Sensex regains 29k mark; FY16 GDP seen over 8% Analysis for Feb 27, 2015

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The key domestic benchmark indices inched up during the noon trading session after the pre-Budget Economic Survey tabled by Finance Minister Arun Jaitley in Parliament showed that Indian"s economy is likely to grow above 8 per cent in 2015-16. The 30-share benchmark index was up by 350 points, regaining the physiological 29000 mark, while NSE Nifty also inched up by 94 points, reclaiming its crucial psychological level of 8770. Further, the Economic Survey also said that the government remains committed to fiscal consolidation, adding that it will adhere to fiscal deficit target of 4.1 per cent of GDP in FY15.

At 1:19PM BSE SENSEX was at 29097.37, up by 350.72 points or by 1.22 per cent, while the NSE Nifty was at 8778.6, up by 94.75 points or by 1.09 per cent.

The BSE MIDCAP was at 10764.01, up by 147.73 points or by 1.39 per cent, while the BSE SMLCAP was at 11299.05, up by 135.29 points or by 1.21 per cent.

The BSE Sensex touched an intraday high of 29109.76 and an intraday low of 28837.06, while the NSE Nifty an touched intraday high of 8781.8 and an intraday low of 8717.45.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 86.45,+4.41%), Larsen & Toubro Ltd. (Rs. 1751.70,+4.26%), ICICI Bank Ltd. (Rs. 332.30,+3.41%), Hindalco Industries Ltd. (Rs. 154.70,+3.34%), Sesa Sterlite Ltd. (Rs. 215.20,+3.31%), among others.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 387.70,-2.01%), GAIL (India) Ltd. (Rs. 406.85,-1.20%), Wipro Ltd. (Rs. 653.00,-0.58%), Tata Consultancy Services Ltd. (Rs. 2641.45,-0.56%), among others.

Among the sectors, In BSE, BSE_CGS index was at 17723.55 up by 551.55 points or by 3.21%. Suzlon Energy Ltd. (Rs. 27.10,+5.24%), Bharat Electronics Ltd. (Rs. 3813.75,+4.47%), Larsen & Toubro Ltd. (Rs. 1751.70,+4.26%), Punj Lloyd Ltd. (Rs. 39.00,+4.00%), Alstom India Ltd. (Rs. 679.00,+3.32%),.

On the flip side, In BSE, BSETECk index was at 6371.63 down by 33.14 points or by 0.52%. Idea Cellular Ltd. (Rs. 152.70,-1.39%), MphasiS Ltd. (Rs. 384.80,-0.98%), Sun TV Network Ltd. (Rs. 426.60,-0.91%), Bharti Infratel Ltd. (Rs. 365.05,-0.61%), TV18 Broadcast Ltd. (Rs. 34.15,-0.58%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2864 , shares advanced were 1727 while 1013 shares declined and 124 were unchanged.

Story first published: Friday, February 27, 2015, 13:48 [IST]
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