Markets remain steady; Tata Power, LT gains Analysis for Jan 23, 2015

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Markets after coming off from day"s high, continued to trade stable on prevailing bullish sentiment across globe after the European Central Bank (ECB) announced larger than expected measures to stimulate the region"s sagging economy, which in turned bolstered the appeal of all the emerging market assets, including the domestic indices. Further, sustained buying activities after Finance minister assured of continued reforms also buoyed the sentiment at home front. The major gainers on the D-street included Bharti Airtel, Tata Motors, Mahindra and Mahindra, Tata Power, LT and HDFC Bank among others.

At 2:10PM BSE SENSEX was at 29273.45, up by 267.43 points or by 0.92 per cent, while the NSE Nifty was at 8818.95, up by 57.55 points or by 0.66 per cent.

The BSE MIDCAP was at 10709.35, down by 0.89 points or by 0.01 per cent, while the BSE SMLCAP was at 11398.36, down by 51.14 points or by 0.45 per cent.

The BSE Sensex touched intraday high of 29408.73 and intraday low of 29165.56 The NSE Nifty touched intraday high of 8866.4 and intraday low of 8795.4.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 386.45,+4.46%), Tata Motors Ltd. (Rs. 584.15,+3.15%), Tata Power Company Ltd. (Rs. 85.50,+2.89%), Mahindra & Mahindra Ltd. (Rs. 1364.90,+2.69%), Larsen & Toubro Ltd. (Rs. 1705.15,+2.53%), among others.

The top losers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 423.55,-1.69%), Bharat Heavy Electricals Ltd. (Rs. 280.65,-1.08%), Coal India Ltd. (Rs. 393.80,-0.43%), Tata Consultancy Services Ltd. (Rs. 2504.95,-0.31%), ITC Ltd. (Rs. 349.50,-0.24%), among others.

Among the sectors, In BSE, BSE Realty index was at 1680.47 up by 31.81 points or by 1.93%. Indiabulls Real Estate Ltd. (Rs. 76.50,+6.47%), D B Realty Ltd. (Rs. 84.20,+6.11%), DLF Ltd. (Rs. 156.00,+5.02%), Housing Development & Infrastructure Ltd. (Rs. 80.70,+2.74%), Mahindra Lifespace Developers Ltd. (Rs. 499.10,+1.63%),.

On the flip side, In BSE, BSE_PSU index was at 8359.99 down by 2.49 points or by 0.03%. Punjab National Bank (Rs. 207.50,-2.42%), Jammu & Kashmir Bank Ltd. (Rs. 152.85,-2.30%), Corporation Bank (Rs. 72.65,-2.15%), GAIL (India) Ltd. (Rs. 423.55,-1.69%), Container Corporation of India Ltd. (Rs. 1423.00,-1.53%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 3047 shares traded, 1111 shares advanced, 1817 shares declined while 119 remained unchanged.

Story first published: Friday, January 23, 2015, 14:36 [IST]
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