Bulls continue to dominate D-Street; oil & gas, auto stocks lead

06/03/2017 11:35

Indian equity benchmarks continued to trade higher during late morning deals on Monday led by sustained buying by retail investors and pumping of funds by domestic institutional investors amid mixed cues from fellow Asian peers.

At 11:16 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 29,043.79 up by 211.34 points or 0.73 per cent while the NSE Nifty was at 8,963.05 up by 65.5 points or 0.74 per cent.

Buying momentum was witnessed mainly in the oil & gas and auto sector stocks.

Shares of Reliance Industries rose nearly 3.46 per cent after it said that 15 promoter groups will transfer 118.99 crore shares to 8 other promoter group entities at Rs 1,100.78 per share.

The top gainers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 1302.05,+3.46%), Power Grid Corporation of India Ltd. (Rs. 194.60,+1.94%), NTPC Ltd. (Rs. 158.50,+1.73%), Asian Paints Ltd. (Rs. 1028.85,+1.41%), Tata Motors Ltd. (Rs. 465.65,+1.21%), among others.

Major show spoilers were Sun Pharmaceutical Industries Ltd. (Rs. 678.25,-1.10%), Tata Consultancy Services Ltd. (Rs. 2472.70,-0.79%), Hindustan Unilever Ltd. (Rs. 872.00,-0.59%), Wipro Ltd. (Rs. 490.95,-0.29%), GAIL (India) Ltd. (Rs. 520.00,-0.07%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,712 shares traded, 1,576 advanced while 987 shares declined and 148 remained unchanged.

On the global front, Asian markets were trading mixed after Fed Chair Yellen on Friday signaled that Fed is set to raise interest rates this month if employment and other economic data hold up. Yellen also added that rates are likely to rise faster this year.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s