Sensex soars over 200 pts on Asian rally Analysis for Oct 15, 2015

Posted By: Religare
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Indian equities continued to trade higher in the late morning deals on Thursday supported by continued buying by investors amidst positive cues from other Asian peers.

At 11:12 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26981.55, up by 201.89 points or 0.75 per cent while the NSE Nifty was 8173.45, up by 65.55 points or 0.81 per cent.

Markets saw heavy buying mainly in the auto, public sector undertakings and healthcare sector stocks. Also, weak US retail sales data reinforced hopes of a delay in interest rate hike by the US Federal Reserve, boosting domestic sentiment.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 369.20,+4.80%), GAIL (India) Ltd. (Rs. 324.75,+2.59%), Maruti Suzuki India Ltd. (Rs. 4340.15,+2.08%), Lupin Ltd. (Rs. 2103.00,+1.99%), Hero MotoCorp Ltd. (Rs. 2554.45,+1.94%), among others.

Major show spoilers were Hindustan Unilever Ltd. (Rs. 782.50,-1.87%), Hindalco Industries Ltd. (Rs. 88.00,-0.79%), Wipro Ltd. (Rs. 579.75,-0.50%), Cipla Ltd. (Rs. 675.30,-0.43%), Bharti Airtel Ltd. (Rs. 345.15,-0.40%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2346 shares traded, 1505 advanced while 731 shares declined and 110 remained unchanged.

On the global front, all the Asian markets were trading in the green as traders were hopeful of further China stimulus after Wednesday"s dismal factory-gate deflation data. Further, soft US retail sales data also pushed back bets of policy tightening by the US Federal Reserve, bolstering the lure for equities. US retail sales advanced only 0.1 per cent in August from July when they stood little changed.

Story first published: Thursday, October 15, 2015, 11:48 [IST]
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