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Sensex up 152 points; Nifty nears 8300

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Dion Global

10 Jan 2017

The key domestic benchmark indices continued to gain during the late noon trading session supported by value-buying in index heavyweights despite weak global cues.

At 14:10 hours, the 30-share benchmark index was trading at 26878.93 up by 152.38 points or by 0.57 per cent, while the NSE Nifty was at 8280.85 up by 44.8 points or by 0.54 per cent.

Sentiments remained optimistic with Finance Minister Arun Jaitley’s statement dismissing the slowdown concerns, that higher tax mop up indicates uptick in economic activity.

The investors awaited Budget 2017, scheduled on February 1.

In the bullish trade so-far, Sensex touched an intraday high of 26914.95 and an intraday low of 26804.1, while the NSE Nifty touched an intraday high of 8289.6 and an intraday low of 8261.

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 293.60,+3.09%), Tata Motors Ltd. (Rs. 513.20,+2.57%), Tata Steel Ltd. (Rs. 429.10,+1.67%), Asian Paints Ltd. (Rs. 924.55,+1.57%), HDFC Bank Ltd. (Rs. 1210.60,+1.31%), among others.

The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 446.05,-1.46%), Housing Development Finance Corporation Ltd. (Rs. 1215.00,-0.59%), Dr. Reddy's Laboratories Ltd. (Rs. 3048.00,-0.59%), Power Grid Corporation of India Ltd. (Rs. 185.35,-0.48%), Cipla Ltd. (Rs. 576.05,-0.13%), among others.

Among the sectors, Metal index was at 10720.35 up by 105.72 points or by 1%. Hindalco Industries Ltd. (Rs. 163.65,+3.61%), National Aluminium Company Ltd. (Rs. 67.60,+3.52%), Tata Steel Ltd. (Rs. 429.25,+1.71%), NMDC Ltd. (Rs. 138.20,+1.47%), Hindustan Zinc Ltd. (Rs. 271.40,+0.85%),.

On the flip side, Realty index was at 1358.02 down by -5.48 points or by -0.4%. Unitech Ltd. (Rs. 4.54,-1.73%), DLF Ltd. (Rs. 124.55,-1.58%), Mahindra Lifespace Developers Ltd. (Rs. 360.00,-1.09%), Indiabulls Real Estate Ltd. (Rs. 80.15,-0.74%), Omaxe Ltd. (Rs. 158.55,-0.47%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2959 , shares advanced were 1654 while 1170 shares declined and 135 were unchanged.

On the global front, Asian peers ended the day on a mixed note, while European counters were also trading mixed,. Caution prevailed ahead of key global events such as Donald Trump's swearing-in as US president later this month.