Mid-Session: Sensex holds 29k level; Axis Bank, Infy up Analysis for Jan 22, 2015

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In line with Asian peers, the Indian benchmarks stayed on firm footing on Thursday as sustained fund inflows from overseas investors amid pre-budget optimism coupled with strong earnings report by Blue Chip Companies lifted market sentiment. Foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore, as per the provisional stock exchange data. The BSE Sensex hits a fresh all-time high of 29000 mark led by gains in metals, pharmaceuticals and capital goods sectors. On the corporate front, shares of Sun Pharmaceutical, Axis Bank, Infosys, Hindustan Unilever, Oil And Natural Gas Corporation, were among notable gainers on BSE. On the global front, all eyes are on the European Central Bank (ECB) which is expected to unveil a 550 billion euro sovereign bond buying program to help stave off the threat of deflation in the 19-member Euro area economy.

At 12:25 PM, BSE SENSEX was at 29013.94 up by 125.08 points or by 0.43 per cent and then NSE Nifty was at 8756 up by 26.5 points or by 0.3 per cent.

Meanwhile, the broader markets, the BSE MIDCAP was at 10722.89 up by 20.65 points or by 0.19 per cent, while the BSE SMLCAP was at 11475.77 up by 52.89 points or by 0.46 per cent.

In the bull-run, the BSE Sensex touched an intraday high of 29060.41 and intraday low of 28941.93 The NSE Nifty touched intraday high of 8772.70 and intraday low of 8734.90 during the day"s trade so far.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of the total 2575 shares traded, 1328 advanced while 1135 shares declined and 112 remained unchanged.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 917.00,+3.49%), Axis Bank Ltd. (Rs. 556.25,+1.71%), Infosys Ltd. (Rs. 2193.30,+1.30%), Hindustan Unilever Ltd. (Rs. 950.50,+1.07%), Oil And Natural Gas Corporation Ltd. (Rs. 349.00,+1.03%), among others.

Meanwhile, Reliance Industries Ltd. (Rs. 887.50,-1.90%), NTPC Ltd. (Rs. 141.65,-1.43%), Tata Steel Ltd. (Rs. 397.95,-1.03%), Hindalco Industries Ltd. (Rs. 142.05,-0.84%), Tata Power Company Ltd. (Rs. 82.70,-0.60%), was among notable loser on BSE.

Among the thirteen sectoral indices on BSE, BSE_HCS index was trading at 15417.88 up by 236.9 points or by 1.56 per cent. Ranbaxy Laboratories Ltd. (Rs. 694.30,+3.51%), Sun Pharmaceutical Industries Ltd. (Rs. 917.00,+3.49%), Torrent Pharmaceuticals Ltd. (Rs. 1145.00,+2.20%), Wockhardt Ltd. (Rs. 1107.15,+1.84%), Glenmark Pharmaceuticals Ltd. (Rs. 747.60,+1.60%), were among the notable gainers on BSE.

Following the BSE_HCS index, BSE_FMCG index was at 8159.88 up by 82.15 points or by 1.02 per cent. United Spirits Ltd. (Rs. 3447.00,+3.30%), United Breweries Ltd. (Rs. 964.00,+3.12%), Colgate-Palmolive (India) Ltd. (Rs. 1928.50,+1.60%), Nestle India Ltd. (Rs. 7142.35,+1.20%), Jubilant Foodworks Ltd. (Rs. 1415.85,+1.20%), were among others.

Story first published: Thursday, January 22, 2015, 13:12 [IST]
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