Post Session- Sensex rallies for 7th straight session Analysis for Jan 23, 2015

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The key domestic benchmarks closed at a record high, ending in the green for the seventh session on the trot amid sustained inflows from foreign funds after the European Central Bank (ECB) unveiled a 1.1 trillion euro QE program. The Sensex rallied 272 points led by gains in auto and realty stocks amid bets that the interest rate cut may revive demand in the economy. S&P said that it cannot disregard a potential upside to India"s rating, boosting sentiment. The ECB which kept its key benchmark rate at a record low of 0.05 per cent unveiled a bigger than expected asset-purchase program including private and public securities, as it seeks to avert the threat of deflation in the 19-member Euro area economy. The ECB announced monthly asset purchases of up to 60 billion euro through September 2016.

The BSE SENSEX closed at 29,278.84, up by 272.82 points or by 0.94 per cent and then NSE Nifty ended at 8,835.6, up by 74.2 points or by 0.85 per cent.

The BSE Sensex touched intraday high of 29,408.73 and intraday low of 29,165.56 The NSE Nifty touched intraday high of 8,866.4 and intraday low of 8,795.4.

Meanwhile, the BSE MIDCAP closed at 10,695.67, down by 14.57 points or by 0.14 per cent, while the BSE SMLCAP ended at 11,366.09, down by -83.41 points or by 0.73 per cent.

On the Sectoral front, Auto and Realty advanced 1.51 per cent and 1.48 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3205, shares advanced were 1227 while 1863 shares declined and 115 were unchanged.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 88.80,+6.86%), Tata Motors Ltd. (Rs. 587.90,+3.81%), Bharti Airtel Ltd. (Rs. 383.70,+3.72%), Cipla Ltd. (Rs. 674.75,+3.15%), Larsen & Toubro Ltd. (Rs. 1706.05,+2.58%), among others.

Story first published: Friday, January 23, 2015, 17:36 [IST]
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