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Benchmark indices are trading firm led by the gains in pharmaceuticals and select index heavyweights like ITC and Infosys. Globally, equity markets have edged higher on speculations that ECB may launch a bond buying programme later today to revive inflation the Euro area.
At 10:27AM, the 30-share Sensex was up 136 points at 29,025 and the 50-share Nifty was up 32 points at 8,761.
The Sensex has touched its new all-time high level of 29,060.41 and Nifty has hit its fresh record-high level of 8,772.70 in today’s session.
In the broader market, both the BSE Midcap and Smallcap indices have performed better than the front-liners with gains of 0.5% each. Market breadth in BSE is positive with 1,188 advances against 702 declines.
Meanwhile, foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore on Wednesday, as per the provisional stock exchange data.
Buzzing Stocks
11 of the 12 sectoral indices of BSE are in green. BSE Healthcare indexhas gained around 1.4% and is the top gainer followed by BSE FMCG index, up 1.3% and BSE Capital Goods index, up 0.7%. BSE Realty index, down 0.4% is the sole loser.
Sesa Sterlite has gained around 2% on media reports that the company may soon restart mining operations in the state of Goa where it has a large stake in iron ore mines. Tata Steel has gained around 0.8% and Hindalco has gained around 0.2%.
ITC has gained over 1.5% post its results announcement late Wednesday on the back of weak cigarette volumes and downgrade by several brokerages.
Among pharma shares, Sun Pharma has gained over 2.5%, Cipla is up 1.3% and Dr Reddys Lab has gained around 0.5%.
Among oil and gas shares, ONGC has gained around 1.5, GAIL is up 0.2% while RIL has lost 0.7%.
Financials are trading mixed in today’s session. HDFC Bank has gained around1%, Axis Bank has gained over 1% while SBI is marginally down by 0.2% and ICICI Bank has shed 0.6%.
Among other shares, L&T Finance Holdings is up nearly 5% after the company posted robust earnings during the third quarter ended December 2014 on the back of healthy margins, good fee income, well-managed operating costs and optimisation in borrowing costs.
Hitachi Home and Appliances has rallied 13% after the company said Hitachi Appliances, Inc., the parent company, has agreed to divest its stake in the company into a global joint venture.
