Sensex up 78 points; Railway stocks rally Analysis for Aug 28, 2014

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Maintaining the momentum, the markets continued their upward journey in the morning session of trade supported by banking and financials, capital goods and oil & gas stocks. Further, railway-related stocks were trading higher after the government notified the liberalised foreign direct investment (FDI) norms for rail infrastructure, allowing 100 per cent FDI through automatic route in the sector. However, the investors opined that the market would turn volatile in the latter half of the trading session with expiry of August derivative contracts today.

At 10:19AM BSE SENSEX was at 26638.34, up by 78.19 points or by 0.29 per cent, while the NSE Nifty was at 7960.3, up by 24.25 points or by 0.31 per cent.

The BSE MIDCAP was at 9328.67, up by 2.08 points or by 0.02 per cent, while the BSE SMLCAP was at 10292.68, up by 38.81 points or by 0.38 per cent.

The BSE Sensex touched an intraday high of 26674.38 and an intraday low of 26596.67, while the NSE Nifty touched an intraday high of 7967.8 and an intraday low of 7942.25.The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 232.60,+1.48%), GAIL (India) Ltd. (Rs. 441.50,+1.44%), Tata Motors Ltd. (Rs. 528.30,+1.28%), Larsen & Toubro Ltd. (Rs. 1518.00,+1.03%), ICICI Bank Ltd. (Rs. 1556.25,+0.99%), among others.

The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 137.65,-1.22%), Hindalco Industries Ltd. (Rs. 170.70,-0.76%), Cipla Ltd. (Rs. 509.55,-0.70%), Infosys Ltd. (Rs. 3611.10,-0.60%), Tata Power Company Ltd. (Rs. 88.20,-0.51%), among others.

Among the sectors, In BSE, BSE Oil&Gas index was at 11158.04 up by 90.16 points or by 0.81%. Bharat Petroleum Corporation Ltd. (Rs. 698.00,+3.02%), Hindustan Petroleum Corporation Ltd. (Rs. 463.20,+2.06%), Indian Oil Corporation Ltd. (Rs. 361.60,+1.84%), GAIL (India) Ltd. (Rs. 441.50,+1.44%), Castrol India Ltd. (Rs. 349.30,+1.00%),.

On the flip side, In BSE, BSE_CDS index was at 9157.88 down by -41.21 points or by -0.45%. Blue Star Ltd. (Rs. 353.10,-1.23%), Titan Company Ltd. (Rs. 359.55,-1.02%), Whirlpool of India Ltd. (Rs. 468.15,-0.34%), Rajesh Exports Ltd. (Rs. 143.60,-0.31%), Symphony Ltd. (Rs. 1215.00,-0.21%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2189 shares traded, 1168 shares advanced, 942 shares declined 79 remained unchanged.

Story first published: Thursday, August 28, 2014, 10:48 [IST]
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