Markets continue gaining streak; Nifty up 8400 mark Analysis for Nov 18, 2014

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The key domestic benchmark indices continued to trade firm in the morning trading session amid buying interest in index heavyweights including SSLT, Bharti Airtel, Gail, Tata Steel, NTPC and LT among others. The 30-share benchmark index was up 88 points. Tracking the momentum, the 50-share Nifty index was trading 10 points up at 8441.15. Further, rising speculation of a rate cut by the RBI at its upcoming meet after October wholesale inflation hit a five-year low of 1.77 per cent may continue to boost sentiment. Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 656.37crore on Monday, as per provisional stock exchange data.

At 10:21AM BSE SENSEX was at 28266.67, up by 88.79 points or by 0.32 per cent, while the NSE Nifty was at 8441.15, up by 10.4 points or by 0.12 per cent.

The BSE MIDCAP was at 10313.63, up by 65.93 points or by 0.64 per cent, while the BSE SMLCAP was at 11456.09, up by 118.13 points or by 1.04 per cent.

The BSE Sensex touched an intraday high of 28267.86 and an intraday low of 28177.3, while the NSE Nifty touched an intraday high of 8448.7 and an intraday low of 8422.55.

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 245.45,+3.41%), Bharti Airtel Ltd. (Rs. 402.50,+2.60%), GAIL (India) Ltd. (Rs. 498.45,+1.98%), Tata Steel Ltd. (Rs. 487.60,+1.77%), Hindalco Industries Ltd. (Rs. 159.90,+1.23%), among others.

The top losers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1114.90,-1.06%), Hindustan Unilever Ltd. (Rs. 751.90,-0.52%), Hero MotoCorp Ltd. (Rs. 3012.00,-0.52%), Bajaj Auto Ltd. (Rs. 2644.60,-0.40%), Infosys Ltd. (Rs. 4194.50,-0.34%), among others.

Among the sectors, In BSE, BSE Metal index was at 11533.85 up by 195.29 points or by 1.72%. Steel Authority of India (SAIL) Ltd. (Rs. 88.35,+3.45%), Sesa Sterlite Ltd. (Rs. 245.45,+3.41%), Jindal Steel & Power Ltd. (Rs. 158.20,+2.26%), JSW Steel Ltd. (Rs. 1258.90,+1.86%), Tata Steel Ltd. (Rs. 487.60,+1.77%),.

On the flip side, In BSE, BSE_FMCG index was at 7760.02 down by -8.23 points or by -0.11%. Dabur India Ltd. (Rs. 233.60,-0.87%), Hindustan Unilever Ltd. (Rs. 751.90,-0.52%), Godrej Consumer Products Ltd. (Rs. 983.15,-0.07%), ITC Ltd. (Rs. 369.40,-0.04%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2403 shares traded, 1517 shares advanced, 808 shares declined while 78 remained unchanged.

Story first published: Tuesday, November 18, 2014, 10:48 [IST]
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