Post Session: Sensex, Nifty hit life-highs ahead of Budget 2014; IT, TecK stocks support 07/07/2014

Post Session: Sensex, Nifty hit life-highs ahead of Budget 2014; IT, TecK stocks support
07/07/2014 17:11
Continuing its pre-budget rally, the domestic bourses extended gain on Monday, helped by gains in index heavyweights such as Infosys, Tata Consultancy Services, Tata Motors and Tata Power. Investors continued to bet on hopes that the NDA government will announce big-ticket reforms in upcoming Union Budget to bolster growth in Asia’s third biggest economy.

The BSE SENSEX closed at 26100.08 up by 138.02 points or by 0.53 per cent, and the NSE Nifty ended at 7787.15 up by 35.55 points or by 0.46 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 26123.55 and intraday low of 25992.73, while the NSE Nifty touched intraday high of 7792 and intraday low of 7755.10.

In line with benchmark indices, the BSE MIDCAP closed at 9557.14 up by 11.39 points or by 0.12 per cent, while the BSE SMLCAP ended at 10570.78 up by 62.75 points or by 0.6 per cent.

On the Sectoral front, IT and Teck indices gained 2.63 per cent and 2.16 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3316, shares advanced were 1775 while 1426 shares declined and 115 were unchanged.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 111.05,+3.59%), Infosys Ltd. (Rs. 3343.75,+3.23%), Tata Consultancy Services Ltd. (Rs. 2483.50,+3.06%), Tata Motors Ltd. (Rs. 478.75,+2.20%), Dr. Reddy's Laboratories Ltd. (Rs. 2730.85,+1.95%), among others.

On the flip side, HDFC Bank Ltd. (Rs. 840.05,-1.90%), Oil And Natural Gas Corporation Ltd. (Rs. 415.15,-1.60%), GAIL (India) Ltd. (Rs. 459.00,-1.08%), ICICI Bank Ltd. (Rs. 1450.95,-0.79%), Axis Bank Ltd. (Rs. 1922.45,-0.62%), were among notable losers on BSE.

Post Session: Sensex ends higher; Hindalco, Maruti among top gainers 01/07/2014

Post Session: Sensex ends higher; Hindalco, Maruti among top gainers
01/07/2014 16:39
Continuing the third straight session of positive run, the key domestic benchmark index ended higher led by gains in auto, metals and capital goods sectors. Auto stocks rallied over 3 per cent as the June auto sales data released during the day. Metal shares firmed on the back of encouraging data from China. China's factory growth rose to a six-month high in June on improving domestic and foreign demand, indicating that the economy is witnessing an uptick. However IT stocks witnessed selling pressure because of a weak growth forecast by Gartner. IT research firm Gartner has trimmed its worldwide IT spend growth estimate for 2014 to 2.1 percent, from 3.2 percent earlier. Meanwhile, Asian markets held near three-year highs on Tuesday on upbeat Chinese manufacturing data and expectations that U.S. monetary policy will stay loose for some time, while the dollar was broadly soft.

The BSE SENSEX closed at 25516.35 up by 102.57 points or by 0.4 per cent and the NSE Nifty ended at 7634.7 up by 23.35 points or by 0.31 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 25571.9 and intraday low of 25466.77 The NSE Nifty touched intraday high of 7649.5 and intraday low of 7618.15. Meanwhile, the BSE MIDCAP was at 9433.74 up by 54.79 points or by 0.58 per cent, while the BSE SMLCAP was at 10321.63, up by 118.44 points or by 1.16 per cent.

On the sectoral front, Auto and Metal indices were among the top sectoral gainers up 2-3 per cent, Capital Goods and Realty indices edged up 1 per cent each.

The Market breadth, indicating the overall strength of the market, was postive. On BSE out of total 3292 shares traded, 1971shares advanced, 1202 shares declined while 119 were unchanged.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 175.20,+6.76%), Maruti Suzuki India Ltd. (Rs. 2584.85,+6.01%), Tata Motors Ltd. (Rs. 450.95,+4.59%), Mahindra & Mahindra Ltd. (Rs. 1194.15,+4.03%), Tata Steel Ltd. (Rs. 541.35,+2.47%), among others.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2390.40,-1.20%), Wipro Ltd. (Rs. 538.65,-1.16%), Sun Pharmaceutical Industries Ltd. (Rs. 679.40,-1.00%), Housing Development Finance Corporation Ltd. (Rs. 981.65,-0.91%), Infosys Ltd. (Rs. 3221.75,-0.76%), among others.