Sensex, Nifty stay on firm footing; OMCs surge on dividend payout

23/03/2017 14:33

The Indian equities continued to trade higher, holding early gains, in final hour of day’s trade on Thursday, tracking firm cues from fellow Asian peers. Shares of oil marketing companies (OMCs) such as Indian Oil Corporation (IOCL), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) were trading higher between 1-2per cent as board of these companies are scheduled to hold meeting to declare interim dividend. Among others, real estate companies were also trading higher as industry experts opined that home buying activity is likely to improve as government announced a slew of sentiment-building measures.

At 14:30 hour, the Bombay Stock Exchange bellwether Sensex was trading at 29262, up by 94.32 points or by 0.32 per cent, and the NSE Nifty was at 9066.95, up by 36.5 points or by 0.4 per cent.

During the day’s trade so far, the BSE Sensex touched an intraday high of 29315.18 and intraday low of 29198.08, while the NSE Nifty touched intraday high of 9076.35 and intraday low of 9048.6.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 473.95,+3.06%), GAIL (India) Ltd. (Rs. 376.20,+1.97%), NTPC Ltd. (Rs. 163.85,+1.96%), Hero MotoCorp Ltd. (Rs. 3373.85,+1.91%), Wipro Ltd. (Rs. 509.65,+1.61%), among others.

On the flip side, Tata Consultancy Services Ltd. (Rs. 2449.80,-1.18%), ITC Ltd. (Rs. 276.75,-1.07%), Hindustan Unilever Ltd. (Rs. 901.00,-0.39%), HDFC Bank Ltd. (Rs. 1428.00,-0.23%), Asian Paints Ltd. (Rs. 1058.50,-0.14%), were among the top losers on BSE.

On the sectoral front, oil&gas and auto stocks were leading the gain, adding as much as 1.16 per cent and 1.02 per cent respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3054, shares advanced were 1742 while 1097 shares declined and 215 were unchanged.

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