Mid-Session: Sensex, Nifty stay on form note; oil & gas stocks rebound Analysis for Feb 25, 2015

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Riding high on budget hopes, the Indian bourses were trading on positive note on Wednesday ahead of the February Future & Option expiry due tomorrow. The key benchmarks, BSE and Nifty, were on upbeat note expecting a big-bang show by finance minister Arun Jaitley in Union Budget 2015, to be tabled on Parliament on Saturday. Even, the broader markets witnessed surge in buying activities with both MIDCAP and SMLCAP up 0.3 per cent each. On the setoral front, oil & gas rebounded for the first time, snapping two-day losing streak after reports of illegal information breach.

At 12:30 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 29192.3 up by 187.64 points or by 0.65 per cent and then NSE Nifty was at 8822.9 up by 60.8 points or by 0.69 per cent.

Even, the broader market was moving above the baseline. The BSE MIDCAP was at 10754.27 up by 29.57 points or by 0.28 per cent, while the BSE SMLCAP was at 11333.64 up by 33.53 points or by 0.3 per cent.

In the bull-run so far, the BSE Sensex touched intraday high of 29269.83 and intraday low of 29115.32, while the NSE Nifty touched intraday high of 8840.65 and intraday low of 8798.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2760, shares advanced were 1374 while 1271 shares declined and 115 were unchanged.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1345.00,+2.73%), Infosys Ltd. (Rs. 2323.00,+1.97%), Mahindra & Mahindra Ltd. (Rs. 1275.35,+1.59%), Oil And Natural Gas Corporation Ltd. (Rs. 320.00,+1.47%), Sesa Sterlite Ltd. (Rs. 214.70,+1.37%), among others.

On the flip side, Tata Steel Ltd. (Rs. 357.00,-2.74%), Sun Pharmaceutical Industries Ltd. (Rs. 897.95,-1.28%), Hindustan Unilever Ltd. (Rs. 906.50,-0.82%), Hero MotoCorp Ltd. (Rs. 2633.00,-0.69%), Dr. Reddy's Laboratories Ltd. (Rs. 3340.00,-0.54%), were among notable losers on BSE.

Among the thirteen sectoral indices on BSE, oil and gas index was trading at 9533.33 up by 91.78 points or by 0.97 per cent. Oil India Ltd. (Rs. 479.05,+1.89%), Hindustan Petroleum Corporation Ltd. (Rs. 617.25,+1.86%), Cairn India Ltd. (Rs. 244.60,+1.70%), Oil And Natural Gas Corporation Ltd. (Rs. 320.00,+1.47%), Bharat Petroleum Corporation Ltd. (Rs. 763.45,+0.87%), were among the notable gainers on BSE.

Following the oil and gas index, BSE Realty index was at 1767.05 up by 15.45 points or by 0.88 per cent. Prestige Estates Projects Ltd. (Rs. 285.00,+3.58%), Mahindra Lifespace Developers Ltd. (Rs. 533.20,+2.63%), Oberoi Realty Ltd. (Rs. 307.20,+2.57%), DLF Ltd. (Rs. 149.00,+1.57%), Omaxe Ltd. (Rs. 129.95,+0.43%), were supporting the rally.

Story first published: Wednesday, February 25, 2015, 13:12 [IST]
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