Markets open firm on positive global cues Analysis for Dec 22, 2014

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The key domestic benchmark indices belled positively following positive trend seen in other Asian markets. The 30-share benchmark index was up 55 points led by gains in ITC, HDFC Bank, Sesa Sterlite, ONGC and Reliance Industries among others. Meanwhile, the 50-share Nifty index also managed to reclaim its crucial psychological level of 8250, supported by gains in metals, power, FMCG, capital goods and auto stocks. On the global front, China"s Shanghai Composite rose to the highest level in four years amid a surge in trading volumes while Hang Seng rose but Japan"s Nikkei 225 was little changed. Back home, market sentiment may continue to remain bullish on hopes that the Modi government"s aggressive reform spree may bolster growth in Asia"s third biggest economy. However, some volatility may be seen in the Sensex ahead of the December Futures & Options (F&O) expiry this Thursday, analysts said.

At 9:28AM BSE SENSEX was at 27427.56, up by 55.72 points or by 0.2 per cent, while the NSE Nifty was at 8255 up by 29.8 points or by 0.36 per cent.

The BSE MIDCAP was at 10039.66, up by 39.25 points or by 0.39 per cent, while the BSE SMLCAP was at 10970.2, up by 47.99 points or by 0.44 per cent.

The BSE Sensex touched an intraday high of 27509.59 and an intraday low of 27409.31, while the NSE Nifty touched an intraday high of 8255 and an intraday low of 8255.

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 212.15,+1.87%), Coal India Ltd. (Rs. 382.45,+1.57%), Oil And Natural Gas Corporation Ltd. (Rs. 354.10,+1.37%), ITC Ltd. (Rs. 374.20,+1.27%), GAIL (India) Ltd. (Rs. 439.65,+1.07%), among others.

The top losers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 351.70,-1.04%), Infosys Ltd. (Rs. 1987.25,-0.73%), Tata Motors Ltd. (Rs. 483.10,-0.60%), Tata Consultancy Services Ltd. (Rs. 2496.00,-0.52%), Hindalco Industries Ltd. (Rs. 157.05,-0.38%), among others.

Among the sectors, In BSE, BSE Metal index was at 10732.61 up by 115.28 points or by 1.09%. Jindal Steel & Power Ltd. (Rs. 140.50,+2.55%), NMDC Ltd. (Rs. 143.55,+2.06%), Sesa Sterlite Ltd. (Rs. 212.15,+1.87%), Coal India Ltd. (Rs. 382.45,+1.57%), JSW Steel Ltd. (Rs. 1068.00,+1.04%),.

On the flip side, In BSE, BSETECk index was at 5787.98 down by -20.78 points or by -0.36%. Bharti Infratel Ltd. (Rs. 340.00,-2.72%), Reliance Communications Ltd. (Rs. 81.85,-1.33%), Finolex Cables Ltd. (Rs. 261.95,-1.21%), Zee Entertainment Enterprises Ltd. (Rs. 377.00,-0.78%), Infosys Ltd. (Rs. 1987.25,-0.73%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1418 , shares advanced were 868 while 504 shares declined and 46 were unchanged.

Story first published: Monday, December 22, 2014, 10:00 [IST]
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