Sensex ends slightly higher; Capital Goods, IT lead
Published: 22nd November 2012 04:18 PM
Last Updated: 22nd November 2012 04:18 PM
Indian markets ended the range bound session on a flat note with
positive bias on Thursday led by gains seen in IT, capital goods
and technology stocks. At the close, the benchmark 30-share index,
BSE Sensex added 44.50 points or 0.24% at 18,504.88 with 16
components registering rise. Meanwhile, the broad based NSE Nifty
went up by 12.95 points or 0.23% at 5,627.75 with 27 components
registering rise.Renewed buying was seen in select banking stocks
like HDFC bank and SBIN on hopes of Banking Bill being passed in
the Parliament session. European indices were positive too and
boosted the upward sentiment. Market breadth was slightly positive
and volumes were lower than last trading day.
Nidhi Sarswat, senior research analyst, Bonanza Portfolio, said
"Our outlook for coming sessions continue to be that of cautious
optimism and profits may be booked in rallies, until 5750 is
crossed decisively. Indecision or a no trade zone continues within
the range-bound trend of 5625-5750."
"In the coming sessions, market is likely to see further buying
above 5625 level. Support may be seen from 5580-5550 levels and
resistance near 5650-5690. Investorsâ™ shall be
looking for global cues and other post-reforms actions within the
country for further market direction," She said.Sensex Movers
Infosys contributed rise of 21.23 points in the Sensex. It was
followed by I T C (18.58 points), Larsen & Toubro (17.39
points), H D F C Bank (14.4 points) and State Bank Of India (12.52
However, Tata Motors contributed fall of 16.21 points in the
Sensex. It was followed by I C I C I Bank (13.83 points), Reliance
Industries (10.23 points), Housing Development Finance Corporation
(6.02 points) and Tata Consultancy Services (3.54 points).
Biggest gainers in the 30-share index were State Bank Of India
(1.86%), Larsen & Toubro (1.68%), Infosys (1.56%), NTPC
(1.54%), Mahindra & Mahindra (1.38%), and Wipro (1.19%).
On the other hand, Tata Motors (2.71%), I C I C I Bank (0.98%),
Cipla (0.69%), Jindal Steel & Power (0.68%), Reliance
Industries (0.62%), and Sun Pharmaceutical Industries (0.61%) were
the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger
counterparts gaining 0.26% and 0.35% respectively. The major
gainers in the BSE Midcap were A I A Engineering (1.73%), Allahabad
Bank (0.94%), Allcargo Logistics (0.77%), Alstom India (0.65%) and
Aban Offshore (0.33%).The major gainers in the BSE Smallcap were
Styrolution ABS (India) (3.45%), Aanjaneya Lifecare (2.49%),
Advanta India (2.44%), Aarti Industries (1.41%) and Reliance
Sectors in Limelight
The Capital Goods index was at 10,624.91, up by 112.87 points or
by 1.07%. The major gainers were Crompton Greaves (2.02%), A I A
Engineering (1.73%), Alstom India (0.65%), Bharat Electronics
(0.6%) and BEML (0.55%).
The IT index was at 5,730.32, up by 46.71 points or by 0.82%.
The major gainers were H C L Technologies (1.7%), Infosys (1.56%),
Hexaware Technologies (0.99%), Tech Mahindra (0.63%) and Mphasis
On the other hand, the Oil & Gas index was at 7,963.56, down
by 41.57 points or by 0.52%. The major losers were Hindustan
Petroleum Corporation (1.52%), Bharat Petroleum Corporation
(0.79%), Indian Oil Corporation (0.29%), Cairn India (0.21%) and G
A I L (India) (0.16%).
Market breadth was negative with 1,440 advances against 1,413
Value and Volume Toppers
L&T Finance Holdings topped the value chart on the BSE with
a turnover of Rs. 397.08 million. It was followed by I C I C I Bank
(Rs. 248.69 million), Axis Bank (Rs. 242.67 million) and Jaiprakash
Associates (Rs. 218.81 million).
The volume chart was led by L&T Finance Holdings with trades
of over 5.18 million shares. It was followed by Jaiprakash
Associates (2.44 million), Apollo Tyres (1.08 million) and
Mahanagar Telephone Nigam (0.89 million).