Sensex trims initial gains, still up 50 points Analysis for Jan 21, 2015

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Indian equity benchmarks pared some the morning gains, but managed to trade in the positive terrain during the late morning trading session. The 30-share benchmark index was up by 50 points as gains in index heavyweights including Bharti Airtel, SBIN, Hindustan Unilever and HDFC were capped by the losses in SSLT, Hindalco, Tata Motors, Cipla and ITC among others. Further, Bank Nifty continued its out performance on CLSA"s latest report which said credit-rating action shows early signs of recovery as the upgrade/downgrade ratio based on the three leading agencies reached 1.8x in 2014, the highest in four years. They expect banks' asset quality to improve further in 2015 as stronger economic growth and lower input costs boost corporate profitability.

At 11:20AM BSE SENSEX was at 28835.57, up by 50.9 points or by 0.18 per cent, while the NSE Nifty was at 8701.05, up by 5.45 points or by 0.06 per cent.

The BSE MIDCAP was at 10687.78, down by 40.03 points or by 0.37 per cent, while the BSE SMLCAP was at 11405.68, down by 40.59 points or by 0.35 per cent.

The BSE Sensex touched an intraday high of 28958.1 and an intraday low of 28792.57, while the NSE Nifty touched an intraday high of 8741.85 and an intraday low of 8697.6.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 365.20,+2.87%), State Bank of India (Rs. 326.10,+2.53%), Hindustan Unilever Ltd. (Rs. 911.90,+1.81%), Housing Development Finance Corporation Ltd. (Rs. 1273.00,+1.80%), Maruti Suzuki India Ltd. (Rs. 3657.50,+1.52%), among others.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 197.70,-2.85%), Tata Motors Ltd. (Rs. 547.50,-2.07%), Hindalco Industries Ltd. (Rs. 141.45,-2.04%), Cipla Ltd. (Rs. 645.50,-1.99%), Tata Steel Ltd. (Rs. 395.00,-1.77%), among others.

Among the sectors, In BSE, BSE_CGS index was at 16567.83 up by 104.57 points or by 0.64%. Va Tech Wabag Ltd. (Rs. 1571.00,+1.71%), Siemens Ltd. (Rs. 966.00,+1.19%), Larsen & Toubro Ltd. (Rs. 1645.00,+1.03%), AIA Engineering Ltd. (Rs. 1070.00,+0.78%), Fag Bearings India Ltd. (Rs. 3599.00,+0.77%),.

On the flip side, In BSE, BSE Realty index was at 1633.31 down by -10.07 points or by -0.61%. Indiabulls Real Estate Ltd. (Rs. 68.60,-2.70%), Anant Raj Ltd. (Rs. 45.90,-2.03%), Unitech Ltd. (Rs. 16.55,-1.78%), Housing Development & Infrastructure Ltd. (Rs. 77.55,-1.65%), DLF Ltd. (Rs. 143.30,-1.61%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2656 shares traded, 1116 shares advanced, 1436 shares declined while 104 remained unchanged.

Story first published: Wednesday, January 21, 2015, 12:12 [IST]
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