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 points).
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 MediaWorks (1.02%).
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 (0.03%).
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
Market breadth was negative with 1,440 advances against 1,413 declines.
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).
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