Indian equities has maintained upward move with Sensex holding 19,000 level,breached for first time in nearly 15 months,in anticipation of further reforms. Rupee also trading at 5-month high. Defensive stocks realty and banking gained themost.
At 11.55 a.m., the Sensex was trading up 183.83 points or 0.97% at 19,053.52 with 21 components gaining. Meanwhile, the Nifty was trading higher by 61.10 points or 1.07% at 5,792.35 with 37 components gaining. The government is determined to give a push to reforms, with the Union Cabinet set to consider on Thursday big-ticket measures like opening pension sector to foreign investment and raising FDI cap in insurance sector to 49%.
The 30-share benchmark index, BSE Sensex opened with a gain of 70.06 points or 0.37% at 18,939.75, while the broad based NSE Nifty started with a rise of 20.30 points or 0.35%, at 5,751.55.
Sensex Movers
ICICI Bank contributed rise of 49.11 points in the Sensex. It was followed by HDFC Bank (29.87 points), Housing Development Finance Corporation (25.65 points), Reliance Industries (14.54 points) and Bharat Heavy Electricals (11.5 points).
However, Infosys contributed fall of 9.47 points in the Sensex. It was followed by Tata Consultancy Services (6 points), Mahindra & Mahindra (3.51 points), Hero Motocorp (1.66 points) and Sun Pharmaceutical Industries (0.29 points).
Major gainers in the 30-share index were Bharat Heavy Electricals (4.83%), ICICI Bank (3.34%), Bharti Airtel (2.13%), HDFC Bank (2.12%), GAIL (India) (2.01%), and Dr Reddy"s Laboratories (1.92%).
On the other hand, Cipla (0.81%), Mahindra & Mahindra (0.79%), Hero Motocorp (0.72%), Coal India (0.67%), Tata Consultancy Services (0.65%), and Infosys (0.62%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 0.93% and 0.68% respectively.The major gainers in the BSE Midcap were Alstom India (3.12%), Amtek Auto (1%), ABG Shipyard (0.6%), Allcargo Logistics (0.22%) and Aban Offshore (0.12%).The major gainers in the BSE Smallcap were Styrolution ABS (India) (2.11%), Trident (1.59%), Aarti Industries (1.41%), A2Z Maintenance & Engineering Services (1.31%) and Aanjaneya Lifecare (0.07%).
Sectors in Limelight
The Realty index was at 1,914.13, up by 61.30 points or by 3.31%. The major gainers were Indiabulls Real Estate (6.42%), Housing Development and Infrastructure (4.51%), DLF (3.93%), DB Realty (3.14%) and Godrej Properties (0.91%).
The Bankex index was at 13,387.12, up by 281.07 points or by 2.14%. The major gainers were Federal Bank (3.15%), HDFC Bank (2.12%), Bank Of Baroda (1.5%), Bank Of India (0.71%) and Canara Bank (0.65%).
The Capital Goods index was at 11,236.45, up by 155.59 points or by 1.40%. The major gainers were Bharat Heavy Electricals (4.83%), Alstom India (3.12%), BEML (1.73%), ABB (0.96%) and Bharat Electronics (0.47%).
On the other hand, the IT index was at 5,992.14, down by 32.71 points or by 0.54%. The major losers were Mphasis (3.55%), Hexaware Technologies (3.36%), CORE Education and Technologies (0.38%), Oracle Financial Services Software (0.28%) and HCL Technologies (0.17%).
Market Breadth
Market breadth was positive with 1,646 advances against 981 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 461.86 million. It was followed by Federal Bank (Rs. 382.33 million), Reliance Capital (Rs. 381.57 million) and United Spirits (Rs. 369.42 million).
The volume chart was led by Cals Refineries with trades of over 11.28 million shares. It was followed by IVRCL (4.87 million), Unitech (3.23 million) and Birla Cotsyn (India) (2.86 million).
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