Post Session: Sensex ends 204 pts higher; Nifty above 8200 Analysis for Oct 16, 2015

Posted By: Religare
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Triggered by the firm global cues, the Indian equities ended higher for the second day on Friday supported by strong gains in the capital goods, bankex, oil & gas, and auto space. The market gained momentum in the last hour of trade after lackluster trade in the early session. The benchmark index Sensex reclaimed its crucial psychological level of 27,000 mark, while Nifty breached 8200 level, led by gains in the State Bank of India, Larsen & Toubro, BPCL, YES Bank and Asian Paints.

The 30-share BSE SENSEX closed at 27214.6, up by 204.46 points or by 0.76 per cent, and the NSE Nifty ended 58.65 points higher at 8238.15.

In the choppy trade, the BSE Sensex touched intraday high of 27239.22 and intraday low of 26917.12, while the NSE Nifty touched day"s high and low of 8246.4 and 8147.65, respectively.

On the sectoral front, capital goods and bankex stocks emerging as top gainers, adding 1.83 per cent and 1.3 per cent, respectively.

Leading the rally on BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1604.60,+2.83%), State Bank of India (Rs. 254.90,+2.39%), Tata Motors Ltd. (Rs. 387.30,+1.73%), Maruti Suzuki India Ltd. (Rs. 4449.90,+1.60%), Dr. Reddy's Laboratories Ltd. (Rs. 4268.95,+1.43%), among others.

Meanwhile, Lupin Ltd. (Rs. 2055.00,-2.11%), Tata Steel Ltd. (Rs. 252.65,-1.04%), Coal India Ltd. (Rs. 338.35,-1.01%), Hindustan Unilever Ltd. (Rs. 784.65,-0.77%), Vedanta Ltd. (Rs. 108.60,-0.41%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3037, shares advanced were 1423 while 1439 shares declined and 175 were unchanged.

On the global front, the Asian equities ended higher for second day with markets in mainland China rallyed on hopes that the government will push reforms of state-owned companies to stem a slowdown in the world"s second biggest economy. Hang Seng also ended higher after upbeat China lending data bolstered sentiment as new yuan loans in September came in at 1.05 trillion yuan, up from the 900 billion yuan estimated by analysts. Japan"s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks.

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