Markets extend gains; GAIL, HDFC shares advance

06/12/2016 10:21

The key domestic benchmark indices were trading higher in the morning trading session as investors shrugged-off Italian Prime Minister Matteo Renzi’s resignation following defeat of Italy’s constitutional referendum.

The traders are expected to also keep an eye on RBI policy review which will be announced on Wednesday.

The investors may also react to India Services Purchasing Managers’ Index which slipped into contraction in November — worst slump in nearly three years — as new orders dried up and customers cut spending due to cash shortages, putting pressure on RBI to keep rates low.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26441.96 up by 92.86 points or by 0.35 per cent, while the NSE Nifty was at 8169.65 points, trading higher by 40.9 points or by 0.50 per cent.

The BSE Sensex touched an intraday high of 26490.42 and an intraday low of 26393.99 while the NSE Nifty touched an intraday high of 8174.05 and an intraday low of 8148.5

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 434.50,+1.72 per cent), Housing Development Finance Corporation Ltd. (Rs. 1238.50,+1.64 per cent), Infosys Ltd. (Rs. 975.25,+1.44 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 272.70,+1.28 per cent), Wipro Ltd. (Rs. 461.70,+1.15 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 929.15,-0.94 per cent), Hindustan Unilever Ltd. (Rs. 837.95,-0.93 per cent), ITC Ltd. (Rs. 230.45,-0.86 per cent), Axis Bank Ltd. (Rs. 457.95,-0.66 per cent), Tata Steel Ltd. (Rs. 412.60,-0.23 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 1994 shares traded, 1412 shares advanced, 492 shares declined while 90 were unchanged.

On the global front, Asian stocks were trading higher today as investors shrugged-off defeat of Italy’s constitutional referendum and shifted their focus to US monetary policy as stronger-than-expected jobs data boosting the case for the Federal Reserve interest rates hike later this month. US stocks closed higher in the previous trading session on strong economic data, led by financials and technology stocks, with the Dow Jones industrial hitting another record high as investors digested Italian Prime Minister Matteo Renzi’s resignation.

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