Markets remain firm ; ONGC, Tata Motors rally Analysis for Aug 27, 2014

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Supported by broad based buying, the key domestic benchmark indices remained firm during the morning session of trade. The major gainers on the D-street included ONGC, ICICI Bank, Tata Motors, Bajaj Auto, Dr. Reddy and SBIN among others. However, investors may remain cautious ahead of the expiry of August F&O contracts this Thursday and the Q1 GDP data likely to be released on Friday. On the global front, Asian shares were steady in early trades while the Nikkei seems to be consolidating after recent gains. The Nikkei was trading in negative, down by 0.16 per cent. Hang Seng was down up 0.03 per cent and Straits Times gained 0.53 per cent.

At 10:26AM BSE SENSEX was at 26574.19 up by 131.38 points or by 0.5 per cent, while the NSE Nifty was at 7939.75 up by 35 points or by 0.44 per cent.

The BSE MIDCAP was at 9312.58, up by 53.76 points or by 0.58 per cent, while the BSE SMLCAP was at 10271.05, up by 97.67 points or by 0.96 per cent.

The BSE Sensex touched an intraday high of 26599.12 and an intraday low of 26549.75, while the NSE Nifty touched an intraday high of 7946.85 and an intraday low of 7932.4.

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 426.40,+1.99%), Tata Motors Ltd. (Rs. 522.55,+1.88%), ICICI Bank Ltd. (Rs. 1534.75,+1.64%), Bajaj Auto Ltd. (Rs. 2287.25,+1.32%), Dr. Reddy's Laboratories Ltd. (Rs. 2922.35,+1.10%), among others.

The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 138.80,-1.56%), GAIL (India) Ltd. (Rs. 429.95,-0.88%), Hindalco Industries Ltd. (Rs. 169.65,-0.59%), Sesa Sterlite Ltd. (Rs. 279.70,-0.55%), Coal India Ltd. (Rs. 355.70,-0.27%), among others.

On the sectoral front, In BSE, BSE_CDS index was at 9255.22 up by 114.35 points or by 1.25%. Blue Star Ltd. (Rs. 361.80,+6.88%), Videocon Industries Ltd. (Rs. 174.00,+3.45%), PC Jeweller Ltd. (Rs. 163.70,+1.99%), TTK Prestige Ltd. (Rs. 4690.00,+1.43%), Symphony Ltd. (Rs. 1220.00,+1.21%),.

On the flip side, In BSE, BSE Metal index was at 12364.02 down by -19.78 points or by -0.16%. Bhushan Steel Ltd. (Rs. 106.65,-4.99%), Hindalco Industries Ltd. (Rs. 169.65,-0.59%), Hindustan Zinc Ltd. (Rs. 164.95,-0.57%), NMDC Ltd. (Rs. 169.95,-0.56%), Sesa Sterlite Ltd. (Rs. 279.70,-0.55%),.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2238 shares traded, 1384 shares advanced, 774 shares declined while 80 remained unchanged.

Story first published: Wednesday, August 27, 2014, 11:00 [IST]
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