Post Session- Sensex snaps 3-day losing streak 11/08/2014

Post Session- Sensex snaps 3-day losing streak
11/08/2014 16:33
The key domestic benchmarks snapped a three-day losing streak as the Sensex rose by nearly 200 points led by gains in auto and realty stocks amid a firm trend in Asian stocks. Asian stocks rose sharply on Monday led by hefty gains in Japanese shares as geopolitical risks abated amid easing tensions between Russia and Ukraine. The Russian defence ministry said that warplanes had finished off drills in the area neighbouring Ukraine.

China’s Shanghai Composite and Hang Seng rose as inflation below target offered room for policymakers to inject fresh stimulus, if required, to spur growth in the world’s second biggest economy. China’s consumer prices rose 2.3 per cent in July 2014 from the same month a year ago, matching the pace set in June, but below the government’s 3.5 per cent target. Japan’s Nikkei 225 surged on strong corporate earnings.

On the domestic front, investors remained confident ahead of the IIP data due tomorrow which may show that industrial output rose for the third month on the trot in June, signaling a recovery in Asia’s third biggest economy.

The BSE SENSEX closed at 25,519.24, up by 190.1 points or by 0.75 per cent and the NSE Nifty ended at 7,625.95, up by 57.4 points or by 0.76 per cent.

The BSE Sensex touched intraday high of 25,553.44 and intraday low of 25,437.05 The NSE Nifty touched intraday high of 7,635.55 and intraday low of 7,598.6.

Meanwhile, the BSE MIDCAP closed at 9,012.05, up by 49.87 points or by 0.56 per cent, while the BSE SMLCAP ended at 9,902.67, up by 74.37 points or by 0.76 per cent.

On the Sectoral front, Auto and Realty climbed 2.65 per cent and 0.96 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3185, shares advanced were 1817 while 1261 shares declined and 107 were unchanged.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1308.40,+6.45%), Tata Motors Ltd. (Rs. 447.40,+3.33%), Housing Development Finance Corporation Ltd. (Rs. 1058.70,+3.16%), Sesa Sterlite Ltd. (Rs. 275.80,+2.72%), Infosys Ltd. (Rs. 3573.25,+2.67%), among others.