Indian markets gained ground after European market opened on a strong note. Sustained buying activity was seen in banking, metals and oil & gas counter.
At 1.52 p.m., the Sensex was trading up 103.61 points or 0.59% at 17,737.06 with 19 components gaining. Meanwhile, the Nifty was trading higher by 37.45 points or 0.70% at 5,385.35 with 34 components gaining.
European stocks gained,as Bank of Japan minutes showed policy makers are prepared to stimulate the economy, while a report showed German growth slowed less than forecast. U.S. index futures and Asian shares climbed.
The 30-share benchmark index, BSE Sensex opened flat with a decline of 1.81 points or 0.01% at 17,631.64, while the broad based NSE Nifty started with a fall of 4.65 points or 0.09%, at 5,343.25.
Sensex Movers
I C I C I Bank contributed rise of 28.27 points in the Sensex. It was followed by Reliance Industries (22.93 points), Tata Motors (12.3 points), Oil & Natural Gas Corporation (10.03 points) and Tata Steel (8.66 points).
However, Housing Development Finance Corporation contributed fall of 17.68 points in the Sensex. It was followed by Sun Pharmaceutical Industries (7.58 points), Sterlite Industries (India) (1.67 points), Tata Consultancy Services (0.6 points) and Tata Power Company (0.59 points).
Major gainers in the 30-share index were Tata Steel (2.67%), Tata Motors (2.34%), I C I C I Bank (2.15%), Coal India (2.00%), Jindal Steel & Power (1.75%), and Oil & Natural Gas Corporation (1.41%).
On the other hand, Sun Pharmaceutical Industries (2.27%), Housing Development Finance Corporation (1.45%), Bajaj Auto (1.05%), Sterlite Industries (India) (0.83%), Cipla (0.31%), and Tata Power Company (0.30%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 0.41% and 0.33% respectively.The major gainers in the BSE Midcap were A I A Engineering (2.51%), Andhra Bank (1.63%), Aban Offshore (1.15%), Amtek India (0.82%) and CORE Education and Technologies (0.36%).The major gainers in the BSE Smallcap were Adhunik Metaliks (1.55%), Reliance MediaWorks (1.45%), Styrolution ABS (India) (1.39%), Aanjaneya Lifecare (1.27%) and A B G Infralogistics (0.34%).
Sectors in Limelight
The Bankex index was at 12,100.51, up by 162.25 points or by 1.36%. The major gainers were Bank Of India(2.82%), Bank Of Baroda (2.41%), I C I C I Bank (2.15%), Canara Bank (1.61%) and Federal Bank (0.34%).
The Metal index was at 10,679.91, up by 130.84 points or by 1.24%. The major gainers were Coal India (2%), Jindal Steel & Power (1.75%), Hindalco Industries (1.03%), JSW Steel (0.74%) and NMDC (0.62%).
The Oil & Gas index was at 8,453.64, up by 89.63 points or by 1.07%. The major gainers were Oil & Natural Gas Corporation (1.41%), Oil India (1.08%), Petronet LNG (0.96%), Indian Oil Corporation (0.51%) and Cairn India (0.36%).
On the other hand, the HC index was at 7,274.78, down by 33.36 points or by 0.46%. The major losers were Cadila Healthcare (1.88%), Aurobindo Pharma (0.33%), Cipla (0.31%), Biocon (0.17%) and Glenmark Pharmaceutical (0.07%).
Market Breadth
Market breadth was negative with 1,335 advances against 1,274 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 962.12 million. It was followed by United Spirits (Rs. 767.91 million), Tata Steel (Rs. 459.17 million) and Reliance Industries (Rs. 341.05 million).
The volume chart was led by Kingfisher Airlines with trades of over 12.46 million shares. It was followed by Suzlon Energy (5.20 million), Wire and Wireless (India) (4.45 million) and Lanco Infratech (3.57 million).
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