Post Session- Sensex kick-starts week on strong note Analysis for Sep 22, 2014

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Shrugging off week cues from Asian peers, the key domestic benchmarks ended on a strong note on Monday, as the Sensex rallied by more than 100 points led by gains in consumer durables and FMCG stocks as investors remained bullish over the prospects of Asia"s third biggest economy ahead of Prime Minister Narendra Modi"s visit to the US. China"s commitment of investing USD 20 billion in India over five years is also expected to boost economic growth. However, the Sensex may witness volatility later this week amid the expiry of the September futures and options (F&O) contracts this Thursday.

Asian stocks ended lower after G20 finance chiefs and central bankers stressed that low interest rates may give rise to financial market risks as leading economies depend on monetary stimulus to boost economic growth. China"s Shanghai Composite closed lower as the country"s Finance Minister warned that growth in the world"s second biggest economy faced downward pressure. Hang Seng tumbled while Japan"s Nikkei 225 ended in the red as a stronger yen dimmed the appeal of exporter stocks.

The BSE SENSEX closed at 27,206.74, up by 116.32 points or by 0.43 per cent, and the NSE Nifty closed at 8,146.3, up by 24.85 points or by 0.31 per cent.

The BSE Sensex touched intraday high of 27,254.8 and intraday low of 26,918.93. The NSE Nifty touched intraday high of 8,159.9 and intraday low of 8,064.8.

Meanwhile, the BSE MIDCAP closed at 9,884.82, up by 19.56 points or by 0.2 per cent, while the BSE SMLCAP ended at 11,248.69, up by 57.51 points or by 0.51 per cent.

The Market breadth, indicating the overall health of the market, was strong, On BSE out of total shares traded 3290, shares advanced were 1760 while 1425 shares declined and 105 were unchanged.

On the Sectoral front, Consumer Durables and FMCG rose 3 per cent and 1.9 per cent, respectively.

he top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 539.40,+3.93%), Oil And Natural Gas Corporation Ltd. (Rs. 419.10,+3.48%), ITC Ltd. (Rs. 370.65,+3.12%), Hero MotoCorp Ltd. (Rs. 2999.80,+1.65%), State Bank of India (Rs. 2601.95,+1.30%), among others.

Story first published: Monday, September 22, 2014, 16:48 [IST]
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