Sensex turns choppy; Hindalco, M&M weigh Analysis for Oct 16, 2014

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The key domestic benchmark index, Sensex remained choppy as it swung between the positive and negative terrain in the morning session of trade. The major laggards on the D-street included RIL, ONGC, L&T, M&M and Sesa Sterlite among others. Tracking the momentum, the 50-share Nifty index also managed to bounce back from lows but and was trading flat, near its crucial psychological support level of 7850. On the global front, Asian markets were trading mixed recovering from early lows. However, shares in Japan continue to witness selling pressure. The Nikkei was down nearly 2 per cent while Hang Seng and Straits Times were down 0.5-1 per cent while Shanghai Composite recouped early losses and was up 0.6 per cent.

At 10:18AM BSE SENSEX was at 26363.69, up by 14.36 points or by 0.05 per cent, while the NSE Nifty was at 7862.05, down by 1.95 points or by 0.02 per cent.

The BSE MIDCAP was at 9444.34, down by 28.74 points or by 0.3 per cent, while the BSE SMLCAP was at 10599.03 down by -32.22 points or by 0.3 per cent.

The BSE Sensex touched an intraday high of 26462.08 and an intraday low of 26248.47, while the NSE Nifty touched an intraday high of 7893.9 and an intraday low of 7836.45.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 497.00,+1.80%), Tata Consultancy Services Ltd. (Rs. 2742.00,+1.57%), GAIL (India) Ltd. (Rs. 452.20,+1.03%), Hero MotoCorp Ltd. (Rs. 2880.30,+0.83%), ITC Ltd. (Rs. 349.80,+0.65%), among others.

The top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 147.30,-2.55%), Tata Power Company Ltd. (Rs. 84.75,-2.25%), Mahindra & Mahindra Ltd. (Rs. 1254.00,-1.65%), Sesa Sterlite Ltd. (Rs. 245.65,-1.56%), Oil And Natural Gas Corporation Ltd. (Rs. 395.75,-1.47%), among others.

Among the sectors, In BSE, BSE Realty index was at 1436.51 up by 17.28 points or by 1.22%. DLF Ltd. (Rs. 111.05,+5.81%), Prestige Estates Projects Ltd. (Rs. 226.50,+0.89%), D B Realty Ltd. (Rs. 61.70,+0.82%), Mahindra Lifespace Developers Ltd. (Rs. 539.55,+0.79%), Godrej Industries Ltd. (Rs. 239.00,+0.76%),.

On the flip side, In BSE, BSE_CGS index was at 14159.35 down by -119.14 points or by -0.83%. Pipavav Defence & Offshore Engineering Company Ltd. (Rs. 42.50,-2.97%), Havells India Ltd. (Rs. 262.85,-1.63%), Crompton Greaves Ltd. (Rs. 202.20,-1.61%), Bharat Heavy Electricals Ltd. (Rs. 222.65,-1.37%), Va Tech Wabag Ltd. (Rs. 1639.80,-1.35%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2139 shares traded, 900 shares advanced, 1128 shares declined while 111 remained unchanged.

Story first published: Thursday, October 16, 2014, 10:48 [IST]
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