Nifty reclaims 8,050 on value buying; broader markets support

23/11/2016 14:31

The Indian benchmarks extended day’s gain in final hour of trade, helped by buying across metal and realty space, as sharp sell-off in the last few trading sessions offered investors a good bargain buying opportunity in stocks, at existing levels. The market also saw some movement as traders roll over their positions ahead of Thursday’s November derivative contract expiry.

At 14:20 hours, the 30-share benchmark index was trading at 26052.3, up by 91.52 points or by 0.35 per cent, and the NSE Nifty was at 8029.85, up by 27.55 points or by 0.34 per cent.

In the day’s trade so-far, Sensex touched an intraday high of 26130.49 and intraday low of 25877.16, while the NSE Nifty touched intraday high of 8055.2 and intraday low of 7973.1.

The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1475.00,+4.35%), Asian Paints Ltd. (Rs. 942.00,+3.82%), NTPC Ltd. (Rs. 159.15,+3.21%), Larsen & Toubro Ltd. (Rs. 1370.50,+3.11%), Tata Steel Ltd. (Rs. 389.50,+3.04%), among others.

On the flip side, Mahindra & Mahindra Ltd. (Rs. 1193.50,-2.00%), Housing Development Finance Corporation Ltd. (Rs. 1225.35,-1.77%), Bharti Airtel Ltd. (Rs. 299.50,-1.50%), Power Grid Corporation of India Ltd. (Rs. 181.50,-1.41%), Wipro Ltd. (Rs. 446.00,-0.87%), were among top losers on the BSE.

On the sectoral front, realty and metal stocks emerged as top gainers, adding as much as 2.4 per cent and 2.11 per cent respectively.

The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2721, shares advanced were 1833 while 717 shares declined and 171 were unchanged.

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