Mid-Session: Sensex up 160 points; Rate-sensitive stocks gain

29/11/2016 12:28

The key domestic benchmark indices continued to gain momentum during the late noon trading session amid firm buying among rate sensitive sectors like financials, auto and realty.

At 12:20 hours, the 30-share benchmark index was trading at 26509.88 up by 159.71 points or by 0.61 per cent, while the NSE Nifty was at 8183.9 up by 57 points or by 0.7 per cent.

The sentiments remained on upbeat note after the government informed that the Indian economy grew at 7.1 percent in the first six months of the current financial year despite subdued growth in the world economy. The Commerce and Industry Minister Nirmala Sitharaman has said that India has maintained a Gross Domestic Product (GDP) growth rate of 7.1 per cent during April to September of 2016-17 over 7.6 per cent in 2016-16 and 7.2 per cent in 2014-15.

In the bullish trade so-far, Sensex touched an intraday high of 26577.45 and an intraday low of 26357.56, while the NSE Nifty touched an intraday high of 8196.4 and an intraday low of 8128.7.

The top gainers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 5065.00,+3.43%), GAIL (India) Ltd. (Rs. 428.15,+2.58%), Mahindra & Mahindra Ltd. (Rs. 1191.55,+2.38%), Coal India Ltd. (Rs. 311.00,+2.05%), Asian Paints Ltd. (Rs. 956.95,+2.02%), among others.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 230.95,-1.09%), Hindustan Unilever Ltd. (Rs. 831.90,-0.64%), Sun Pharmaceutical Industries Ltd. (Rs. 710.05,-0.53%), Axis Bank Ltd. (Rs. 470.35,-0.52%), NTPC Ltd. (Rs. 163.60,-0.43%), among others.

Among the sectors, Auto index was at 19929.2 up by 414.09 points or by 2.12%. Eicher Motors Ltd. (Rs. 21124.85,+4.44%), Maruti Suzuki India Ltd. (Rs. 5064.60,+3.42%), Ashok Leyland Ltd. (Rs. 80.60,+3.00%), Mahindra & Mahindra Ltd. (Rs. 1192.00,+2.41%), MRF Ltd. (Rs. 48700.00,+2.34%),.

On the flip side, FMCG index was at 8005.26 down by -32.75 points or by -0.41%. Som Distilleries & Breweries Ltd. (Rs. 144.00,-6.04%), Pioneer Distilleries Ltd. (Rs. 202.50,-4.57%), Globus Spirits Ltd. (Rs. 93.60,-2.40%), G M Breweries Ltd. (Rs. 544.20,-1.92%), ITC Ltd. (Rs. 231.00,-1.07%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2591 , shares advanced were 1736 while 691 shares declined and 164 were unchanged.

On the global front, most Asian stocks were trading in red ahead of key global events set to take place this week, including a meeting tomorrow between the world’s largest oil producers and the release of the US nonfarm payroll report on Friday.

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