Markets pare losses; Sun Pharma, Hindalco rally Analysis for Sep 26, 2014

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Paring the early losses, the markets bounced back in the positive territory during the morning session of trade amid fresh buying by fund and retail investors in oil, metal and financials despite weakness in the global markets. The 30-share benchmark index was trading up by 45 points, helped by gains in index heavyweights including Hindalco, Sun Pharma, Tata Steel, ONGC, Axis bank and LT among others. Tracking the momentum, the 50-share Nifty index also managed to reclaim its crucial psychological level of 7950, supported by gains in banks, capital goods, oil & gas and power stocks.

At 10:21AM BSE SENSEX was at 26513.31, up by 44.95 points or by 0.17 per cent, while the NSE Nifty was at 7926.85, up by 15 points or by 0.19 per cent.

The BSE MIDCAP was at 9376.68 up by 25.96 points or by 0.28 per cent, while the BSE SMLCAP was at 10517.67 up by 72.88 points or by 0.7 per cent.

The BSE Sensex touched an intraday high of 26578.55 and an intraday low of 26351.27, while the NSE Nifty touched an intraday high of 7952.95 and an intraday low of 7884.85.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 154.60,+3.38%), Oil And Natural Gas Corporation Ltd. (Rs. 407.85,+2.05%), Tata Steel Ltd. (Rs. 469.00,+1.97%), Sun Pharmaceutical Industries Ltd. (Rs. 786.95,+1.70%), Mahindra & Mahindra Ltd. (Rs. 1373.50,+1.67%), among others.

The top losers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1044.10,-1.30%), Hero MotoCorp Ltd. (Rs. 2907.15,-0.93%), ITC Ltd. (Rs. 373.15,-0.85%), Coal India Ltd. (Rs. 343.65,-0.84%), Hindustan Unilever Ltd. (Rs. 754.55,-0.65%), among others.

Among the sectors, In BSE, BSE Realty index was at 1617.41 up by 25.05 points or by 1.57%. Indiabulls Real Estate Ltd. (Rs. 68.60,+3.39%), Unitech Ltd. (Rs. 19.85,+2.58%), DLF Ltd. (Rs. 159.70,+2.50%), Housing Development & Infrastructure Ltd. (Rs. 82.35,+1.92%), Prestige Estates Projects Ltd. (Rs. 215.95,+1.60%),.

On the flip side, In BSE, BSE_FMCG index was at 7669.97 down by -21.18 points or by -0.28%. ITC Ltd. (Rs. 373.15,-0.85%), Hindustan Unilever Ltd. (Rs. 754.55,-0.65%), United Breweries Ltd. (Rs. 712.00,-0.20%), Colgate-Palmolive (India) Ltd. (Rs. 1634.55,-0.13%),.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2210 shares traded, 1149 shares advanced, 1000 shares declined while 61 remained unchanged.

Story first published: Friday, September 26, 2014, 10:48 [IST]
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