Bull run continues at D-Street; metal, oil & gas stocks support

23/01/2017 11:45

Shrugging-off mixed cues from fellow Asian peers as traders await the US President Trump’s economic plan details, Indian equity benchmarks extended gains during late morning deals on Monday as buying momentum was witnessed mainly in the metal and oil & gas sector stocks.

At 11:18 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27,130.85 up by 96.35 points or 0.36 per cent while the NSE Nifty was at 8,391.7 up by 42.35 points or 0.51 per cent.

Investors await the earnings reports of index heavyweights such as, Hindustan Unilever, Idea Cellular and Bharti Infratel, to be released later in the day.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 469.00,+1.99%), Oil And Natural Gas Corporation Ltd. (Rs. 200.75,+1.70%), Lupin Ltd. (Rs. 1485.95,+1.65%), Tata Steel Ltd. (Rs. 461.20,+1.45%), Tata Motors Ltd. (Rs. 530.65,+1.43%), among others.

Major show spoilers were ICICI Bank Ltd. (Rs. 257.10,-2.39%), Axis Bank Ltd. (Rs. 446.45,-0.90%), Bharti Airtel Ltd. (Rs. 317.90,-0.87%), Larsen & Toubro Ltd. (Rs. 1408.50,-0.43%), Hindustan Unilever Ltd. (Rs. 858.60,-0.29%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2504 shares traded, 1572 advanced while 780 shares declined and 152 remained unchanged.

On the global front, Asian markets were trading mixed with China’s Shanghai Composite rose nearly 0.26 per cent while Japan’s Nikkei 225 and Hong Kong’s Hang Seng were down nearly 1.20 per cent and 0.02 per cent respectively.

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