were unchanged.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 660.65,+3.97%), Tata Consultancy Services Ltd. (Rs. 2398.40,+3.85%), Cipla Ltd. (Rs. 437.30,+2.59%), Wipro Ltd. (Rs. 545.85,+1.90%), Dr. Reddy's Laboratories Ltd. (Rs. 2550.00,+1.80%), among others.

On the flip side, Hindalco Industries Ltd. (Rs. 160.95,-2.63%), Bharat Heavy Electricals Ltd. (Rs. 244.90,-2.57%), Bharti Airtel Ltd. (Rs. 331.60,-2.08%), Sesa Sterlite Ltd. (Rs. 289.25,-1.78%), Mahindra & Mahindra Ltd. (Rs. 1153.85,-1.69%), were among notable losers on BSE.

Story first published: Friday, June 27, 2014, 17:12 [IST]
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