Post Session- Sensex out modest gains amid mixed Asian cues 21/08/2014

Post Session- Sensex  out modest gains amid mixed Asian cues
21/08/2014 16:33
The key domestic benchmarks ended with modest gains on Thursday as the Sensex advanced by 45 points as foreign investors boosted buying in blue-chips amid hopes of a revival in Asia’s third biggest economy. Consumer durables and banking stocks led the gains. All eyes are on the Q1 GDP data to be released next week. Mixed cues from Asian stocks weighed on sentiment, trimming gains in the Sensex.

Asian stocks ended mixed after the US Federal Reserve signaled that it may raise interest rates sooner than earlier anticipated if the employment target is met quicker than expected. China’s Shanghai Composite ended lower after HSBC said that China’s manufacturing gauge dropped to 50.3 this month from 51.7 in July, with a reading above 50 signaling expansion, indicating a worsening slowdown in the world’s second biggest economy. Hang Seng closed down while Japan’s Nikkei 225 ended up as a weaker yen boosted the appeal of exporter stocks.

The BSE SENSEX closed at 26,360.11, up by 45.82 points or by 0.17 per cent and the NSE Nifty ended at 7,891.1, up by 15.8 points or by 0.2 per cent.

Post Session- Sensex ends lower on profit booking; HDFC, RIL down

Post Session- Sensex ends lower on profit booking; HDFC, RIL down

Taking some breathe after strong performance in last three trading session, the Indian benchmark indices closed lower on Wednesday on profit-taking by funds and retail investors. The BSE Sensex had breached 24K level and NSE Nifty crossed 7100 level in last trading session after exit polls showed the Bharatiya Janata Party (BJP) and its allies winning a majority in the elections. Markets are hoping that the BJP party, which is considered more growth and investor friendly, may come into power, lifting the outlook for Asia’s third biggest economy. Election results will be declared on May 16.

Most Asian stocks, except Hang Seng, ended lower today as investors booked profit after strong gains in the last two trading session. Hong Kong stocks closed higher after China's central bank called for more mortgage lending by banks. On the flip side, Japan’s Nikkei ended lower on profit-taking. Lower-than-expected performance by JGC Corp further dented market sentiments.

The BSE SENSEX closed at 23815.12 down by 56.11 points or by 0.24 per cent and the NSE Nifty ended flat at 7108.75. During the day’s trading, the BSE Sensex touched intraday high of 23964.67 and intraday low of 23753.36, while the NSE Nifty touched intraday high of 7142.25 and intraday low of 7080.9.

Meanwhile, the BSE MIDCAP closed at 7704.1 up by 85.48 points or by 1.12 per cent, while the BSE SMLCAP was at 7859.03 up by 96.11 points or by 1.24 per cent.

On the Sectoral front, oil&gas and consumer goods declined 0.78 per cent and 0.36 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3147, shares advanced were 1749 while 1251 shares declined and 147 were unchanged.

The top losers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2519.00,-3.51%), Mahindra & Mahindra Ltd. (Rs. 1089.70,-2.91%), Housing Development Finance Corporation Ltd. (Rs. 888.30,-2.01%), HDFC Bank Ltd. (Rs. 775.25,-1.52%), Reliance Industries Ltd. (Rs. 1045.55,-1.49%), among others.

Post Session- Sensex ends higher for second straight day

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