Sensex ends in green; banks,tech,metals lead
MUMBAI: Markets ended in the positive terrain as traders picked up stocks near psychological support levels. Losses in oil&gas, FMCG and auto stocks were offset by gains in banks, technology and pharmaceutical stocks.
Indices opened in the red in line with other Asian peers after China's economy grew by 9.8 per cent in the fourth quarter against 9.6 per cent in previous quarter. Back home, food price index rose 15.52 percent and the fuel price index climbed 11.53 percent for the week ended January 8. The annual food and fuel inflation stood at 16.91 percent and 11.53 percent a week ago.
Bombay Stock Exchanges Sensex closed at 19046.54, up 68.22 points or 0.36 per cent. The 30-share index touched a low of 18794.73 and high of 19100.26 intraday.
National Stock Exchanges Nifty ended at 5711.60, up 20.55 points or 0.36 per cent. The broader index touched a low of 5634.50 and high of 5729.45 in todays trade.
Nifty is taking support and forming trading bottom around 200DMA of 5600 levels. As long as the market holds 5600, it is expected to bounce back towards 5835-5900 levels.
Banking stocks look set to bounce back after being beaten down and then others will follow, said Anil Manghnani, technical analyst, Modern Shares & Stock Brokers.
BSE Midcap Index was up 0.14 per cent and BSE Smallcap Index moved up 0.04 per cent.
Amongst the sectoral indices, BSE Bankex moved 1.66 per cent higher. BSE IT Index advanced 1.13 per cent and BSE Metal Index moved 0.21 per cent higher. BSE Oil&gas Index was down 1.50 per cent and BSE FMCG Index slipped 1.19 per cent.
ICICI Bank (2.67%), Jindal Steel (2.33%), HDFC Bank (1.94%), Reliance Communications (1.72%) an! d TCS (1.53) were amongst the top Sensex gainers.
Losers included ITC (-2.16%), ONGC (-2.02%), Bajaj Auto (-1.75%), Reliance Industries (-1.20%) and Bharti Airtel (-1.09%).
Market breadth was negative on the BSE with 1416 losers as compared to 1332 gainers.
Meanwhile, European markets were in the red and the Wall Street is expected to follow suit. At 5:15 pm IST, Dow Jones futures was down 0.21 per cent, S&P 500 moved 0.17 per cent lower and Nasdaq declined 0.13 per cent.
Indices opened in the red in line with other Asian peers after China's economy grew by 9.8 per cent in the fourth quarter against 9.6 per cent in previous quarter. Back home, food price index rose 15.52 percent and the fuel price index climbed 11.53 percent for the week ended January 8. The annual food and fuel inflation stood at 16.91 percent and 11.53 percent a week ago.
Bombay Stock Exchanges Sensex closed at 19046.54, up 68.22 points or 0.36 per cent. The 30-share index touched a low of 18794.73 and high of 19100.26 intraday.
National Stock Exchanges Nifty ended at 5711.60, up 20.55 points or 0.36 per cent. The broader index touched a low of 5634.50 and high of 5729.45 in todays trade.
Nifty is taking support and forming trading bottom around 200DMA of 5600 levels. As long as the market holds 5600, it is expected to bounce back towards 5835-5900 levels.
Banking stocks look set to bounce back after being beaten down and then others will follow, said Anil Manghnani, technical analyst, Modern Shares & Stock Brokers.
BSE Midcap Index was up 0.14 per cent and BSE Smallcap Index moved up 0.04 per cent.
Amongst the sectoral indices, BSE Bankex moved 1.66 per cent higher. BSE IT Index advanced 1.13 per cent and BSE Metal Index moved 0.21 per cent higher. BSE Oil&gas Index was down 1.50 per cent and BSE FMCG Index slipped 1.19 per cent.
ICICI Bank (2.67%), Jindal Steel (2.33%), HDFC Bank (1.94%), Reliance Communications (1.72%) an! d TCS (1.53) were amongst the top Sensex gainers.
Losers included ITC (-2.16%), ONGC (-2.02%), Bajaj Auto (-1.75%), Reliance Industries (-1.20%) and Bharti Airtel (-1.09%).
Market breadth was negative on the BSE with 1416 losers as compared to 1332 gainers.
Meanwhile, European markets were in the red and the Wall Street is expected to follow suit. At 5:15 pm IST, Dow Jones futures was down 0.21 per cent, S&P 500 moved 0.17 per cent lower and Nasdaq declined 0.13 per cent.
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