Markets maintain uptrend; Cipla, Bharti Airtel rally Analysis for Sep 02, 2014

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The Markets continued to trade in positive terrain with the Sensex up 48 points amid buying interest in index heavyweights including Cipla, Bharti Airtel, Sun Pharma, Bajaj Auto and Axis Bank among others. Tracking the momentum, the Nifty registered a fresh life-high of 8,057.30 in the trade today. Further, the sentiments of the investors were bolstered after the current account deficit for the first quarter came in at 1.7 percent of GDP versus 4.8 percent a year ago. The number is largely in line with expectations but core sector growth slowed down to just 2.7 percent in July.

At 10:20AM BSE SENSEX was at 26916.3, up by 48.75 points or by 0.18 p0er cent, while the NSE Nifty was at 8056.8, up by 29.1 points or by 0.36 per cent.

The BSE MIDCAP was at 9499.59, up by 55 points or by 0.58 per cent, while the BSE SMLCAP was at 10481.37, up by 83.78 points or by 0.81 per cent.

The BSE Sensex touched an intraday high of 26960.52 and an intraday low of 26886.22, while the NSE Nifty touched an intraday high of 8062.25 and an intraday low of 8036.55.The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 565.15,+6.69%), Bharti Airtel Ltd. (Rs. 388.60,+3.36%), Sun Pharmaceutical Industries Ltd. (Rs. 857.40,+1.82%), Bajaj Auto Ltd. (Rs. 2297.00,+1.51%), Axis Bank Ltd. (Rs. 410.05,+1.15%), among others.The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 3562.85,-1.13%), Larsen & Toubro Ltd. (Rs. 1562.10,-0.98%), Hindustan Unilever Ltd. (Rs. 733.00,-0.97%), Wipro Ltd. (Rs. 560.70,-0.89%), Tata Motors Ltd. (Rs. 515.50,-0.84%), among others.

Among the sectors, In BSE, BSE_HCS index was at 13583.07 up by 202.81 points or by 1.52%. Cipla Ltd. (Rs. 565.15,+6.69%), Biocon Ltd. (Rs. 485.50,+2.48%), Ranbaxy Laboratories Ltd. (Rs. 647.50,+1.90%), Glenmark Pharmaceuticals Ltd. (Rs. 732.40,+1.82%), Sun Pharmaceutical Industries Ltd. (Rs. 857.40,+1.82%),.On the flip side, In BSE, BSE Metal index was at 12541.17 down by -53.48 points or by -0.42%. Bhushan Steel Ltd. (Rs. 91.50,-4.98%), Jindal Steel & Power Ltd. (Rs. 244.45,-1.65%), JSW Steel Ltd. (Rs. 1305.10,-1.13%), Steel Authority of India (SAIL) Ltd. (Rs. 83.95,-0.83%), Sesa Sterlite Ltd. (Rs. 281.20,-0.60%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2285 shares traded, 1431 shares advanced, 764 shares declined while 90 remained unchanged.

Story first published: Tuesday, September 2, 2014, 10:48 [IST]
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