Nifty tests 11,630, Sensex over 170 pts; ITC rises by 3%
12/04/2019 14:41

Indian benchmarks extended gains and hit fresh intraday high during the noon trading session led by a rise in information technology (IT), FMCG and Auto stocks. Sensex reclaims the 38000 mark, whereas, Nifty too, surged to over 11634 levels. On the macro front, industrial production data for February 2019 and inflation rate for march 2019 will be unveiled after market hours today. Meanwhile, European shares traded lower on Friday, dragged down by banks, while lingering worries over global growth kept investors on edge before the crucial earnings season in the United States.

On Friday, Crude Oil prices rose by Rs 41 to Rs 4,430 per barrel in futures market as speculators created fresh positions, taking positive cues from overseas markets. At 14:27 hours, the 30-share benchmark index was trading at 38781.1 up by 174.09 points or by 0.45 per cent then NSE Nifty was at 11634.55 up by 37.85 points or by 0.33 per cent. Sensex touched intraday high of 38802.04 and intraday low of 38554.79 The NSE Nifty touched intraday high of 11636.85 and intraday low of 11578.8.

The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 304.70,+2.83%), Maruti Suzuki India Ltd. (Rs. 7329.05,+2.09%), Axis Bank Ltd. (Rs. 763.85,+1.57%), Asian Paints Ltd. (Rs. 1440.60,+1.26%), Hero MotoCorp Ltd. (Rs. 2635.00,+1.23%), among others. The top losers of the NSE Nifty pack were Indian Oil Corporation Ltd. (Rs. 155.55,-1.52%), Larsen & Toubro Ltd. (Rs. 1360.85,-1.24%), Indiabulls Housing Finance Ltd. (Rs. 835.85,-1.18%), Bharti Airtel Ltd. (Rs. 342.60,-1.08%), Hindalco Industries Ltd. (Rs. 209.30,-0.95%), among others.

Among the sectors, FMCG index was at 11860.47 up by 180.85 points or by 1.55%. Kwality Ltd. (Rs. 6.66,+9.90%), Prabhat Dairy Ltd. (Rs. 82.05,+4.99%), Ruchi Soya Industries Ltd. (Rs. 7.30,+4.58%), Jyothy Laboratories Ltd. (Rs. 194.20,+4.46%), Gillette India Ltd. (Rs. 7238.40,+4.37%),. On the flip side, CGS index was at 18348.88 down by -104 points or by -0.56%. Graphite India Ltd. (Rs. 449.50,-2.27%), CG Power and Industrial Solutions Ltd. (Rs. 39.10,-1.76%), SKF India Ltd. (Rs. 2089.95,-1.68%), Larsen & Toubro Ltd. (Rs. 1360.90,-1.23%), Havells India Ltd. (Rs. 744.15,-1.02%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2732 , shares advanced were 1383 while 1152 shares declined and 197 were unchanged.