Mid-Session: Sensex, Nifty up on selective buying; Infy, TCS up Analysis for Feb 23, 2015

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In the broad-based buying activities, the Indian benchmarks were trading higher in the afternoon session of the day"s trade with capital goods, IT and technology stocks leading the gains. The market sentiments were lifted by surge in buying in index heavyweights such as Infosys, L&T, ICICI Bank, HDFC Bank and Tata Motors. The optimism prevailed in the market with investor"s expecting a market friendly budget and euro zone ministers agreed to extend Greece"s bailout.

At 12:30 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 29296.14 up by 64.73 points or by 0.22 per cent and then NSE Nifty was at 8847.6 up by 14 points or by 0.16 per cent.

Even, the broader market was also moving above baseline. The BSE MIDCAP was at 10884.27 up by 48.09 points or by 0.44 per cent, while the BSE SMLCAP was at 11501.4 up by 75.16 points or by 0.66 per cent.

During the day"s trade so far, the BSE Sensex touched intraday high of 29362.96 and intraday low of 29250.26, while the NSE Nifty touched intraday high of 8869 and intraday low of 8831.95.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2778, shares advanced were 1368 while 1270 shares declined and 140 were unchanged..

The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 222.00,+2.12%), Larsen & Toubro Ltd. (Rs. 1708.70,+1.84%), Tata Consultancy Services Ltd. (Rs. 2713.10,+1.43%), Hindalco Industries Ltd. (Rs. 158.25,+1.18%), Mahindra & Mahindra Ltd. (Rs. 1260.00,+0.89%), among others.

Meanwhile, GAIL (India) Ltd. (Rs. 404.15,-1.19%), Reliance Industries Ltd. (Rs. 866.20,-0.81%), Hero MotoCorp Ltd. (Rs. 2641.20,-0.70%), Hindustan Unilever Ltd. (Rs. 894.00,-0.69%), Bharti Airtel Ltd. (Rs. 347.65,-0.60%), were among notable losers on BSE.

Among the thirteen sectoral indices on BSE, CGS index was trading at 17564.9 up by 216.11 points or by 1.25 per cent. Siemens Ltd. (Rs. 1286.40,+2.19%), Alstom India Ltd. (Rs. 760.25,+2.03%), Larsen & Toubro Ltd. (Rs. 1708.70,+1.84%), AIA Engineering Ltd. (Rs. 1096.35,+1.63%), ABB India Ltd. (Rs. 1428.35,+1.22%), were among the notable gainers on BSE.

Following the CGS index, BSE_IT index was at 11981.9 up by 75.35 points or by 0.63%. MphasiS Ltd. (Rs. 392.60,+3.83%), MindTree Ltd. (Rs. 1463.05,+1.45%), Tata Consultancy Services Ltd. (Rs. 2713.10,+1.43%), Mahindra & Mahindra Ltd. (Rs. 2833.65,+0.94%), Persistent Systems Ltd. (Rs. 1757.00,+0.64%), were supporting the rally.

Following the oil and gas index, BSE_IT index was at 11936.67 down by -119.53 points or by -0.99%. MindTree Ltd. (Rs. 1445.30,-2.22%), HCL Technologies Ltd. (Rs. 2015.50,-1.46%), Infosys Ltd. (Rs. 2295.30,-1.35%), Wipro Ltd. (Rs. 651.30,-1.24%), Mahindra & Mahindra Ltd. (Rs. 2806.15,-0.87%), were dragging the market.

Story first published: Monday, February 23, 2015, 13:00 [IST]
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