Sensex, Nifty firm; Banking stocks support
13/03/2018 13:34

Indian benchmarks continued to trade firm during the noon trading session supported by buying in banking stocks including Bank of India, Oriental Bank of Commerce and Union Bank of India. Fall in inflation and improved industrial output boosted banking stocks.

India’s Industrial activity expanded 7.5 per cent in January, up from 7.1 per cent in December, data showed on Monday. Retail inflation, measured by the consumer price index (CPI), moderated to a four-month low of 4.4 per cent in February. The CPI rise was 5.07 per cent in January. Headline inflation is now lower than the Reserve Bank’s monetary policy committee (MPC)’s forecast of 5.1 per cent for the March quarter.

At 13:30 hours, the 30-share benchmark index was trading at 34007.23 up by 89.29 points or by 0.26 per cent, while the NSE Nifty was at 10455.9 up by 34.5 points or by 0.33 per cent.

In the bullish trade so far, Sensex touched intraday high of 34077.32 and intraday low of 33790.09 The NSE Nifty touched intraday high of 10478.6 and intraday low of 10381.95.

The top gainers of the BSE Sensex pack were State Bank of India (Rs. 260.45,+3.01%), Axis Bank Ltd. (Rs. 530.40,+2.16%), Sun Pharmaceutical Industries Ltd. (Rs. 523.25,+2.11%), ICICI Bank Ltd. (Rs. 306.25,+1.85%), Dr. Reddy's Laboratories Ltd. (Rs. 2179.40,+1.50%), among others.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2901.50,-4.93%), Coal India Ltd. (Rs. 293.50,-1.44%), NTPC Ltd. (Rs. 169.55,-0.85%), Maruti Suzuki India Ltd. (Rs. 8753.95,-0.65%), Kotak Mahindra Bank Ltd. (Rs. 1094.00,-0.60%), among others.

Among the sectors, Realty index was at 2448.5 up by 50.83 points or by 2.12%. Housing Development & Infrastructure Ltd. (Rs. 45.00,+8.70%), Godrej Industries Ltd. (Rs. 768.10,+4.80%), Oberoi Realty Ltd. (Rs. 552.50,+3.93%), Indiabulls Real Estate Ltd. (Rs. 209.20,+2.70%), Unitech Ltd. (Rs. 6.16,+2.16%),.

On the flip side, IT index was at 12393.27 down by -189.12 points or by -1.5%. Tata Consultancy Services Ltd. (Rs. 2901.50,-4.93%), AXISCADES Engineering Technologies Ltd. (Rs. 144.00,-2.51%), MindTree Ltd. (Rs. 800.00,-1.88%), HCL Technologies Ltd. (Rs. 956.95,-1.39%), eClerx Services Ltd. (Rs. 1340.00,-0.82%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2793 , shares advanced were 1794 while 855 shares declined and 144 were unchanged.