Sensex up 400 points; realty stocks rally Analysis for Sep 18, 2014

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Markets edged higher in the noon trades on the back of positive global cues. The 30-share benchmark index reclaimed 27000 level supported by banks, oil & gas and capital goods stocks. On the global front, US Federal Reserve announced a further USD 10 billion reduction in its monthly purchases, leaving the program on course to be shuttered next month. It also made clear that record-low interest rates will be around for at least a few more months. Back home, the 50-share Nifty index also managed to bounce back and is now trading near its crucial psychological level of 8100.

At 1:11PM BSE SENSEX was at 27047.35, up by 416.06 points or by 1.56 per cent, while the NSE Nifty was at 8085.05, up by 109.55 points or by 1.37 per cent.

The BSE MIDCAP was at 9853.35 up by 169.43 points or by 1.75 per cent, while the BSE SMLCAP was at 11110.21, up by 280.37 points or by 2.59 per cent.

The BSE Sensex touched an intraday high of 27047.77 and an intraday low of 26503.08, while the NSE Nifty touched an intraday high of 8094 and an intraday low of 7939.7.The top gainers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2934.90,+3.34%), Housing Development Finance Corporation Ltd. (Rs. 1050.00,+3.18%), Bharat Heavy Electricals Ltd. (Rs. 227.00,+2.85%), Larsen & Toubro Ltd. (Rs. 1562.00,+2.72%), Wipro Ltd. (Rs. 581.45,+2.49%), among others.The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 743.10,-1.56%), Infosys Ltd. (Rs. 3729.00,-0.30%), among others.

Among the sectors, In BSE, BSE Realty index was at 1780.29 up by 71.08 points or by 4.16%. Unitech Ltd. (Rs. 25.55,+11.33%), Housing Development & Infrastructure Ltd. (Rs. 92.20,+7.84%), Indiabulls Real Estate Ltd. (Rs. 68.35,+6.05%), D B Realty Ltd. (Rs. 75.60,+5.00%), Oberoi Realty Ltd. (Rs. 249.65,+4.04%),.

On the flip side, In BSE, BSE_IT index was at 10443.58 down by 76.28 points or by 0.74%. Infosys Ltd. (Rs. 3729.00,-0.30%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 3034 shares traded, 2113 shares advanced were while 816 shares declined while 105 remained unchanged.

Story first published: Thursday, September 18, 2014, 13:36 [IST]
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