Post Session-Nifty ends at record high; ICICI Bank, ONGC up Analysis for Aug 27, 2014

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Continuing its gaining streak for fourth day, the BSE Sensex closed higher, while the Nifty ended at a fresh record closing high. The undertone in the bourses remained firm as investors maintained long position ahead of the expiry of August F&O contracts this Thursday and the Q1 GDP data likely to be released on Friday. Further, continued support from foreign institutional investors and firm cues fro global peers also give a boost to markets.

The BSE SENSEX closed at 26560.15 up by 117.34 points or by 0.44 per cent and the NSE Nifty ended at 7936.05 up by 31.3 points or by 0.4 per cent.

On the global front, Asian peers closed on mixed note as investors turned cautious about the outlook of Japan and China. Japan"s Nikkie and China"s Sanghai Composite closed on flat note on Wednesday, paring its early gains, while Hong Kong"s Hang Seng settled with marginal losses.

During the day"s trade, the BSE Sensex touched intraday high of 26599.12 and intraday low of 26492.5, while the NSE Nifty touched intraday high of 7946.85 and intraday low of 7916.55.

Meanwhile, the BSE MIDCAP closed at 9326.59 up by 67.77 points or by 0.73 per cent, while the BSE SMLCAP ended at 10253.87 up by 80.49 points or by 0.79 per cent.

On the Sectoral front, oil&gas and auto stocks rose 0.84 per cent and 0.81 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3249, shares advanced were 1668 while 1445 shares declined and 136 were unchanged.

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 427.75,+2.31%), ICICI Bank Ltd. (Rs. 1540.95,+2.05%), Tata Motors Ltd. (Rs. 521.60,+1.70%), Hero MotoCorp Ltd. (Rs. 2604.90,+1.61%), Bajaj Auto Ltd. (Rs. 2290.95,+1.49%), among others.

On the flip side, Sesa Sterlite Ltd. (Rs. 276.55,-1.67%), NTPC Ltd. (Rs. 138.95,-1.45%), Bharat Heavy Electricals Ltd. (Rs. 229.20,-1.29%), HDFC Bank Ltd. (Rs. 836.60,-0.70%), Tata Steel Ltd. (Rs. 522.85,-0.41%), were among notable losers on BSE.

Story first published: Wednesday, August 27, 2014, 17:00 [IST]
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