Post Session: Markets post firm gains: Hindalco, SBI top gainers Analysis for Nov 27, 2015

Posted By: Religare
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The key domestic benchmark indices ended Friday"s trading session in a positive terrain as investors remained optimistic that the constitutional amendment bill on goods and services tax (GST) would be passed during the winter session of parliament that began on Thursday after Prime Minister Narendra Modi invited Congress president Sonia Gandhi and former Prime Minister Manmohan Singh to hold discussions on the GST bill.

Traders are hoping that the ruling NDA will be able to bring opposition parties on the same page with regards to the Goods & Services Tax (GST) bill and get it passed in the Upper House of Parliament, where it remains stuck due to uproar from political parties.

The Bombay Stock Exchange bellwether Sensex closed at 26128.2 up by 169.57 points or by 0.65 per cent, while the NSE Nifty closed at 7942.7 points, trading higher by 58.9 points or by 0.75 per cent as the markets witnessed buying activity in Banking and metal sector stocks

The BSE Sensex touched an intraday high of 26184.65 and an intraday low of 25937.32 while the NSE Nifty touched an intraday high of 7959.3 and an intraday low of 7879.45

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 77.50,+3.26 per cent), State Bank of India (Rs. 249.55,+2.80 per cent), Larsen & Toubro Ltd. (Rs. 1363.80,+2.23 per cent), ICICI Bank Ltd. (Rs. 269.60,+1.97 per cent), Vedanta Ltd. (Rs. 91.85,+1.72 per cent), among others.

Meanwhile, Tata Motors Ltd. (Rs. 417.55,-1.32 per cent), Lupin Ltd. (Rs. 1814.65,-1.24 per cent), Reliance Industries Ltd. (Rs. 979.05,-0.88 per cent), Maruti Suzuki India Ltd. (Rs. 4580.10,-0.68 per cent), Bajaj Auto Ltd. (Rs. 2448.85,-0.55 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 2999 shares traded, 1454 shares advanced, 1309 shares declined while 236 were unchanged.

Globally, the Asian peers closed lower today with Chinese stocks leading the decline in Asian stocks after reports of Chinese authorities' investigations into two major Chinese brokerages over suspected violations sent stocks tumbling in mainland China. The Shanghai Composite ended 5.48 per cent lower. Also, European stocks reversed initial losses triggered by a sharp slide in Chinese stocks.

Story first published: Friday, November 27, 2015, 16:48 [IST]
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