After touching a high of 19,554, up 211 points from the day's opening, the Sensex continues to hover around the same. The Nifty continuing its good run is 50 points up at 5.845. The broader markets have declined as compared to the benchmark index. The smallcap index is at 0.3% and the midcap index is at 0.2%. The Sensex is currently trading 18 times 2010-11, which is marginally higher compared to historical valuations.
On the BSE sectoral indices, there are not much changes. Oil & Gas up 1% continues to lead followed by IT, Metal which opened in the red and Teck. Bankex, after a good run in the previous few days has slipped in to the negative at 0.05%. Capital Goods continue to remain at the bottom.The draggers in the banking space are SBI, Union Bank down 1%, Federal Bank, Bank of India and ICICI Bank losing 0.2% -0.4%.
The market capitalisation of the state owned oil exploration company – Oil and Natural Gas Corporation (ONGC) has crossed Rs three-lakh crore-mark today. The stock rallied 4% to hit a life-time high of Rs 1,453 on the BSE, taking the company's market valuation to touch a record Rs 309,783 crore and is also the top gainer on the Sensex.
The losers on the Sensex-30 are SBI, Jaiprakash Associates down 1% followed by BHEL, DLF losing 0.8% each, Hindustan Unilever, Jindal Steel shedding 0.6%.
The gainers on the Sensex are hevyweight RIL up 2%, Wipro, Hindalco, Infosys, TCS,Tata Steel and Mahindra & Mahindra gaining 1% each.
The market breadth is positive. 1463 stocks have advanced while 1342 have declined.
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