Mid-Session: Sensex stays on firm foot; IT, Teck stocks up
07/07/2014 12:33
Supported by gains in IT and Teck stocks, the domestic bourses continue to float in positive terrain on Monday. However, the upmove was offset by selling in financials and oil and gas stocks. On the global front, most Asian stocks were subdued edged higher in lack of any development on global front. U.S. market remained closed on Friday after reporting higher-than-expected US jobs data. Back home, the sentiment remained positive as investors are expecting the NDA government to announce big-ticket reforms in upcoming Union Budget to bolster growth in Asia’s third biggest economy.
At 12:30 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26034.12 up by 72.06 points or by 0.28 per cent and the NSE Nifty was at 7766.05 up by 14.45 points or by 0.19 per cent.
In a similar fashion, the broader market was also moving higher above the baseline. The BSE MIDCAP was at 9563.03 up by 17.28 points or by 0.18 per cent, while the BSE SMLCAP was at 10575.21 up by 67.18 points or by 0.64 per cent.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3005, shares advanced were 1626 while 1277 shares declined and 102 were unchanged.
The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 110.25,+2.85%), Dr. Reddy's Laboratories Ltd. (Rs. 2748.75,+2.62%), Infosys Ltd. (Rs. 3322.00,+2.56%), Bharti Airtel Ltd. (Rs. 346.55,+2.38%), Tata Consultancy Services Ltd. (Rs. 2456.75,+1.95%), among others.
On the flip side, HDFC Bank Ltd. (Rs. 846.20,-1.19%), Oil And Natural Gas Corporation Ltd. (Rs. 417.65,-1.01%), GAIL (India) Ltd. (Rs. 459.80,-0.91%), ICICI Bank Ltd. (Rs. 1451.80,-0.73%), Reliance Industries Ltd. (Rs. 1025.65,-0.61%), were among notable losers on BSE.
Among the thirteen sectoral indices on BSE, IT index was leading the gain and was trading higher at 9484.84 up by 173.65 points or by 1.86 per cent. Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), MindTree Ltd. (Rs. 869.50,+1.99%), Persistent Systems Ltd. (Rs. 1116.60,+1.51%), KPIT Technologies Ltd. (Rs. 182.65,+1.22%), were among the notable gainers on BSE.
Following the IT index, BSETECk index was at 5348.25 up by 82.23 points or by 1.56 per cent. Mahanagar Telephone Nigam Ltd. (Rs. 38.55,+5.91%), Finolex Cables Ltd. (Rs. 216.30,+4.02%), Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), HT Media Ltd. (Rs. 126.50,+2.10%), were among the others supporting the market.
07/07/2014 12:33
Supported by gains in IT and Teck stocks, the domestic bourses continue to float in positive terrain on Monday. However, the upmove was offset by selling in financials and oil and gas stocks. On the global front, most Asian stocks were subdued edged higher in lack of any development on global front. U.S. market remained closed on Friday after reporting higher-than-expected US jobs data. Back home, the sentiment remained positive as investors are expecting the NDA government to announce big-ticket reforms in upcoming Union Budget to bolster growth in Asia’s third biggest economy.
At 12:30 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26034.12 up by 72.06 points or by 0.28 per cent and the NSE Nifty was at 7766.05 up by 14.45 points or by 0.19 per cent.
In a similar fashion, the broader market was also moving higher above the baseline. The BSE MIDCAP was at 9563.03 up by 17.28 points or by 0.18 per cent, while the BSE SMLCAP was at 10575.21 up by 67.18 points or by 0.64 per cent.
The market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 3005, shares advanced were 1626 while 1277 shares declined and 102 were unchanged.
The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 110.25,+2.85%), Dr. Reddy's Laboratories Ltd. (Rs. 2748.75,+2.62%), Infosys Ltd. (Rs. 3322.00,+2.56%), Bharti Airtel Ltd. (Rs. 346.55,+2.38%), Tata Consultancy Services Ltd. (Rs. 2456.75,+1.95%), among others.
On the flip side, HDFC Bank Ltd. (Rs. 846.20,-1.19%), Oil And Natural Gas Corporation Ltd. (Rs. 417.65,-1.01%), GAIL (India) Ltd. (Rs. 459.80,-0.91%), ICICI Bank Ltd. (Rs. 1451.80,-0.73%), Reliance Industries Ltd. (Rs. 1025.65,-0.61%), were among notable losers on BSE.
Among the thirteen sectoral indices on BSE, IT index was leading the gain and was trading higher at 9484.84 up by 173.65 points or by 1.86 per cent. Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), MindTree Ltd. (Rs. 869.50,+1.99%), Persistent Systems Ltd. (Rs. 1116.60,+1.51%), KPIT Technologies Ltd. (Rs. 182.65,+1.22%), were among the notable gainers on BSE.
Following the IT index, BSETECk index was at 5348.25 up by 82.23 points or by 1.56 per cent. Mahanagar Telephone Nigam Ltd. (Rs. 38.55,+5.91%), Finolex Cables Ltd. (Rs. 216.30,+4.02%), Infosys Ltd. (Rs. 3317.95,+2.43%), Tata Consultancy Services Ltd. (Rs. 2461.35,+2.14%), HT Media Ltd. (Rs. 126.50,+2.10%), were among the others supporting the market.
