Markets gain momentum; Sensex surges over 200 points Analysis for Oct 15, 2015

Posted By: Religare
Subscribe to GoodReturns

Mirroring positive cues from the global peers, the key domestic benchmark indices continued to surge during the late noon trading session with auto and metals leading the gains.

At 14:23 hours, the 30-share benchmark index, Sensex was trading at 26990.54, up by 210.88 points or by 0.79 per cent, while the NSE Nifty was at 8173.85 up by 65.95 points or by 0.81 per cent.

Global markets were trading jubilantly after hopes on an interest rate hike by the US Fed faded because of weak economic data.

Further, appreciation in the rupee and data showing continued buying by foreign funds on domestic bourses triggered buying by traders. The rupee was trading 29 paise higher at 64.74 against the dollar in noon deals.

In the bullish trade so-far, Sensex touched an intraday high of 27037.95 and an intraday low of 26836.77, while the NSE Nifty touched an intraday high of 8190.55 and an intraday low of 8129.8.

Top gainers on the D-street included, Tata Motors Ltd. (Rs. 377.75,+7.22%), Tata Steel Ltd. (Rs. 254.20,+2.50%), Maruti Suzuki India Ltd. (Rs. 4352.00,+2.36%), Bharat Heavy Electricals Ltd. (Rs. 210.20,+2.29%), GAIL (India) Ltd. (Rs. 323.60,+2.23%), among others.

However, some selling pressure was witnessed in stocks including Hindustan Unilever Ltd. (Rs. 785.70,-1.47%), Wipro Ltd. (Rs. 576.45,-1.06%), Cipla Ltd. (Rs. 671.25,-1.03%), Hindalco Industries Ltd. (Rs. 87.80,-1.01%), Mahindra & Mahindra Ltd. (Rs. 1273.55,-0.96%), among others.

Among the sectors, auto and metal stocks were on the buyer"s radar, gaining 1.97 per cent and 1.24 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2873 shares traded, 1540 shares advanced, 1161 shares declined while 172 remained unchanged.

On the global front, Asian markets ended the day on a positive note as investors remained optimistic about further China stimulus after Wednesday"s dismal factory-gate deflation data. Meanwhile, European counters were also trading firm with all CAC, DAX and FTSE trading in green with a gain of over one per cent.

Story first published: Thursday, October 15, 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'