Post Session- Sensex scripts fresh high on economic revival hopes
18/08/2014 16:29
The key domestic benchmarks began the week on a bullish note as the Sensex surged to a life-time high; advancing for the fifth session on the trot, up by 287 points led by gains in PSU and Oil & Gas stocks.
The surge in Dalal Street came amidst robust buying from overseas investors who are betting big on a recovery in Asia’s third biggest economy amid hopes that the new government may start delivering promised results. Prime Minister Narendra Modi in his Independence Day Speech urged global businesses to make India their manufacturing base while launching a financial inclusion program for poor families. Easing wholesale inflation also boosted sentiment, leaving more room for the RBI to ease interest rates going forward.
Most Asian stocks rose as investors eyed events in Ukraine as Foreign Ministers of Ukraine and Russia held talks in Berlin in a bid to put an end to the conflict. China’s Shanghai Composite rose as a dip in China’s home prices signaled a deeper property slowdown in the world’s second biggest economy, raising hopes that policymakers may add fresh stimulus to spur growth. New home prices in 64 out of the 70 Chinese cities tracked by a government survey fell in July over the previous month as tight mortgage lending rules hindered buying sentiment. Hang Seng ended flat while Japan’s Nikkei 225 posted slim gains.
The BSE SENSEX closed at 26,390.96, up by 287.73 points or by 1.1 per cent and the NSE Nifty ended at 7,874.25, up by 82.55 points or by 1.06 per cent.
The BSE Sensex touched intraday high of 26,413.11 and intraday low of 26,075.28 The NSE Nifty touched intraday high of 7,880.5 and intraday low of 7,779.
Meanwhile, the BSE MIDCAP closed at 9,170.35, up by 162.5 points or by 1.8 per cent, while the BSE SMLCAP ended at 10,047.47 up by 223.41 points or by 2.27 per cent.
On the Sectoral front, PSU and Oil & Gas climbed 2.83 per cent and 2.64 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3157, shares advanced were 1987 while 1056 shares declined and 114 were unchanged.
The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 431.80,+5.33%), Cipla Ltd. (Rs. 469.75,+4.85%), Axis Bank Ltd. (Rs. 393.90,+4.29%), Bharat Heavy Electricals Ltd. (Rs. 221.05,+4.00%), Tata Motors Ltd. (Rs. 503.90,+3.98%), among others.
18/08/2014 16:29
The key domestic benchmarks began the week on a bullish note as the Sensex surged to a life-time high; advancing for the fifth session on the trot, up by 287 points led by gains in PSU and Oil & Gas stocks.
The surge in Dalal Street came amidst robust buying from overseas investors who are betting big on a recovery in Asia’s third biggest economy amid hopes that the new government may start delivering promised results. Prime Minister Narendra Modi in his Independence Day Speech urged global businesses to make India their manufacturing base while launching a financial inclusion program for poor families. Easing wholesale inflation also boosted sentiment, leaving more room for the RBI to ease interest rates going forward.
Most Asian stocks rose as investors eyed events in Ukraine as Foreign Ministers of Ukraine and Russia held talks in Berlin in a bid to put an end to the conflict. China’s Shanghai Composite rose as a dip in China’s home prices signaled a deeper property slowdown in the world’s second biggest economy, raising hopes that policymakers may add fresh stimulus to spur growth. New home prices in 64 out of the 70 Chinese cities tracked by a government survey fell in July over the previous month as tight mortgage lending rules hindered buying sentiment. Hang Seng ended flat while Japan’s Nikkei 225 posted slim gains.
The BSE SENSEX closed at 26,390.96, up by 287.73 points or by 1.1 per cent and the NSE Nifty ended at 7,874.25, up by 82.55 points or by 1.06 per cent.
The BSE Sensex touched intraday high of 26,413.11 and intraday low of 26,075.28 The NSE Nifty touched intraday high of 7,880.5 and intraday low of 7,779.
Meanwhile, the BSE MIDCAP closed at 9,170.35, up by 162.5 points or by 1.8 per cent, while the BSE SMLCAP ended at 10,047.47 up by 223.41 points or by 2.27 per cent.
On the Sectoral front, PSU and Oil & Gas climbed 2.83 per cent and 2.64 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3157, shares advanced were 1987 while 1056 shares declined and 114 were unchanged.
The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 431.80,+5.33%), Cipla Ltd. (Rs. 469.75,+4.85%), Axis Bank Ltd. (Rs. 393.90,+4.29%), Bharat Heavy Electricals Ltd. (Rs. 221.05,+4.00%), Tata Motors Ltd. (Rs. 503.90,+3.98%), among others.
