Post-Session: Sensex ends higher led by IT stocks Analysis for May 20, 2015

Posted By: Religare
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The Indian benchmarks ended on a positive note supported by a broad based rally led by financials and IT shares on hopes of rate cut by the Reserve Bank of India in the midst of a depredating rupee. BSE IT and BSE Bankex index have surged 1-2 per cent each. However, BSE Metal, Capital Goods, FMCG and Auto indices have dipped 0.1-1 per cent each. IT shares have gained ground as the rupee depreciated against the US dollar due to appreciation of the American currency overseas riding on strong economic data. TCS and Wipro have gained over 1.5 per cent. From the financial space, ICICI Bank, HDFC Bank, SBI and HDFC have gained 1-2 per cent each. The BSE SENSEX closed at 27837.21, up by 191.68 points or by 0.69 per cent and then NSE Nifty closed at 8423.25, up by 57.6 points or by 0.69 per cent.

The BSE MIDCAP closed at 10650.78, down by 0.24 points or by 0 per cent while the BSE SMLCAP closed at 11206.85, up by 19.12 points or by 0.17 per cent.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1267.30,+2.11 per cent), Wipro Ltd. (Rs. 564.10,+2.03 per cent), Tata Consultancy Services Ltd. (Rs. 2557.55,+1.82 per cent), Tata Power Company Ltd. (Rs. 77.20,+1.78 per cent), HDFC Bank Ltd. (Rs. 1023.95,+1.72 per cent), among others.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2150.50,-2.22 per cent), Tata Steel Ltd. (Rs. 361.35,-1.85 per cent), Bharat Heavy Electricals Ltd. (Rs. 231.30,-1.51 per cent), Coal India Ltd. (Rs. 360.05,-1.17 per cent), Hindalco Industries Ltd. (Rs. 138.60,-1.00 per cent), among others.

The top gainers of the NSE Nifty pack were Mahindra & Mahindra Ltd. (Rs. 640.80,+3.48 per cent), HCL Technologies Ltd. (Rs. 960.10,+2.78 per cent), Housing Development Finance Corporation Ltd. (Rs. 1270.05,+2.38 per cent), Wipro Ltd. (Rs. 564.00,+2.06 per cent), UltraTech Cement Ltd. (Rs. 3032.25,+2.05 per cent), among others.

The top losers of the NSE Nifty pack were Bajaj Auto Ltd. (Rs. 2151.35,-2.33 per cent), Cairn India Ltd. (Rs. 197.20,-1.91 per cent), Tata Steel Ltd. (Rs. 361.30,-1.91 per cent), Idea Cellular Ltd. (Rs. 175.90,-1.73 per cent), Bharat Heavy Electricals Ltd. (Rs. 231.15,-1.70 per cent), among others.

Among the thirteen sectoral indices, IT index was leading the rise and closed at 10948.77, up by 190.97 points or by 1.78 per cent. Indian Infotech & Software Ltd. (Rs. 0.43,+7.50 per cent), Infinite Computer Solutions (India) Ltd. (Rs. 270.30,+7.09 per cent), Helios and Matheson Information Technology Ltd. (Rs. 27.45,+4.97 per cent), NIIT Ltd. (Rs. 41.30,+4.69 per cent), Rolta India Ltd. (Rs. 120.05,+4.48 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2811, shares advanced were 1372 while 1293 shares declined and 146 were unchanged.

Story first published: Wednesday, May 20, 2015, 16:24 [IST]
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