The Indian benchmark indices ended higher for the second day on Wednesday, supported by strong rally across Mid and Small cap space, tracking firm cues from Asian peers amid optimism that the US economy is strong enough to withstand a rise in interest rates by the Fed before the end of the year, bolstering risk taking appetite. Further, sharp sell-off in the last few trading sessions offered investors a good bargain buying opportunity in stocks, at existing levels. The market also saw some movement as traders roll over their positions ahead of Thursday’s November derivative contract expiry.
The 30-share benchmark index closed trade at 26051.81, up by 91.03 points or by 0.35 per cent, and the NSE Nifty ended at 8033.3, up by 31 points or by 0.39 per cent.
In the day’s trade, the BSE Sensex touched intraday high of 26130.49 and intraday low of 25877.16, while the NSE Nifty touched intraday high of 8055.2 and intraday low of 7973.1.
Outperforming the benchmark indices, the broader market ended on robust note with the BSE MIDCAP closing at 12042.45, up by 144.93 points or by 1.22 per cent, while the BSE SMLCAP ended at 11805.55, up by 178.75 points or by 1.54 per cent.
The top gainers of the BSE Sensex pack were Lupin Ltd. (Rs. 1487.30,+5.22%), Asian Paints Ltd. (Rs. 942.50,+3.87%), Tata Steel Ltd. (Rs. 392.35,+3.80%), NTPC Ltd. (Rs. 158.25,+2.63%), Larsen & Toubro Ltd. (Rs. 1357.85,+2.16%), among others.
On the flip side, Mahindra & Mahindra Ltd. (Rs. 1193.25,-2.02%), Housing Development Finance Corporation Ltd. (Rs. 1225.95,-1.72%), Power Grid Corporation of India Ltd. (Rs. 181.85,-1.22%), Bharti Airtel Ltd. (Rs. 300.35,-1.22%), HDFC Bank Ltd. (Rs. 1184.90,-1.04%), were among top losers on BSE.
On the sectoral front, realty and metal stocks emerged as top gainers, adding as much as 3.41 per cent and 2.32 per cent respectively.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2909, shares advanced were 2009 while 721 shares declined and 179 were unchanged.
Tag: Housing Development Finance Corporation Ltd
The markets are expected to remain cautious ahead of the industrial output data for April 2016 scheduled to release today which may offer further cues over the health of the country’s economy. In March 2016, India’s industrial output climbed a miniscule 0.1 per cent, year on year.
At 10:25 AM, the Bombay Stock Exchange bellwether Sensex was at 26730.3 down by 33.16 points or by 0.12 per cent, while the NSE Nifty was at 8198.55 points, trading lower by 5.05 points or by 0.06 per cent.
The BSE Sensex touched an intraday high of 26757.17 and an intraday low of 26683.08 while the NSE Nifty touched an intraday high of 8205.3 and an intraday low of 8179.05.
The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 125.60,+3.63 per cent), Lupin Ltd. (Rs. 1445.20,+1.21 per cent), NTPC Ltd. (Rs. 152.15,+1.16 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 204.05,+0.99 per cent), Cipla Ltd. (Rs. 484.00,+0.85 per cent), among others.
Meanwhile, Tata Motors Ltd. (Rs. 462.70,-0.86 per cent), Bharti Airtel Ltd. (Rs. 348.55,-0.67 per cent), ITC Ltd. (Rs. 352.00,-0.66 per cent), Infosys Ltd. (Rs. 1179.15,-0.53 per cent), Housing Development Finance Corporation Ltd. (Rs. 1231.95,-0.52 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1983 shares traded, 1278 shares advanced, 607 shares declined while 98 were unchanged.
On the global front, Asian stocks were trading lower today as investors sought protection in safe-haven assets amid growing concerns over the 23rd June referendum that could see Britain exit the European Union. US stocks closed lower yesterday after three days of gains as crude oil futures pulled back from 10-month highs.