Sensex above 30550; Nifty hits 9500

16/05/2017 14:21

The key domestic benchmark indices continued to gain momentum during the late noon trading session amid buying interest in index heavyweights including Bharti Airtel, TCS, ITC, Maruti and Dr. Reddy among others. Sentiments remained bullish about the prospects of a good monsoon after reports that rains are expected to arrive on the southern Kerala coast on May 30, two days ahead of the schedule.

At 14:22 hours, the 30-share benchmark index was trading at 30556.66 up by 234.54 points or by 0.77 per cent, while the NSE Nifty was at 9502.5 up by 57.1 points or by 0.6 per cent.

Sentiments also got some support with Industry body FICCI’s latest Economic Outlook Survey pegging India’s gross domestic product (GDP) growth at around 7.4 percent for the fiscal year 2017-18. On the economic front, India’s exports grew by 19.77 per cent to $24.63 billion in April on account of robust performance by sectors like petroleum, textiles, engineering goods as well as gems and jewellery. Imports too jumped 49.07 per cent to $37.88 billion last month from $25.4 billion in April 2016.

In the bullish trade so-far, Sensex touched intraday high of 30567.09 and intraday low of 30363.37 The NSE Nifty touched intraday high of 9507.1 and intraday low of 9456.35. The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 374.45,+2.91%), Tata Consultancy Services Ltd. (Rs. 2418.80,+2.30%), ITC Ltd. (Rs. 283.15,+2.09%), Maruti Suzuki India Ltd. (Rs. 6946.00,+1.96%), Dr. Reddy’s Laboratories Ltd. (Rs. 2722.00,+1.71%), among others.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 185.05,-0.99%), Coal India Ltd. (Rs. 275.25,-0.86%), Adani Ports & Special Economic Zone Ltd. (Rs. 352.95,-0.65%), Asian Paints Ltd. (Rs. 1141.00,-0.54%), Mahindra & Mahindra Ltd. (Rs. 1369.60,-0.48%), among others.

Among the sectors, Auto index was at 23591.44 up by 224.37 points or by 0.96%. Bosch Ltd. (Rs. 24775.05,+2.57%), Maruti Suzuki India Ltd. (Rs. 6946.00,+1.96%), Hero MotoCorp Ltd. (Rs. 3574.00,+1.61%), Eicher Motors Ltd. (Rs. 29360.00,+1.46%), Tata Motors Ltd. (Rs. 437.50,+1.31%),.

On the flip side, Metal index was at 11317.37 down by -9.35 points or by -0.08%. Hindustan Zinc Ltd. (Rs. 251.30,-2.08%), Coal India Ltd. (Rs. 275.25,-0.86%), Hindalco Industries Ltd. (Rs. 197.70,-0.35%), NMDC Ltd. (Rs. 128.10,-0.31%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3013 , shares advanced were 1462 while 1333 shares declined and 218 were unchanged.

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