Sensex soars 184 points, Nifty tests 7900 levels Analysis for Nov 26, 2015

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Indian benchmark indices continue to hold on to their gains during the late noon trading session on the back of short-covering by participants on November series expiry in the derivatives contracts.

At 14:21 hours, the 30-share benchmark index, Sensex was trading at 25959.96 up by 184.22 points or by 0.71 per cent, while the NSE Nifty was at 7881.2, up by 49.6 points or by 0.63 per cent.

Sentiments of traders also got some boost after Moody"s said that most Indian companies under its rating scanner would benefit from strong domestic growth and accommodative monetary policy in 2016.

In the bullish trade so-far, Sensex touched an intraday high of 25969.51 and an intraday low of 25769.81, while the NSE Nifty touched an intraday high of 7887.55 and an intraday low of 7832.

Major gainers on the D-street included, Sun Pharmaceutical Industries Ltd. (Rs. 736.45,+4.03%), Tata Motors Ltd. (Rs. 416.80,+3.93%), Coal India Ltd. (Rs. 340.05,+2.32%), Tata Steel Ltd. (Rs. 229.10,+2.12%), Reliance Industries Ltd. (Rs. 985.30,+1.79%), among others.

However, some selling pressure was witnessed in stocks including Dr. Reddy's Laboratories Ltd. (Rs. 3134.00,-7.51%), Lupin Ltd. (Rs. 1843.50,-0.91%), Bajaj Auto Ltd. (Rs. 2467.45,-0.46%), Tata Consultancy Services Ltd. (Rs. 2359.55,-0.45%), Maruti Suzuki India Ltd. (Rs. 4630.00,-0.23%), among others.

Among the sectors, realty and metal were leading the gains, rising 2.39 per cent and 1.6 per cent respectively.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2898 shares traded, 1629 shares advanced, 1051 shares declined while 218 remained unchanged.

On the global front, Asian peers ended the day on a mixed note, while European counters continued to surge with all CAX, DAX and FTSE trading in green.

Story first published: Thursday, November 26, 2015, 14:48 [IST]
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