Mid-Session: Market stays on firm footing; broader market support Analysis for Mar 17, 2015

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The key domestic benchmark indices remained in upbeat mood in afternoon session of the day"s trade in line with Asian peers, helped by gains in the healthcare, metal, auto and FMCG sectors. The US markets, in the overnight trading, closed higher shrugging off concerns about Fed"s interest rate hike. Even, the Asian market ended higher, led by gains in Shanghai Composite, after Chinese premier Li Keqiang said that the government will step up efforts to bolster economic growth. Back home, shares of Tata Motors rise on expectations of a revival in the demand for commercial vehicles. Among others, Hindalco Industries, Sesa Sterlite, Tata Motors, Dr. Reddy's Laboratories and Cipla, were among notable gainers on BSE.

At 12:35 AM BSE SENSEX was at 28616.44 up by 178.73 points or by 0.63 per cent and then NSE Nifty was at 8686.65 up by 53.5 points or by 0.62 per cent.

Even, the broader market were holding its ground with the BSE MIDCAP trading at 10816.69 up by 58.29 points or by 0.54 per cent, while the BSE SMLCAP was at 11169.01 up by 57.19 points or by 0.51 per cent.

Today, the Indian benchmarks kicked-off day on positive note on firm global cues. In the bullish trade so far, the BSE Sensex touched intraday high of 28783.39 and intraday low of 28545.43 The NSE Nifty touched intraday high of 8738.45 and intraday low of 8665.15.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 132.80,+4.65%), Dr. Reddy's Laboratories Ltd. (Rs. 3412.55,+2.98%), Tata Steel Ltd. (Rs. 334.05,+2.41%), Tata Motors Ltd. (Rs. 570.00,+2.19%), Sesa Sterlite Ltd. (Rs. 189.55,+2.18%), among others.

On the flip side Infosys Ltd. (Rs. 2238.35,-1.26%), Bharti Airtel Ltd. (Rs. 384.35,-1.23%), Mahindra & Mahindra Ltd. (Rs. 1211.50,-0.67%), GAIL (India) Ltd. (Rs. 380.05,-0.31%), Wipro Ltd. (Rs. 644.50,-0.29%), were among top losers.

Among the thirteen sectoral indices, healthcare index was top gainer and was trading at 17179.69 up by 285.73 points or by 1.69 per cent. Ipca Laboratories Ltd. (Rs. 765.00,+4.37%), Dr. Reddy's Laboratories Ltd. (Rs. 3412.55,+2.98%), Aurobindo Pharma Ltd. (Rs. 1227.50,+2.75%), Strides Arcolab Ltd. (Rs. 1124.15,+2.73%), Piramal Enterprises Ltd. (Rs. 856.15,+2.50%), were among top gainers.

Following the healthcare index, BSE_CDS index was at 10527.84 up by 126.23 points or by 1.21 per cent. Whirlpool of India Ltd. (Rs. 733.90,+3.87%), TTK Prestige Ltd. (Rs. 3687.95,+2.35%), Titan Company Ltd. (Rs. 403.50,+1.66%), Rajesh Exports Ltd. (Rs. 208.05,+1.31%), Bajaj Electricals Ltd. (Rs. 217.30,+1.26%), were among other supporting the rally.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2713, shares advanced were 1428 while 1166 shares declined and 119 were unchanged.

Story first published: Tuesday, March 17, 2015, 13:12 [IST]
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