Market remains upbeat; July WPI at 5-month low Analysis for Aug 14, 2014

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The key domestic benchmark indices continued its gaining momentum during the noon trading session with the Sensex up 145 points led by gains in FMCG, pharma and IT sectors on the back of positive cues from global peers. Tracking the momentum, the 50-share index Nifty was also trading above its crucial psychological level of 7750, supported by gains in GAIL, HDFC Bank, Tata Motors and Lupin. Further, the sentiments of the investors remained bolstered as wholesale inflation eased to 5-month low 5.19 per cent in July helped mainly by a moderation in fuel costs, government data showed on Thursday.

At 1:22PM BSE SENSEX was at 26063.52, up by 144.57 points or by 0.56 per cent, while the NSE Nifty was at 7778.45, up by 38.9 points or by 0.5 per cent.

The BSE MIDCAP was at 8969.01, up by 68.26 points or by 0.77 per cent, while the BSE SMLCAP was at 9775.72, up by 64.41 points or by 0.66 per cent.

The BSE Sensex touched an intraday high of 26079.28 and an intraday low of 25945.35, while the NSE Nifty touched an intraday high of 7781 and an intraday low of 7739.1.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 421.00,+2.57%), Sesa Sterlite Ltd. (Rs. 287.25,+2.42%), Tata Motors Ltd. (Rs. 483.05,+2.20%), ICICI Bank Ltd. (Rs. 1479.35,+1.88%), HDFC Bank Ltd. (Rs. 827.50,+1.86%), among others.

The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2508.95,-2.77%), Housing Development Finance Corporation Ltd. (Rs. 1118.10,-2.00%), Tata Steel Ltd. (Rs. 533.00,-1.64%), Wipro Ltd. (Rs. 545.35,-0.66%), Bharti Airtel Ltd. (Rs. 366.45,-0.50%), among others.

Among the sectors, In BSE, BSE_CGS index was at 14244.92 up by 163.15 points or by 1.16%. Havells India Ltd. (Rs. 1215.90,+3.38%), Crompton Greaves Ltd. (Rs. 196.60,+3.01%), Alstom India Ltd. (Rs. 503.00,+2.13%), AIA Engineering Ltd. (Rs. 785.45,+2.05%), Va Tech Wabag Ltd. (Rs. 1374.90,+2.01%),.On the flip side, In BSE, BSE_IT index was at 9876.24 down by -6.07 points or by -0.06%. HCL Technologies Ltd. (Rs. 1528.45,-1.68%), MphasiS Ltd. (Rs. 423.10,-1.40%), Persistent Systems Ltd. (Rs. 1205.25,-1.10%), Wipro Ltd. (Rs. 545.35,-0.66%), MindTree Ltd. (Rs. 1006.00,-0.45%),.The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2884 shares traded, 1453 shares advanced, 1313 shares declined while 118 remains unchanged.

Story first published: Thursday, August 14, 2014, 13:48 [IST]
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