Post-Session: Sensex gains 240 points led by capital goods stocks Analysis for Jul 01, 2015

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The Indian benchmarks ended on a positive note led by capital goods shares after May core sector growth signaled a recovery in industrial activity. 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. Further, above normal monsoon and softening global crude oil prices also boosted sentiment. All sectoral indices closed in green, with banking, auto and capital goods ranking among the major gainers.

Meanwhile, Global markets have stabilized after being rattled in the previous session, even as Greece ended up defaulting on its euro 1.55 billion loan ($1.73 billion) to the International Monetary Fund (IMF) on June 30, with creditors rejecting a last-ditch effort to buy more time. The BSE SENSEX closed at 28020.87, up by 240.04 points or by 0.86 per cent and then NSE Nifty closed at 8453.05, up by 84.55 points or by 1.01 per cent.

The BSE MIDCAP closed at 10819.31, up by 139.32 points or by 1.3 per cent while the BSE SMLCAP closed at 11235.68, up by 160.33 points or by 1.45 per cent.

The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 256.95,+3.67 per cent), Axis Bank Ltd. (Rs. 578.75,+3.60 per cent), Cipla Ltd. (Rs. 633.25,+2.75 per cent), Tata Motors Ltd. (Rs. 444.80,+2.36 per cent), State Bank of India (Rs. 267.60,+1.83 per cent), among others.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 1877.70,-0.48 per cent), Bajaj Auto Ltd. (Rs. 2523.60,-0.48 per cent), ITC Ltd. (Rs. 313.75,-0.41 per cent), GAIL (India) Ltd. (Rs. 390.50,-0.40 per cent), Hero MotoCorp Ltd. (Rs. 2516.00,-0.33 per cent), among others.

The top gainers of the NSE Nifty pack were Bank of Baroda (Rs. 150.30,+4.27 per cent), Bharat Heavy Electricals Ltd. (Rs. 257.70,+3.95 per cent), Ambuja Cements Ltd. (Rs. 238.15,+3.59 per cent), Axis Bank Ltd. (Rs. 578.65,+3.52 per cent), Cipla Ltd. (Rs. 634.90,+3.17 per cent), among others.

The top losers of the NSE Nifty pack were Zee Entertainment Enterprises Ltd. (Rs. 363.80,-1.11 per cent), Bajaj Auto Ltd. (Rs. 2526.25,-0.62 per cent), Lupin Ltd. (Rs. 1874.60,-0.61 per cent), GAIL (India) Ltd. (Rs. 390.15,-0.52 per cent), ITC Ltd. (Rs. 313.60,-0.49 per cent), among others.

Among the thirteen sectoral indices, capital goods index was leading the rise and closed at 17814.72, up by 296.82 points or by 1.69 per cent led by Suzlon Energy Ltd. (Rs. 23.10,+4.05 per cent), Bharat Heavy Electricals Ltd. (Rs. 256.95,+3.67 per cent), IL&FS Transportation Networks Ltd. (Rs. 146.30,+3.21 per cent), Sadbhav Engineering Ltd. (Rs. 300.35,+3.16 per cent), Texmaco Rail & Engineering Ltd. (Rs. 127.45,+2.87 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2840, shares advanced were 1859 while 872 shares declined and 109 were unchanged.

Story first published: Wednesday, July 1, 2015, 16:48 [IST]
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