Mid-Session: Sensex soars over 481 pts on BJP’s win; Nifty above 9,079 mark
14/03/2017 12:36
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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Despite weak cues from fellow Asian peers, Indian equity benchmarks maintained their uptrend during the noon trade on Tuesday on continued buying by investors and foreign fund inflows after the Prime Minister Narendra Modi-led BJP’s huge victory in the UP assembly elections, which gives it room for adding more representatives in the upper house of the Parliament.
At 12:12 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 29,428.18 up by 481.95 points or 1.66 per cent while the NSE Nifty was at 9,079.35 up by 144.8 points or 1.62 per cent.
Besides, traders keenly awaited the wholesale price inflation (WPI) data for February which is scheduled to be released later in the day, and ahead of the outcome of the US Fed meeting this week on interest rate hike, too influenced sentiment at D-Street.
Meanwhile, buying momentum was witnessed mainly in the capital goods and realty sector stocks.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 285.65,+5.58%), Larsen & Toubro Ltd. (Rs. 1552.60,+4.07%), Housing Development Finance Corporation Ltd. (Rs. 1418.85,+3.38%), Asian Paints Ltd. (Rs. 1063.50,+3.26%), Adani Ports & Special Economic Zone Ltd. (Rs. 307.00,+2.54%), among others.
Major show spoilers were Coal India Ltd. (Rs. 298.70,-5.64%), Bharti Airtel Ltd. (Rs. 360.75,-1.11%), Sun Pharmaceutical Industries Ltd. (Rs. 683.10,-0.07%), Lupin Ltd. (Rs. 1445.80,-0.05%), among others.
The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2855 shares traded, 1766 advanced while 918 shares declined and 171 remained unchanged.
On the global front, Asian markets were red ahead of the US Fed meeting on March 14-15 to decide on interest rate hike.
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