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Markets continued to trade range-bound in afternoon session this Thursday on back of significant buying witnessed in sectors such as banks and automobiles, however, investors preferred to remain on the side-lines after yesterday’s rally.
On Wednesday, the benchmark indices rallied to a 28-month high and the Bank Nifty shot up to a 30- month high in today's trade after RBI governor said that he has noted the fall in inflation, fuelling hopes for a further rate cut in the upcoming Policy.
At 1:20PM, the Bombay Stock Exchange's 30-share index Sensex rose 22 points at 20,235 while the National Stock Exchange's 50-share gained 18 point at 6,163.
Global shares traded mixed with Japan’s Nikkei 225 falling from its multi-year highs on back of profit-booking.
Asian markets traded mixed with Hong Kong’s Hang Seng gaining 0.3% to 23,109, China’s Shanghai Composite added 1.2% to 2,251, Singapore’s Straits Times rose 0.06% to 3,443 while Japan’s Nikkei dropped 0.4% to 15,036 today.
Meanwhile, European markets were mixed in opening deals. France’s CAC declined 0.3% to 3,964, UK’s FTSE rose 0.1% to 6,702 while Germany’s DAX was down 0.14% to 8,350.
Back home, the key sectoral indices such as oil and gas, banks, real-estate, PSU gained while FMCG, IT, technology dropped on the BSE.
The gainers on the Sensex included, Dr Reddy’s and Cipla gaining 3.2% and 2.5% respectively, Reliance Industries was up 2.2%, SBI and ICICI Bank rose nearly 2% on the BSE.
The laggards were ITC and HUL falling 2% and 0.5% respectively, Infosys and TCS were down 2% and 1% while Tata Motors was down 0.9% on the BSE.
The key notable movers were, Som Distilleries and Breweries has rallied 8% to Rs 263 after the company said it is in the process of raising $30 million (approximately Rs 150 crore) to part finance the future inorganic and organic growth plans.
Tata Communications is trading lower by nearly 4% at Rs 230 on NSE after the company announces its intention to delist from the New York Stock Exchange (NYSE) and will terminate its American Depositary Receipts (ADR) programme due to low trading volumes.
The broader markets gained with mid-caps and small-caps rising nearly 0.1-0.6% on the BSE.
The market breadth was flat. Out of 2,032 stocks traded, 954 stocks gained compared to 973 declines on the BSE.
