Bullish trend continues; Sensex reclaims 28,000 Analysis for Jul 01, 2015

Posted By: Religare
Subscribe to GoodReturns

The key domestic benchmark indices continued to trade firm during the late noon trading session as sentiments remained upbeat after the output of eight infrastructure sectors expanded 4.4 per cent in May, the highest growth rate in the past six months and a hardening trend in the global market despite Greece"s default.

The 30-share benchmark index was trading up by 233 points led by buying interest in index heavyweights including Cipla, BHEL, Axis Bank, Tata Motors, State Bank of India and Wipro among others. Meanwhile, NSE-Nifty was also trading up by 84 points.

Growth in production in the eight key infrastructure sectors hit a six-month high of 4.4 per cent in May, after two consecutive months of decline, indicating a recovery in industrial activity.

At 2:23PM BSE SENSEX was at 28013.91 up by 233.08 points or by 0.84 per cent, while the NSE Nifty was at 8452.65, up by 84.15 points or by 1.01 per cent.

The BSE MIDCAP was at 10832.32, up by 152.33 points or by 1.43 per cent, while the BSE SMLCAP was at 11241.38, up by 166.03 points or by 1.5 per cent.

The BSE Sensex touched an intraday high of 28033.7 and an intraday low of 27799.91, while the NSE Nifty touched an intraday high of 8453.95 and an intraday low of 8370.15.

The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 634.15,+2.90%), Bharat Heavy Electricals Ltd. (Rs. 254.80,+2.80%), Wipro Ltd. (Rs. 554.75,+1.95%), State Bank of India (Rs. 267.80,+1.90%), Tata Motors Ltd. (Rs. 442.45,+1.82%), among others.

The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 2511.05,-0.52%), ITC Ltd. (Rs. 313.95,-0.35%), Housing Development Finance Corporation Ltd. (Rs. 1293.80,-0.20%), Bajaj Auto Ltd. (Rs. 2531.95,-0.15%), GAIL (India) Ltd. (Rs. 391.65,-0.10%), among others.

Among the sectors, In BSE, BSE Power index was at 2058.41 up by 36.27 points or by 1.79%. GMR Infrastructure Ltd. (Rs. 14.70,+4.93%), Suzlon Energy Ltd. (Rs. 23.05,+3.83%), PTC India Ltd. (Rs. 71.15,+3.57%), Bharat Heavy Electricals Ltd. (Rs. 254.80,+2.80%), Adani Power Ltd. (Rs. 30.05,+2.74%),.

On the flip side, In BSE, BSE_CDS index was at 10816.24 down by 70.62 points or by 0.66%. TTK Prestige Ltd. (Rs. 3850.40,-0.96%), PC Jeweller Ltd. (Rs. 382.45,-0.74%), Titan Company Ltd. (Rs. 364.05,-0.57%), Blue Star Ltd. (Rs. 328.85,-0.41%), Videocon Industries Ltd. (Rs. 155.40,-0.13%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2702 shares traded, 1779 shares advanced, 812 shares declined while 111 remained unchanged.

Story first published: Wednesday, July 1, 2015, 15:00 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'