Indian equities ended in the positive terrain amid highvolatility. Markets opened on a positive note and continued to trade higher in the initial trading session. Later profit booking was witnessed in index heavyweights. European indices were however weak and US futures too signaled a low opening.
At the close, the benchmark 30-share index, BSE Sensex added 45.78 pointsor 0.24% at 18,869.69 with 20 components posting rise. Meanwhile, the broad based NSE Nifty went up by 12.45 points or 0.22% at 5,731.25 with 26 components posting rise.Final take on controversial laws i.e., general anti-avoidance rules (GAAR) shall be announced by last week of this month. Also, September quarterly results are awaited now which are likely to start in this month, and shall impact near-to-medium term trend of the market.Among the sectoral indices, Oil & Gas was the top gainer followed by PSU, FMCG and Capital Goods. Auto was the top loser followed by Consumer Durables and IT. Banking was also marginally down due to profit booking. Nidhi Saraswat, senior research analyst, Bonanza Portfolio said,"Nifty is slowly and gradually edging into higher territory. Since last week, intraday movement has been quite rangebound. Despite that Nifty has managed to cross above 5,700 level on closing basis for third consecutive trading day. Volumes too continue to be strong. However, technically, 5,750 is a key resistance level in near term."
Commenting on technical outlook, Saraswat said, "Above 5,750, market can move upto 5,850-5,950 levels in coming sessions. Short positions must be avoided in such an uptrend and investors may also book partial profits at current levels. On the downside, 5690-5640 shall be support levels."
Sensex Movers
Reliance Industries contributed rise of 25.13 points in the Sensex. It was followed by Hindustan Unilever (16.09 points), Tata Consultancy Services (13.27 points), Housing Development Finance Corporation (13.14 points) and Oil & Natural Gas Corporation (8.82 points).
However, ITC contributed fall of 19.63 points in the Sensex. It was followed by Infosys (17.59 points), HDFC Bank (8.75 points), Hero Motocorp (3.79 points) and Tata Motors (2.93 points).
Biggest gainers in the 30-share index were Hindustan Unilever (2.37%), Dr Reddy"s Laboratories (2.21%), Coal India (1.98%), Hindalco Industries (1.55%), Tata Consultancy Services (1.46%), and Reliance Industries (1.40%).
On the other hand, Jindal Steel & Power (4.58%), Hero Motocorp (1.66%), Bajaj Auto (1.56%), Infosys (1.17%), ITC (1.15%), and Tata Power Company (0.76%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.58% and 0.96% respectively. The major gainers in the BSE Midcap were Aban Offshore (6.62%), Alok Industries (3.81%), AIA Engineering (3.29%), ABG Shipyard (1.23%) and Alstom India (0.55%).The major gainers in the BSE Smallcap were Trident (3.86%), ABG Infralogistics (2.29%), Aarti Industries (1.16%), Styrolution ABS (India) (0.74%) and Action Construction Equipment (0.19%).
Sectors in Limelight
The Oil & Gas index was at 8,724.59, up by 85.10 points or by 0.99%. The major gainers were Oil & Natural Gas Corporation (1.19%), GAIL (India) (0.56%), Indian Oil Corporation (0.2%), Gujarat State Petronet (0.19%) and Oil India (0.18%).
The PSU index was at 7,481.78, up by 46.85 points or by 0.63%. The major gainers were BEML (5.33%), Bharat Electronics (0.7%), Allahabad Bank (0.7%), Central Bank Of India (0.5%) and Balmer Lawrie & Company (0.33%).
The HC index was at 7,602.59, up by 41.28 points or by 0.55%. The major gainers were Apollo Hospitals Enterprise (2.66%), Aurobindo Pharma (1.73%), Cadila Healthcare (0.99%), Biocon (0.37%) and Cipla (0.24%).
On the other hand, the Auto index was at 10,443.14, down by 37.82 points or by 0.36%. The major losers were Hero Motocorp (1.66%), Bajaj Auto (1.56%), Exide Industries (1.34%), Cummins India (0.62%) and Bosch (0.6%).
Market Breadth
Market breadth was positive with 1,786 advances against 1,208 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 1,609.33 million. It was followed by State Bank Of India (Rs. 1,098.30 million), Reliance Capital (Rs. 756.35 million) and Lovable Lingerie (Rs. 570.55 million).
The volume chart was led by Cals Refineries with trades of over 14.67 million shares. It was followed by Adinath Bio-Labs (6.22 million), JM Financial (6.21 million) and Spicejet (4.02 million).
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