Indian equities traded higher in the afternoon trade on Mondayled by IT, healthcare and banking stocks. However, FMCG, consumer durables and realty traded lower.
At 12.02 p.m., the Sensex was trading up 83.47 points or 0.45% at 18,765.78 with 24 components gaining. Meanwhile, the Nifty was trading higher by 22.25 points or 0.39% at 5,706.50 with 38 components gaining.
The 30-share benchmark index, BSE Sensex opened with a decline of 26.38 points or 0.14% at 18,655.93, while the broad based NSE Nifty started with a fall of 16.65 points or 0.29%, at 5,667.60.Commenting on the technical outlook, Sameet Chavan, technical analyst, Angel Broking said,''The impact of negatively poised weekly 'Stochastic' oscillator would be seen if indices sustain below 18,535 / 5,633. This may trigger near term pessimism in the market and as a result, Indices may slide towards 18,416 / 5,586 and 18,194 / 5,515, which are 38.2% and 50% Fibonacci Retracement levels of the rise from 17,250 to 19,138 / 5,216 to 5,815. ''On the flip side, the daily 'RSI' oscillator is consistently moving above the 50 mark. This signifies strength in the current intermediate degree trend, which is bullish. A fresh set of buyers would enter the market only if our indices sustain above 18,886 / 5,729. In this scenario, we can expect our indices to move towards 18,973 - 19,138 / 5,757 - 5,816. A move beyond 19,138 / 5,816 would negate the negative implication of the ''Bearish Engulfing'' candlestick pattern and further optimistic targets open up,'' Sameet opined.
Sensex Movers
ICICI Bank contributed rise of 26.68 points in the Sensex. It was followed by Tata Consultancy Services (20.43 points), HDFC Bank (15.48 points), Reliance Industries (15.35 points) and Mahindra & Mahindra (7.18 points).
However, ITC contributed fall of 28.16 points in the Sensex. It was followed by Tata Motors (6.09 points), State Bank Of India (3.85 points), Sterlite Industries (India) (1.92 points) and Hero Motocorp (0.98 points).
Biggest gainers in the 30-share index were Tata Consultancy Services (2.26%), ICICI Bank (1.87%), Dr Reddy's Laboratories (1.58%), Mahindra & Mahindra (1.54%), Tata Power Company (1.48%), and NTPC (1.47%).
On the other hand, ITC (1.53%), Sterlite Industries (India) (1.05%), Tata Motors (1.00%), Jindal Steel & Power (0.81%), State Bank Of India (0.54%), and Hero Motocorp (0.47%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 0.10% and 0.33% respectively.The major gainers in the BSE Midcap were Andhra Bank(1.53%), Anant Raj Industries (0.72%), CORE Education and Technologies (0.32%), Amtek India (0.2%) and Allahabad Bank (0.07%).The major gainers in the BSE Smallcap were Aarti Industries (2.56%), Styrolution ABS (India) (1.87%), Aanjaneya Lifecare (0.8%), A2Z Maintenance & Engineering Services (0.47%) and Reliance MediaWorks (0.33%).
Sectors in Limelight
The Bankex index was at 13,318.68, up by 125.63 points or by 0.95%. The major gainers were ICICI Bank (1.87%), HDFC Bank (1.1%), Federal Bank (1.07%), Canara Bank (1.03%) and Indusind Bank (0.07%).
The IPO index was at 1,678.25, up by 15.59 points or by 0.94%. The major gainers were Birla Pacific Medspa (3.59%), Aanjaneya Lifecare (0.8%), A2Z Maintenance & Engineering Services (0.47%), Claris Lifesciences (0.32%) and Coal India (0.11%).
The IT index was at 5,753.65, up by 53.28 points or by 0.93%. The major gainers were HCL Technologies (0.71%), Mphasis (0.35%), CORE Education and Technologies (0.32%), Tech Mahindra (0.29%) and Infosys (0.28%).
On the other hand, the FMCG index was at 5,854.76, down by 47.21 points or by 0.8%. The major losers were Jubilant FoodWorks (1.9%), ITC (1.53%), Colgate-Palmolive (India) (0.69%), Dabur India (0.46%) and Godrej Consumer Products (0.12%).
Market Breadth
Market breadth was negative with 1,248 advances against 1,211 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 354.30 million. It was followed by Tribhovandas Bhimji Zaveri (Rs. 274.79 million), United Spirits (Rs. 221.41 million) and Tata Consultancy Services (Rs. 178.64 million).
The volume chart was led by Dazzel Confindive with trades of over 2.99 million shares. It was followed by Subex (2.45 million), Firstsource Solutions (1.70 million) and Tribhovandas Bhimji Zaveri (1.40 million).
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