Markets remain rangebound; Bank Nifty leads Analysis for Apr 09, 2015

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The key domestic benchmark indices turned choppy during the noon trading session with the Sensex paring all the early gains. The 30-share benchmark index slipped into the negative terrain amid selling pressure in index heavyweights including Sun Pharma, Gail, Bharti Airtel, Cipla, BHEL, Dr. Reddy and ONGC among others. However, banking stocks remain in jubilant mood aided by the Moody"s outlook upgrade. Rating agency Moody's today upgraded India's credit outlook to positive from stable, saying that the measures taken by the policymakers would enhance economic strength. Banking majors ICICI Bank, HDFC Bank, SBI and Axis Bank rallied 1.5-2.5 percent with the Bank Nifty up 300 points.

At 2:18PM BSE SENSEX was at 28685.74, down by 22.01 points or by 0.08 per cent, while the NSE Nifty was at 8732.1, up by 17.7 points or by 0.2 per cent.

The BSE MIDCAP was at 11011.66, down by 10.51 points or by 0.1 per cent, while the BSE SMLCAP was at 11657.99, up by 22.61 points or by 0.19 per cent.

The BSE Sensex touched an intraday high of 28875.08 and an intraday low of 28622.44, while the NSE Nifty touched an intraday high of 8764.6 and an intraday low of 8682.45.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 345.35,+2.71%), Reliance Industries Ltd. (Rs. 886.20,+2.39%), Axis Bank Ltd. (Rs. 567.95,+2.11%), State Bank of India (Rs. 278.10,+1.64%), ICICI Bank Ltd. (Rs. 319.35,+1.25%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1111.00,-3.41%), GAIL (India) Ltd. (Rs. 395.40,-3.34%), Bharti Airtel Ltd. (Rs. 407.35,-2.84%), Cipla Ltd. (Rs. 718.05,-2.49%), Bharat Heavy Electricals Ltd. (Rs. 232.70,-1.31%), among others.

Among the sectors, In BSE, BSE_Bankex index was at 21492.88 up by 352.11 points or by 1.67%. Punjab National Bank (Rs. 160.00,+4.81%), Kotak Mahindra Bank Ltd. (Rs. 1425.60,+3.80%), Bank of India (Rs. 211.45,+2.57%), IndusInd Bank Ltd. (Rs. 923.15,+2.42%), Bank of Baroda (Rs. 172.75,+2.19%),.

In BSE, BSE Realty index was at 1764.98 down by -26.06 points or by -1.46%. Prestige Estates Projects Ltd. (Rs. 272.15,-2.54%), DLF Ltd. (Rs. 158.50,-2.19%), Indiabulls Real Estate Ltd. (Rs. 70.50,-1.88%), Oberoi Realty Ltd. (Rs. 297.70,-1.83%), Anant Raj Ltd. (Rs. 42.95,-1.72%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2855 shares traded, 1406 shares advanced, 1343 shares declined while 106 were unchanged.

Story first published: Thursday, April 9, 2015, 14:48 [IST]
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