Markets remain firm; Hero Moto Corp, Maruti rally Analysis for Sep 01, 2014

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The key domestic benchmark indices continued to maintain the upbeat trend, with the Sensex up 172 points and Nifty above 61 points on better-than-expected GDP growth in the first quarter. India's gross domestic product (GDP) grew at a nine-quarter high of 5.7 per cent, compared with 4.6 per cent in the previous quarter, driven largely by industry, official data showed on Friday. Further auto stocks remains in focus as companies are scheduled to release August sales numbers. Meanwhile, Maruti Suzuki surged over 3 percent on strong growth in August sales numbers as it sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year.

At 1:06PM BSE SENSEX was at 26810.38, up by 172.27 points or by 0.65 per cent, while the NSE Nifty was at 8016.15, up by 61.8 points or by 0.78 per cent.

The BSE MIDCAP was at 9399.35, up by 100.45 points or by 1.08 per cent, while the BSE SMLCAP was at 10369.34, up by 104.89 points or by 1.02 per cent.

The BSE Sensex touched an intraday high of 26854.55 and an intraday low of 26732.39, while the NSE Nifty touched an intraday high of 8023.3 and an intraday low of 7984.

The top gainers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2710.40,+3.92%), Maruti Suzuki India Ltd. (Rs. 2873.00,+3.18%), Larsen & Toubro Ltd. (Rs. 1568.90,+2.75%), Cipla Ltd. (Rs. 527.00,+2.47%), Coal India Ltd. (Rs. 364.40,+2.24%), among others.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 272.90,-1.53%), Sun Pharmaceutical Industries Ltd. (Rs. 842.00,-1.47%), Tata Motors Ltd. (Rs. 517.95,-1.23%), Bharat Heavy Electricals Ltd. (Rs. 239.05,-0.71%), ITC Ltd. (Rs. 352.70,-0.69%), among others.

Among the sectors, In BSE, BSE_CGS index was at 15257.1 up by 343.92 points or by 2.31%. ABB India Ltd. (Rs. 1094.80,+11.41%), Lakshmi Machine Works Ltd. (Rs. 4103.55,+4.47%), Alstom India Ltd. (Rs. 506.00,+4.02%), Suzlon Energy Ltd. (Rs. 22.35,+3.95%), Crompton Greaves Ltd. (Rs. 201.55,+3.49%),.

On the flip side, In BSE, BSE_HCS index was at 13363.36 down by 6.49 points or by 0.05%. Sun Pharmaceutical Industries Ltd. (Rs. 842.00,-1.47%), Ranbaxy Laboratories Ltd. (Rs. 634.50,-0.95%), Aurobindo Pharma Ltd. (Rs. 812.85,-0.62%), Piramal Enterprises Ltd. (Rs. 690.00,-0.12%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2931 shares traded, 1791 shares advanced, 1005 shares declined while 135 remained unchanged.

Story first published: Monday, September 1, 2014, 13:36 [IST]
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