Post Session: Sensex ends 100 pts higher; Infy, TCS up 2% Analysis for Jul 23, 2014

Posted By: Religare
Subscribe to GoodReturns

Continuing its gaining streak for seventh straight session, the Indian benchmark indices ended higher, led by gains in index heavyweights such as Reliance Industries, HDFC Bank, Bharti Airtel and ITC. On the sectoral front, IT, Teck, realty, power, oil & gas and realty stocks were among notable gainers on BSE. Meanwhile, profit booking were seen in the broader markets which capped upmove.

The BSE SENSEX closed at 26147.33 up by 121.53 points or by 0.47 per cent, while the NSE Nifty ended at 7795.75 up by 27.9 points or by 0.36 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 26188.64 and intraday low of 26000.40, while the NSE Nifty touched intraday high of 7809.20 and intraday low of 7752.90.

On the global front, most of Asian peers, except Japan"s Nikkei 225, ended higher as upbeat corporate earnings and improving economic data fueled hope that geo-political tension would not affect global economic growth. Japan's Nikkei ended lower in choppy trade as investors turned cautious amid ongoing geopolitical risk such as the Gaza crisis, dragging down index-heavyweight SoftBank Corp and exporters such as Honda Motor Co. Meanwhile, European stocks edge higher in early trade on Wednesday on strong set earnings by US companies and economic data.

Back home, the broader market continued its lackluster trade on Wednesday and closed on mixed note. The BSE MIDCAP closed at 9311.72 up by 0.63 points or by 0.01 per cent, while the BSE SMLCAP ended at 10204.18 down by 64.58 points or by 0.63 per cent.

On the Sectoral front, Teck and IT indices gained 2.24 per cent and 1.74 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3207, shares advanced were 1389 while 1707 shares declined and 111 were unchanged.

The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 3347.00,+3.46%), Hindalco Industries Ltd. (Rs. 193.10,+2.58%), Tata Consultancy Services Ltd. (Rs. 2586.90,+2.21%), Wipro Ltd. (Rs. 569.35,+1.87%), Mahindra & Mahindra Ltd. (Rs. 1197.00,+1.58%), among others.

On the flip side, Tata Steel Ltd. (Rs. 554.95,-1.27%), Tata Power Company Ltd. (Rs. 103.05,-1.25%), Maruti Suzuki India Ltd. (Rs. 2489.10,-0.94%), Oil And Natural Gas Corporation Ltd. (Rs. 405.10,-0.91%), Axis Bank Ltd. (Rs. 2001.15,-0.82%, were among notable losers on BSE.

Story first published: Wednesday, July 23, 2014, 17:12 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC