Post Session: Sensex, Nifty end higher; RIL up 2% Analysis for Jul 21, 2014

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Continuing its gaining momentum for fifth straight day, the Indian benchmark indices ended higher on Monday as gains in FMCG and oil &gas stocks. The investors bet on oil and gas stocks after country"s largest private sector enterprise Reliance Industries has once again delivered better financial results which beat analyst expectations on every parameter. The Mukesh Ambani-owned company has posted a growth of 13.74 per cent in its consolidated net profit at Rs 5,957 crore for the first quarter ended June 30, 2014, despite weak regional refining margins and a planned turnaround in our refinery. On the global front, Asian markets ended lower on Monday as news of downing of Malaysian passenger jet in Ukraine spooked investors, tempting them to go for profit booking.

The BSE SENSEX closed at 25685.18 up by 43.62 points or by 0.17 per cent, while the NSE Nifty ended at 7684.2 up by 20.3 points or by 0.26 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 25861.15 and intraday low of 25677.71, while the NSE Nifty touched intraday high of 7722.1 and intraday low of 7674.

In a similar fashion, the broader market also ended higher. The BSE MIDCAP closed at 9299.73 up by 46.93 points or by 0.51 per cent, while the BSE SMLCAP closed at 10261.74 up by 80.9 points or by 0.79 per cent.On the Sectoral front, FMCG and oil and gas indices gained 1.13 per cent and 0.57 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3212, shares advanced were 1809 while 1293 shares declined and 110 were unchanged.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1006.70,+2.61%), Reliance Industries Ltd. (Rs. 996.20,+2.00%), ITC Ltd. (Rs. 349.50,+1.55%), Axis Bank Ltd. (Rs. 2018.00,+1.10%), Hindustan Unilever Ltd. (Rs. 627.25,+0.84%), among others.

On the flip side, Tata Power Company Ltd. (Rs. 103.70,-1.94%), GAIL (India) Ltd. (Rs. 437.00,-1.86%), Bharat Heavy Electricals Ltd. (Rs. 234.20,-1.58%), State Bank of India (Rs. 2523.05,-1.50%), Infosys Ltd. (Rs. 3211.00,-1.30%), were among notable losers on BSE.

Story first published: Monday, July 21, 2014, 17:00 [IST]
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