The key domestic benchmark indices continued to trade firm during the late noon trading session led by gains in frontline blue chip stocks. Sentiments remained upbeat as investors expects that RBI will cut interest rates in their policy review meet later this week.
At 14:20 hours, the 30-share benchmark index was trading at 28448.89 up by 208.37 points or by 0.74 per cent, while the NSE Nifty was at 8797.05 up by 56.1 points or by 0.64 per cent.
In the bullish trade so-far, Sensex touched intraday high of 28487.28 and intraday low of 28340.39 The NSE Nifty touched intraday high of 8814.1 and intraday low of 8770.2.
Sentiments were also optimistic with Economic Affairs Secretary Shaktikanta Das’ statement expressing confidence that the economy will grow upwards of 7 per cent next fiscal. He reiterated that there will be transient impact of demonetisation on the economy, but it will not spill over to the next fiscal.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 292.00,+3.77%), Sun Pharmaceutical Industries Ltd. (Rs. 668.10,+3.24%), ITC Ltd. (Rs. 278.30,+2.15%), Lupin Ltd. (Rs. 1516.00,+1.70%), Hero MotoCorp Ltd. (Rs. 3270.00,+1.69%), among others.
The top losers of the BSE Sensex pack were Dr. Reddy’s Laboratories Ltd. (Rs. 3094.00,-1.52%), Oil And Natural Gas Corporation Ltd. (Rs. 198.95,-1.00%), Cipla Ltd. (Rs. 603.30,-0.83%), Coal India Ltd. (Rs. 324.25,-0.55%), Power Grid Corporation of India Ltd. (Rs. 200.65,-0.52%), among others.
Among the sectors, Realty index was at 1488.42 up by 36.53 points or by 2.52%. Housing Development & Infrastructure Ltd. (Rs. 71.15,+8.88%), Godrej Industries Ltd. (Rs. 388.15,+3.89%), Prestige Estates Projects Ltd. (Rs. 172.75,+2.98%), Unitech Ltd. (Rs. 5.79,+2.48%), D B Realty Ltd. (Rs. 43.70,+2.46%),.
On the flip side, TECk index was at 5421.4 down by -4.15 points or by -0.08%. PVR Ltd. (Rs. 1254.70,-3.68%), Mahanagar Telephone Nigam Ltd. (Rs. 23.55,-3.29%), Mahindra & Mahindra Ltd. (Rs. 472.00,-1.77%), HCL Technologies Ltd. (Rs. 819.15,-1.24%), Reliance Communications Ltd. (Rs. 36.25,-1.09%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3114 , shares advanced were 1901 while 1059 shares declined and 154 were unchanged.