Markets open higher ahead of F&O expiry Analysis for Aug 28, 2014

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The key domestic benchmark indices opened the day on a positive note with the Sensex touching lifetime high of 26,643 in early trade ahead of the August F&O expiry. Tracking the momentum, the 50-share Nifty index also managed to reclaim its crucial psychological level of 7950, supported by gains in oil & gas, capital goods, consumer durable and banking stocks. Further, the investors will be eyeing the Q1 GDP data to be released tomorrow which may show that the economy expanded at the fastest pace in two years with GDP expected to have grown 5.5 per cent, year on year in the April-June period, up from an annual 4.6 per cent expansion in Q4 FY 2013-14.

At 9:28AM BSE SENSEX was at 26619.48, up by 59.33 points or by 0.22 per cent, while the NSE Nifty was at 7943 up by 6.95 points or by 0.09 per cent.

The BSE MIDCAP was at 9348.49, up by 21.9 points or by 0.23 per cent, while the BSE SMLCAP was at 10308.93, up by 55.06 points or by 0.54 per cent.

The BSE Sensex touched an intraday high of 26642.81 and an intraday low of 26596.67, while the NSE Nifty touched an intraday high of 7943.25 and an intraday low of 7942.25.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 562.50,+0.87%), ICICI Bank Ltd. (Rs. 1553.80,+0.83%), Larsen & Toubro Ltd. (Rs. 1514.60,+0.80%), Axis Bank Ltd. (Rs. 401.80,+0.79%), Tata Motors Ltd. (Rs. 525.70,+0.79%), among others.

The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2581.05,-0.92%), Hindalco Industries Ltd. (Rs. 171.15,-0.49%), Sun Pharmaceutical Industries Ltd. (Rs. 857.80,-0.46%), Cipla Ltd. (Rs. 511.10,-0.40%), Oil And Natural Gas Corporation Ltd. (Rs. 426.45,-0.30%), among others.

Among the sectors, In BSE, BSE_CGS index was at 14794.2 up by 91.61 points or by 0.62%. Bharat Electronics Ltd. (Rs. 2170.00,+4.11%), Pipavav Defence & Offshore Engineering Company Ltd. (Rs. 46.55,+1.20%), Suzlon Energy Ltd. (Rs. 21.80,+1.16%), Larsen & Toubro Ltd. (Rs. 1514.60,+0.80%), Bharat Heavy Electricals Ltd. (Rs. 231.00,+0.79%),.

On the flip side, In BSE, BSE_HCS index was at 13406.07 down by 8.29 points or by 0.06%. Ipca Laboratories Ltd. (Rs. 740.20,-2.01%), Sun Pharmaceutical Industries Ltd. (Rs. 857.80,-0.46%), Biocon Ltd. (Rs. 469.10,-0.46%), Ranbaxy Laboratories Ltd. (Rs. 646.00,-0.42%), Cipla Ltd. (Rs. 511.10,-0.40%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 1472 shares traded, 909 shares advanced, 510 shares declined while 53 remained unchanged.

Story first published: Thursday, August 28, 2014, 9:48 [IST]
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