Indian equities are ruling on a buoyant note as the government has decided to go ahead with the notification allowing foreign investment in multi-brand retail, aviation, and broadcast sectors despite prevalent political conflict. Both Sensex and Nifty were trading above 12-month high.
At 11.11 a.m., the Sensex was trading up 301.66 points or 1.64% at 18,650.91 with 29 components gaining. Meanwhile, the Nifty was trading higher by 93.05 points or 1.68% at 5,647.30 with 48 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 61.95 points or 0.34% at 18,411.20, while the broad based NSE Nifty started with a rise of 22.75 points or 0.41%, at 5,577.00.
Sensex Movers
ICICI Bank contributed rise of 45.29 points in the Sensex. It was followed by ITC (35.17 points), Larsen & Toubro (26.28 points), Housing Development Finance Corporation (21.19 points) and Reliance Industries (16.37 points).
However, DLF contributed fall of 1.6 points in the Sensex. It was followed by ACC (2.04 points), Tata Motors (2.24 points), Maruti Suzuki India (2.3 points) and Hero Motocorp (2.39 points).
Biggest gainers in the 30-share index were Bharat Heavy Electricals (3.90%), Mahindra & Mahindra (3.36%), ICICI Bank (3.28%), Sterlite Industries (India) (3.28%), Tata Power Company (2.89%), and Larsen & Toubro (2.69%).
On the other hand, GAIL (India) (0.01%) were the onlyloser in the Sensex pack.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 1.36% and 1.29% respectively.The major gainers in the BSE Midcap were Allcargo Logistics (1.92%), Alstom India (1.23%), Aban Offshore (1.17%), ABG Shipyard (1.04%) and AIA Engineering (0.42%).The major gainers in the BSE Smallcap were Reliance MediaWorks (2.78%), A2Z Maintenance & Engineering Services (2.67%), Trident (2.2%), Action Construction Equipment (1.14%) and Adhunik Metaliks (0.18%).
Sectors in Limelight
The Capital Goods index was at 10,584.18, up by 275.64 points or by 2.67%. The major gainers were Bharat Electronics (2.56%), BEML (2.54%), ABB (1.84%), Alstom India (1.23%) and AIA Engineering (0.42%).
The Power index was at 1,957.85, up by 50.72 points or by 2.66%. The major gainers were Reliance Infrastructure (5.55%), Bharat Heavy Electricals (3.9%), Crompton Greaves (3.61%), Adani Power (3.58%) and ABB (1.84%).
The Bankex index was at 12,812.47, up by 282.15 points or by 2.25%. The major gainers were Canara Bank(4.29%), Bank Of India (2.27%), Bank Of Baroda (2.09%), Federal Bank (1.19%) and HDFC Bank (0.84%).
The Metal index was at 10,474.62, up by 213.05 points or by 2.08%. The major gainers were Hindustan Zinc (2.43%), Hindalco Industries (2.19%), Coal India (1.3%), Jindal Steel & Power (1.15%) and Bhushan Steel (0.19%).
Market Breadth
Market breadth was positive with 1,659 advances against 720 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 462.09 million. It was followed by Reliance Industries (Rs. 237.84 million), Reliance Capital (Rs. 201.45 million) and Pantaloon Retail (India) (Rs. 195.64 million).
The volume chart was led by Lanco Infratech with trades of over 3.02 million shares. It was followed by Kingfisher Airlines (2.58 million), Deccan Chronicle Holdings (2.54 million) and Spicejet (2.05 million).
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