Post Session: Sensex, Nifty end higher on sustained capital inflows Analysis for Oct 01, 2015

Posted By: Religare
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The Indian equities extended rally for the third straight session on Thursday on sustained buying by retail and foreign investors as outlook for growth improves in Asia"s third biggest economy amidst robust monetary policy easing. In a major boost to the market, the RBI on Tuesday slashed its key repo rate by 50 basis points to 6.75 per cent, against expectations of a 25 basis points cut. The market, however, trimmed most of early gains after government data showed that Indian manufacturing growth slowed to seven-month low in September.

The 30-share BSE SENSEX closed at 26220.95, up by 66.12 points or by 0.25 per cent and the NSE Nifty ended 2 points higher at t 7950.9.

India"s manufacturing activity expanded at the slowest pace in seven months in September, sliding to 51.2 in September from 52.3 in August, with a reading above 50 signaling expansion, Markit Economics reported on Thursday. In July, the index stood at the highest level in six months at 52.7.

In the bullish trade, the BSE Sensex touched intraday high of 26431.8 and intraday low of 26168.71, while the NSE Nifty touched high and low of 8008.25 and intraday low of 7930.65, respectively.

On the sectoral front, healthcare and consumer durables indices emerged as top gainers, adding 1.46 per cent and 0.89 per cent, respectively.

Leading the rally on BSE Sensex pack were Lupin Ltd. (Rs. 2107.05,+3.62%), Sun Pharmaceutical Industries Ltd. (Rs. 890.75,+2.57%), Tata Consultancy Services Ltd. (Rs. 2639.70,+2.01%), Dr. Reddy's Laboratories Ltd. (Rs. 4230.05,+1.80%), Larsen & Toubro Ltd. (Rs. 1489.30,+1.54%), among others.

Meanwhile, Bharat Heavy Electricals Ltd. (Rs. 199.70,-2.85%), GAIL (India) Ltd. (Rs. 294.25,-2.60%), Maruti Suzuki India Ltd. (Rs. 4579.85,-2.33%), Vedanta Ltd. (Rs. 83.55,-1.82%), Housing Development Finance Corporation Ltd. (Rs. 1195.50,-1.46%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2766, shares advanced were 1380 while 1276 shares declined and 110 were unchanged.

On the global front, the Asian equities ended in positive terrain, with markets in mainland China and Hong Kong were shut due to holidays, but Japan"s Nikkei 225 ended higher even as a quarterly survey of Japan"s big manufacturers showed a slide in confidence in September from June, signaling concerns over the health of the world"s third biggest economy, bolstering the case for further stimulus from the Bank of Japan.

Story first published: Thursday, October 1, 2015, 16:36 [IST]
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