The key domestic benchmarks ended higher for the second day on the trot as the Sensex posted modest gains, up by over 60 points driven by gains in oil and gas and consumer durable stocks. However, weak economic data and caution ahead of election results trimmed gains in the Sensex. India’s services activity shrank for a tenth straight month, signaling no end to the slowdown in Asia’s third biggest economy. The HSBC India Services PMI stood at 48.5 in April, HSBC and Markit Economics said in a report on Tuesday. A reading below 50 signals contraction in services over the previous month.
While most Asian markets including Hang Seng and Japan’s Nikkei 225 were closed for holidays, China’s Shanghai Composite ended tad higher amid gains in technology and telecommunications stocks. UBS cut its growth forecast for China’s economy in 2014 to 7.3 per cent from 7.5 per cent estimated earlier, trimming gains in Chinese stocks.
The BSE SENSEX closed at 22,508.42, up by 63.3 points or by 0.28 per cent, and the NSE Nifty ended at 6,715.3 up by 15.95 points or by 0.24 per cent.
The BSE Sensex touched intraday high of 22,602.71 and intraday low of 22,475.65 The NSE Nifty touched intraday high of 6,743.45 and intraday low of 6,701.9.
Meanwhile, the BSE MIDCAP closed at 7,370.69, up by 22.63 points or by 0.31 per cent, while the BSE SMLCAP ended at 7,532.83, up by 34.74 points or by 0.46 per cent.
On the Sectoral front, Consumer Durables and Oil & Gas advanced 3.22 per cent and 1.1 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2973, shares advanced were 1416 while 1407 shares declined and 150 were unchanged.
The top gainers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 963.25,+1.91%), ICICI Bank Ltd. (Rs. 1274.55,+1.63%), Larsen & Toubro Ltd. (Rs. 1299.55,+1.24%), ITC Ltd. (Rs. 347.95,+1.06%), Tata Motors Ltd. (Rs. 418.30,+0.98%), among others
While most Asian markets including Hang Seng and Japan’s Nikkei 225 were closed for holidays, China’s Shanghai Composite ended tad higher amid gains in technology and telecommunications stocks. UBS cut its growth forecast for China’s economy in 2014 to 7.3 per cent from 7.5 per cent estimated earlier, trimming gains in Chinese stocks.
The BSE SENSEX closed at 22,508.42, up by 63.3 points or by 0.28 per cent, and the NSE Nifty ended at 6,715.3 up by 15.95 points or by 0.24 per cent.
The BSE Sensex touched intraday high of 22,602.71 and intraday low of 22,475.65 The NSE Nifty touched intraday high of 6,743.45 and intraday low of 6,701.9.
Meanwhile, the BSE MIDCAP closed at 7,370.69, up by 22.63 points or by 0.31 per cent, while the BSE SMLCAP ended at 7,532.83, up by 34.74 points or by 0.46 per cent.
On the Sectoral front, Consumer Durables and Oil & Gas advanced 3.22 per cent and 1.1 per cent, respectively.
The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2973, shares advanced were 1416 while 1407 shares declined and 150 were unchanged.
The top gainers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 963.25,+1.91%), ICICI Bank Ltd. (Rs. 1274.55,+1.63%), Larsen & Toubro Ltd. (Rs. 1299.55,+1.24%), ITC Ltd. (Rs. 347.95,+1.06%), Tata Motors Ltd. (Rs. 418.30,+0.98%), among others
