Markets remain volatile; Hindalco, ITC shares advance Analysis for Nov 17, 2015

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The key domestic benchmark indices pared early gains and were trading near the flat line as volatility persisted on the bourses during the afternoon trading session on Tuesday amid sell-off in banking stocks and heavyweights like Infosys, Reliance Industries & L&T. Earlier in the day, the markets witnessed increase in buying by funds and retail investors as investors shrugged-off the deadly Paris terrorist attacks which had soured investor sentiments.

At 01:10 PM, the Bombay Stock Exchange bellwether Sensex was at 25789.12 up by 29.02 points or by 0.11 per cent, while the NSE Nifty was at 7803.2 points, trading lower by 3.4 points or by 0.04 per cent.

The BSE Sensex touched an intraday high of 25917.01 and an intraday low of 25732.79 while the NSE Nifty touched an intraday high of 7850.15 and an intraday low of 7793.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 82.35,+4.11 per cent), ITC Ltd. (Rs. 347.45,+2.70 per cent), Vedanta Ltd. (Rs. 91.70,+2.29 per cent), GAIL (India) Ltd. (Rs. 300.00,+1.82 per cent), Cipla Ltd. (Rs. 635.75,+1.53 per cent), among others.

Meanwhile, Infosys Ltd. (Rs. 1056.00,-2.24 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3440.00,-1.73 per cent), Axis Bank Ltd. (Rs. 475.45,-1.28 per cent), Hero MotoCorp Ltd. (Rs. 2582.80,-1.10 per cent), Bharti Airtel Ltd. (Rs. 333.20,-0.80 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2702 shares traded, 1306 shares advanced, 1219 shares declined while 177 were unchanged.

Globally, the Asian peers were trading higher today as a weak yen lifted Japanese shares and higher oil prices boosted the energy sector. Also, US stocks rose overnight, shrugging off concerns that the markets would be affected by the weekend terrorist attacks in Paris.

Story first published: Tuesday, November 17, 2015, 13:36 [IST]
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