Post Session: Sensex surges 360 pts, Nifty settles over 7,800 on Fed comments Analysis for Nov 19, 2015

Posted By: Religare
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The Indian equities ended higher on Thursday, marking biggest single-day percentage gain in nearly seven weeks, as traders weighed a fairly dovish US Federal Reserve minutes which signaled that while policy tightening may be appropriate in December, most policymakers from the world"s top central bank stressed on a gradual pace of rate hikes. The market witnessed all-round buying by participants, tracking positive trend seen in Asian markets, led by gains in the index heavyweights such as Bajaj Auto, Infosys, HDFC, Hero MotoCorp, Maruti, ICICI Bank and Vedanta.

The 30-share BSE SENSEX closed at 25841.92, up by 359.4 points or by 1.41 per cent, and the NSE Nifty ended 110.95 points higher at 7842.75.

In the bullish trade, the BSE Sensex touched an intraday high 25884.52 and intraday low of 25603.1, while the NSE Nifty touched high and low of 7854.9 and 7765.45, respectively.

In line with benchmark indices, the broader market also settled in positive terrain with the BSE MIDCAP closing at 10765.79, up by 128.13 points or by 1.2 per cent, while the BSE SMLCAP ended 145.39 points higher at 11299.34.

On the sectoral front, all the indices ended in green, barring healthcare stocks, with consumer durables and IT space emerging as top gainers, adding 1.93 per cent and 1.84 per cent, respectively.

Leading the rally on the D-Street were Bajaj Auto Ltd. (Rs. 2419.70,+3.16%), Vedanta Ltd. (Rs. 91.70,+2.80%), Housing Development Finance Corporation Ltd. (Rs. 1212.55,+2.78%), Infosys Ltd. (Rs. 1047.30,+2.69%), Maruti Suzuki India Ltd. (Rs. 4652.95,+2.60%), among others.

However, some selling were witnessed in blue chip stocks, such as Dr. Reddy's Laboratories Ltd. (Rs. 3286.80,-2.63%), Sun Pharmaceutical Industries Ltd. (Rs. 742.95,-1.46%), Coal India Ltd. (Rs. 333.75,-0.36%), Axis Bank Ltd. (Rs. 463.00,-0.13%), among others.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3030, shares advanced were 1851 while 975 shares declined and 204 were unchanged.

Among the global peers, Asian stocks ended higher as the Fed sounded fairly dovish in the minutes of its latest meet, regarding the pace of rate hikes. China"s Shanghai Composite and Hang Seng closed over 1 per cent as an upbeat US outlook bolstered the prospects for risker assets. Japan"s Nikkei 225 also settled over 1 per cent as the yen weakened ahead of a Bank of Japan meeting, bolstering the appeal of exporter stocks.

Story first published: Thursday, November 19, 2015, 16:36 [IST]
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