Market hits record high amid firm global cues Analysis for Jul 02, 2014

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The Market continued the gaining momentum with the Sensex trading above 200 points nearing to its all-time high of 25,735.87 supported by a surge in the stocks including SSLT, Coal India, Sun Pharma, LNT, HDFC, and State bank of India among others. Tracking the momentum, the 50-share Nifty index touched its psychological mark of 7650 and was now trading close to its next crucial resistance level of 7700. The surge in the market is supported by positive global sentiments and pre-Budget optimism that is fuelling up investors sentiments in the market.

At 10:18AM BSE SENSEX was at 25732.89, up by 216.54 points or by 0.85 per cent, while NSE Nifty was at 7692.5 up by 57.8 points or by 0.76 per cent.

The BSE MIDCAP was at 9527.4, up by 93.66 points or by 0.99 per cent, while the BSE SMLCAP was at 10432.98, up by 111.35 points or by 1.08 per cent.

The BSE Sensex touched an intraday high of 25737.07 and an intraday low of 25660.16 The NSE Nifty touched an intraday high of 7697.2 and an intraday low of 7677.3.

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 305.55,+3.14%), Coal India Ltd. (Rs. 392.70,+2.04%), Sun Pharmaceutical Industries Ltd. (Rs. 690.00,+1.56%), Housing Development Finance Corporation Ltd. (Rs. 996.85,+1.55%), Larsen & Toubro Ltd. (Rs. 1752.00,+1.54%), among others.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 448.00,-0.65%), Mahindra & Mahindra Ltd. (Rs. 1190.00,-0.35%), among others.

Among the sectors, In BSE, BSE Metal index was at 13616.73 up by 250.84 points or by 1.88%. Sesa Sterlite Ltd. (Rs. 305.55,+3.14%), Hindustan Zinc Ltd. (Rs. 173.40,+2.97%), JSW Steel Ltd. (Rs. 1299.85,+2.41%), Coal India Ltd. (Rs. 392.70,+2.04%), Jindal Steel & Power Ltd. (Rs. 332.95,+1.82%),.

On the flip side, In BSE, BSE_FMCG index was at 6723.49 down by 24.36 points or by 0.36%. Nestle India Ltd. (Rs. 4935.00,-0.19%), Dabur India Ltd. (Rs. 186.95,-0.03%),.The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares 2386 traded, 1642 shares advanced, 661 shares declined while 83 remained unchanged.

Story first published: Wednesday, July 2, 2014, 10:48 [IST]
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