Markets gain momentum; Axis Bank, Gail top gainers

24/04/2017 14:11

Extending the morning gains, the key domestic benchmark indices continued to gain momentum during the late noon trading session as investors went for optimistic buying ahead of Reliance Industries’ (RIL) quarterly earnings.

Sentiments remained up-beat with Finance Minister Arun Jaitley’s statement that Indian economy will grow at a clip of 7.5 per cent this fiscal, up from 7.1 per cent in the previous year, and it remains resilient with low inflation, fiscal prudence and low deficit.

At 14:10 hours, the 30-share benchmark index was trading at 29650.13 up by 284.83 points or by 0.97 per cent, while the NSE Nifty was at 9214 up by 94.6 points or by 1.04 per cent.

In the positive trade so-far, Sensex touched an intraday high of 29681.33 and an intraday low of 29392.99, while the NSE Nifty touched an intraday high of 9218.55 and an intraday low of 9130.55.

The top gainers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 497.45,+2.40%), GAIL (India) Ltd. (Rs. 409.85,+2.33%), Larsen & Toubro Ltd. (Rs. 1726.65,+2.31%), HDFC Bank Ltd. (Rs. 1531.15,+2.30%), Reliance Industries Ltd. (Rs. 1429.70,+2.14%), among others.

The top losers of the BSE Sensex pack were Lupin Ltd. (Rs. 1364.00,-3.20%), Cipla Ltd. (Rs. 557.00,-1.14%), Wipro Ltd. (Rs. 490.25,-0.60%), Power Grid Corporation of India Ltd. (Rs. 204.50,-0.54%), Infosys Ltd. (Rs. 920.20,-0.38%), among others.

Among the sectors, Realty index was at 1982.37 up by 61.26 points or by 3.19%. Indiabulls Real Estate Ltd. (Rs. 153.40,+7.42%), DLF Ltd. (Rs. 190.20,+4.11%), Godrej Industries Ltd. (Rs. 483.25,+2.98%), Oberoi Realty Ltd. (Rs. 403.80,+2.72%), Housing Development & Infrastructure Ltd. (Rs. 94.15,+2.67%),.

On the flip side, HCS index was at 15078.6 down by -82.5 points or by -0.54%. Biocon Ltd. (Rs. 1057.10,-3.33%), Lupin Ltd. (Rs. 1364.00,-3.20%), Merck Ltd. (Rs. 1104.00,-2.95%), Ajanta Pharma Ltd. (Rs. 1667.65,-2.92%), Unichem Laboratories Ltd. (Rs. 277.05,-2.74%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3098 , shares advanced were 1695 while 1223 shares declined and 180 were unchanged.

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