Post Session: Markets extend rally for 7-day on budget hopes; metal, CGS stocks rally Analysis for Feb 19, 2015

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Amidst choppy trade, the key domestic benchmarks ended higher on Thursday for the seventh session on a trot, led by gains in metal mining and power companies as the government completed first auction to sell mines. The market sentiments were boosted by continued euphoria over much anticipated general budget of the newly-elected government. The investors are holding high hopes from the NDA government's budget, due to be presented on February 28, after Modi's party was routed in the Delhi state elections.

The BSE SENSEX closed at 29462.27 up by 142.01 points or by 0.48 per cent and then NSE Nifty ended at 8895.3 up by 26.2 points or by 0.3 per cent.

In the choppy trade today, the BSE Sensex touched an intraday high of 29522.86 and intraday low of 29108.15, while the NSE Nifty touched intraday high of 8913.45 and intraday low of 8794.45 during the day"s trade so far.

Meanwhile, BSE MIDCAP closed at 10832.61 up by 4.2 points or by 0.04 per cent while the BSE SMLCAP settled at 11374.76 up by 10.84 points or by 0.1 per cent above base line.

On the sectoral front, metal and consumer goods stocks gained 3.82 per cent and 1.36 per cent respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3137, shares advanced were 1448 while 1566 shares declined and 123 were unchanged.

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 219.15,+6.95%), Hindalco Industries Ltd. (Rs. 156.25,+3.07%), Tata Power Company Ltd. (Rs. 88.30,+2.56%), Tata Steel Ltd. (Rs. 375.60,+2.29%), Mahindra & Mahindra Ltd. (Rs. 1254.00,+2.28%), among others.

Story first published: Thursday, February 19, 2015, 17:36 [IST]
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