Post Session- Sensex rallies for third day despite China sell-off Analysis for Jan 19, 2015

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The key domestic benchmarks rallied for the third day on the trot as the Sensex rose by 140 points led by gains in consumer durables and capital goods stocks amid hopes that the surprise decision by the RBI last week to cut interest rates may boost demand for big-ticket consumer goods, and revive capital spending. Wipro rose more than 5 per cent on impressive Q3 earnings numbers. Banks extended an advance amid optimism that lower interest rates may bolster credit growth, boosting margins. However, Chinese markets suffered the biggest sell-off in six years with benchmark Shanghai Composite plunging over 7 per cent as brokerages tumbled after regulators took measures to stem margin trading at three of the country"s major securities firms. Hang Seng ended lower but Japan"s Nikkei 225 advanced higher as a weaker yen boosted the appeal of exporter stocks.

The BSE SENSEX closed at 28,262.01, up by 140.12 points or by 0.5 per cent and then NSE Nifty ended at 8,550.7, up by 36.9 points or by 0.43 per cent.

The BSE Sensex touched intraday high of 28,334.06 and intraday low of 28,197.36. The NSE Nifty touched intraday high of 8,570.95 and intraday low of 8,531.5.Meanwhile, the BSE MIDCAP closed at 10,681.02, up by 47.91 points or by 0.45 per cent, while the BSE SMLCAP ended at 11,399.86 up by 89.93 points or by 0.8 per cent.

Meanwhile, Consumer Durables and Capital Goods advanced 3.35 per cent and 1.17 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3220, shares advanced were 1736 while 1359 shares declined and 125 were unchanged.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 584.45,+5.26%), GAIL (India) Ltd. (Rs. 440.40,+3.73%), Axis Bank Ltd. (Rs. 528.65,+2.67%), Bharat Heavy Electricals Ltd. (Rs. 281.10,+2.57%), Tata Motors Ltd. (Rs. 538.75,+2.50%), among others.

Story first published: Monday, January 19, 2015, 16:12 [IST]
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