Post Session- Sensex scales past 28K on growth hopes Analysis for Nov 12, 2014

Posted By: Religare
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Dalal Street was in bullish mood today as the Sensex hit a life-time high, conquering the 28,000 mark on sustained foreign investor inflows amid hopes that the Modi government"s reform spree may bolster the country"s economic growth. The government which recently unveiled oil & gas reforms and eased FDI norms in the construction sector may push the insurance bill and Constitutional amendment bill on Goods and Services Tax (GST) during the Winter Session of Parliament beginning November 24. All eyes were on the IIP and CPI data to be released after market hours. Industrial output may have expanded 0.8 per cent in September 2014 from the year ago month, up from an annual 0.4 per cent in August 2014 while consumer inflation may have eased to 5.8 per cent in October 2014 from 6.46 per cent in September 2014.

The BSE SENSEX closed at 28,008.9, up by 98.84 points or by 0.35 per cent, and the NSE Nifty ended at 8,383.3, up by 20.65 points or by 0.25 per cent.

The BSE Sensex touched intraday high of 28,126.48 and intraday low of 27,958.64 The NSE Nifty touched intraday high of 8,415.05 and intraday low of 8,370.5.

Meanwhile, the BSE MIDCAP closed at 10,133.27, up by 47.62 points or by 0.47 per cent, while the BSE SMLCAP ended at 1,1184.35, up by 22.4 points or by 0.2 per cent.

On the Sectoral front, Auto and Banking surged 1.18 per cent and 1.12 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3277, shares advanced were 1594 while 1566 shares declined and 117 were unchanged.

The top gainers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 480.90,+3.02%), Bajaj Auto Ltd. (Rs. 2598.90,+2.10%), Tata Motors Ltd. (Rs. 530.60,+1.71%), ITC Ltd. (Rs. 369.40,+1.55%), Hero MotoCorp Ltd. (Rs. 2967.40,+1.50%), among others.

Story first published: Wednesday, November 12, 2014, 17:00 [IST]
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