Indian equities continue to trade higher on Tuesday led byoil & gas, PSU and capital goods stocks.
At 11.11 a.m., the Sensex was trading up 53.40 points or 0.30% at 18,053.43 with 18 components gaining. Meanwhile, the Nifty was trading higher by 12.50 points or 0.23% at 5,443.50 with 30 components gaining.
Asian stocks are tradinghigher on Wednesday ahead of a US Federal Reserve meeting most economists expect will deliver fresh stimulus to kick start the economy.
The 30-share benchmark index, BSE Sensex opened with a gain of 23.92 points or 0.13% at 18,023.95, while the broad based NSE Nifty began flat with a gain of 4.20 points or 0.08%, at 5,435.20.
Sensex Movers
Reliance Industries contributed rise of 15.99 points in the Sensex. It was followed by ICICI Bank (15.77 points), Larsen & Toubro (11.28 points), Oil & Natural Gas Corporation (9.89 points) and State Bank Of India (7.01 points).
However, Housing Development Finance Corporation contributed fall of 12 points in the Sensex. It was followed by Bharti Airtel (7.16 points), Tata Motors (3.62 points), Mahindra & Mahindra (2.85 points) and Reliance Communications (2.12 points).
Major gainers in the 30-share index were Hero Motocorp (2.25%), GAIL (India) (1.92%), Bharat Heavy Electricals (1.80%), Bajaj Auto (1.58%), Oil & Natural Gas Corporation (1.39%), and Larsen & Toubro (1.24%).
On the other hand, Cipla (2.24%), Bharti Airtel (1.76%), Jindal Steel & Power (1.20%), Housing Development Finance Corporation (0.91%), Sterlite Industries (India) (0.84%), and Tata Power Company (0.68%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.38% and 0.39% respectively. The major gainers in the BSE Midcap were Alok Industries (0.78%), Aban Offshore (0.77%), A B G Shipyard (0.61%), Amara Raja Batteries (0.42%) and Amtek Auto (0.34%).The major gainers in the BSE Smallcap were Aarti Industries (1.76%), A2Z Maintenance & Engineering Services (1.49%), Adhunik Metaliks (1.23%), Aegis Logistics (0.95%) and Reliance MediaWorks (0.62%).
Sectors in Limelight
The Oil & Gas index was at 8,525.47, up by 89.14 points or by 1.06%. The major gainers were G A I L (India) (1.92%), Hindustan Petroleum Corporation (1.72%), Bharat Petroleum Corporation (1.68%), Indian Oil Corporation (1.15%) and Gujarat State Petronet (0.84%).
The PSU index was at 7,137.74, up by 66.29 points or by 0.94%. The major gainers were Bank Of India(0.89%), Andhra Bank (0.71%), Allahabad Bank (0.62%), Bharat Electronics (0.59%) and Bank Of Baroda (0.22%).
The Capital Goods index was at 9,749.16, up by 85.80 points or by 0.89%. The major gainers were Bharat Heavy Electricals (1.8%), Havell"S India (0.77%), Bharat Electronics (0.59%), Lakshmi Machine Works (0.55%) and A B B (0.08%).
On the other hand, the HC index was at 7,662.66, down by 42.68 points or by 0.55%. The major losers were Cipla (2.24%), Biocon (1.17%), Divis Laboratories (1.01%), Cadila Healthcare (0.34%) and Apollo Hospitals Enterprise (0.2%).
Market Breadth
Market breadth was positive with 1,260 advances against 1,026 declines.
Value and Volume Toppers
Oracle Financial Services Software topped the value chart on the BSE with a turnover of Rs. 299.25 million. It was followed by United Spirits (Rs. 290.18 million), State Bank Of India (Rs. 230.36 million) and Jindal Steel & Power (Rs. 121.32 million).
The volume chart was led by TV18 Broadcast with trades of over 2.97 million shares. It was followed by Spicejet (2.79 million), Cals Refineries (2.24 million) and Deccan Chronicle Holdings (1.85 million).
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