Indian markets continue to trade higher ignoring July IIP numbers. Sustained buying is being witnessed in IT, auto and tech stocks, while healthcare and power trade lower.
India"s industrial production grew 0.1% during July 2012 following 1.8% contraction in June. The market was expecting industrial production to grow at 0.5%.
At 11.51 a.m., the Sensex was trading up 88.36 points or 0.49% at 17,941.31 with 19 components gaining. Meanwhile, the Nifty was trading higher by 21.35 points or 0.40% at 5,411.35 with 33 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 63.18 points or 0.35% at 17,916.13, while the broad based NSE Nifty started with a rise of 14.45 points or 0.27%, at 5,404.45.
Sensex Movers
Tata Motors contributed rise of 17.6 points in the Sensex. It was followed by Tata Consultancy Services (16.5 points), ICICI Bank (11.7 points), Hindustan Unilever (10.27 points) and Infosys (8.71 points).
However, Hero Motocorp contributed fall of 2.37 points in the Sensex. It was followed by Bharti Airtel (2.16 points), Oil & Natural Gas Corporation (2.03 points), NTPC (1.93 points) and Bharat Heavy Electricals (1.49 points).
Biggest gainers in the 30-share index were Tata Motors (3.17%), Coal India (2.11%), Wipro (1.71%), Tata Consultancy Services (1.70%), Hindustan Unilever (1.48%), and Larsen & Toubro (0.92%).
On the other hand, Jindal Steel & Power (2.80%), Cipla (1.67%), Hero Motocorp (1.10%), Bharat Heavy Electricals (0.72%), NTPC (0.57%), and Bharti Airtel (0.54%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.53% and 0.63% respectively. The major gainers in the BSE Midcap were A B G Shipyard (0.4%), Alok Industries (0.35%), CORE Education and Technologies (0.24%), Alstom India (0.16%) and A I A Engineering (0.11%).The major gainers in the BSE Smallcap were Ahluwalia Contracts (India) (3.31%), Aegis Logistics (2.4%), Advanta India (1.57%), Styrolution ABS (India) (0.76%) and Trident (0.69%).
Sectors in Limelight
The IT index was at 6,100.63, up by 64.61 points or by 1.07%. The major gainers were Hexaware Technologies (1.17%), Mphasis (0.7%), Oracle Financial Services Software (0.63%), HCL Technologies (0.43%) and CORE Education and Technologies (0.24%).
The IPO index was at 1,533.72, up by 14.90 points or by 0.98%. The major gainers were Electrosteel Steels (4.48%), Coal India (2.11%), Commercial Engineers and Body Builders Company (2.04%), Career Point (0.31%) and Bedmutha Industries (0.07%).
The TECk index was at 3,449.11, up by 28.78 points or by 0.84%. The major gainers were Dish TV India (1.05%), Mphasis (0.7%), Oracle Financial Services Software (0.63%), G T L Infrastructure (0.6%) and H C L Technologies (0.43%).
On the other hand, the Power index was at 1,876.37, down by 10.15 points or by 0.54%. The major losers were Reliance Infrastructure (1.3%), Adani Power (1.05%), Bharat Heavy Electricals (0.72%), Crompton Greaves (0.58%) and A B B (0.15%).
Market Breadth
Market breadth was positive with 1,482 advances against 1,047 declines.
Value and Volume Toppers
Siemens topped the value chart on the BSE with a turnover of Rs. 3,606.02 million. It was followed by Glaxo SmithKline Pharmaceuticals (Rs. 494.45 million), United Spirits (Rs. 290.76 million) and Andhra Pradesh Paper Mills (Rs. 246.48 million).
The volume chart was led by Siemens with trades of over 5.32 million shares. It was followed by Cals Refineries (3.19 million), Spicejet (3.00 million) and NOCIL (2.40 million).
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