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Firm trades continue, Oil & gas shares lead rally

PSU, healthcare and IT indices continue to trade in green post encouraging inflation data

SI Reporter Mumbai
Markets continued to trade in the reen, but gave off some gains as investors took to booking profits after a easing inflation data. The Sensex is up 82 points at 19,773. Earlier in the day, the index had touched a high of 19,832. Nifty is up 19 points at 6,000.

The financial year 2013-14 began on a positive note so far as price pressures are concerned. The wholesale price index-based inflation plunged to sub-5 level to stand at 4.89% in April against 5.96% in the previous month, official release showed today. This is the lowest level since last seen in 2009.
 
The broader markets gained in line with the benchmark. BSE mid-cap index is up 23 points at 6,468. Small-cap index has added 11 points at 6,125.

"We have seen a sharp fall of around 133 points in previous trading session with a significant rise in implied volatility & the PCR ratio to 1.22. The strike of 6100 & 6200 on the call side has seen around 20% additions in open interest & on the put side 5700 & 5800 put has also seen good activity. I think bias for the market remains positive to sideways unless market is holding the recent low of 5980 levels. On higher side 6050 levels can also be tested in 1 or 2 days," said Nandish Patel, Derivative Analyst, Sharekhan.

Asian shares snapped a two-day losing streak and rose on Tuesday as a suprising rise in US retail sales boosted sentiment, but the dollar took a breather after gaining broadly on growing optimism about the recovery in the world's largest economy. The markets slipped soon after with the Shanghai Composite slipping 1.3% and Nikkei and Hang Seng dropping marginally as well.

BSE oil & gas index has added 1% at 8,688. PSU, healthcare and IT indices are up 0.5-1% each as well. On the other hand, the consumer durables index has shown weakness and dipped 1% at 7,601. BSE capital goods and realty indices are trading flat at the moment.

ONGC has gained 1.8% at Rs 327. Hindalco and Bharti Airtel have added 1.5% each. Among other gainers are Gail, SBI and TCS. On the other hand, Bajaj Auto, Wipro and BHEL are down nearly 1% each.

BSE market breadth is positive. Out of 2208 stocks traded, 1077 stocks advanced while 996 stocks declined in trades.

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First Published: May 14 2013 | 12:55 PM IST

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