Sensex marginally up; Banking stocks support : 17/10/2016 11:28
Free Intraday Tips : Join Our Whatsapp No : 9841986753
The key domestic benchmark indices were trading slightly in green during the late morning session supported by some buying in ICICI Bank, Axis Bank, NTPC and State Bank of India among others.
At 11:15 hours, the 30-share benchmark index was trading at 27730.83 up by 57.23 points or by 0.21 per cent, while the NSE Nifty was at 8580.25 down by 3.15 points or by 0.04 per cent.
Investors took some encouragement with Prime Minister Narendra Modi’s assertion that results of the reforms undertaken by his government were visible and the country has transformed into 'one of the most open economies' in the world with a strong growth rate.
Sentiments also got some support with report that India’s export during September 2016 has shown sign of revival, registering a growth of 4.62 per cent in dollar term to $22.88 billion as compared to $21.86 billion in September 2015.
Meanwhile, shares of ICICI Bank extended gains and was up 5 per cent after the Essar group on Saturday signed a binding agreement with Russia’s Rosneft, United Capital Partners and Trafigura Group Pte. to sell 98 per cent in its most priced asset, the 20 million tonnes per annum Vadinar refinery and Vadinar port in Gujarat.
In the volatile trade so-far, Sensex touched intraday high of 27803.21 and intraday low of 27663.82 The NSE Nifty touched intraday high of 8615.4 and intraday low of 8567.35
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 257.65,+6.53%), Axis Bank Ltd. (Rs. 530.75,+1.94%), NTPC Ltd. (Rs. 147.00,+1.45%), State Bank of India (Rs. 255.50,+1.43%), Coal India Ltd. (Rs. 315.30,+0.72%), among others.
The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 299.00,-2.24%), Mahindra & Mahindra Ltd. (Rs. 1339.50,-1.29%), Asian Paints Ltd. (Rs. 1192.45,-1.27%), HDFC Bank Ltd. (Rs. 1248.65,-1.01%), Bajaj Auto Ltd. (Rs. 2782.75,-0.79%), among others.
Among the sectors, In BSE, BSE Bankex index was at 22009.24 up by 293.14 points or by 1.35%. ICICI Bank Ltd. (Rs. 257.65,+6.53%), Axis Bank Ltd. (Rs. 530.75,+1.94%), State Bank of India (Rs. 255.50,+1.43%), Punjab National Bank (Rs. 140.30,+0.94%), Bayer Cropscience Ltd. (Rs. 4483.05,+0.85%),.
On the flip side, In BSE, BSE_CGS index was at 14843.9 down by -49.3 points or by -0.33%. Havells India Ltd. (Rs. 426.00,-3.73%), GE T&D India Ltd. (Rs. 341.80,-1.73%), Suzlon Energy Ltd. (Rs. 14.45,-1.16%), AIA Engineering Ltd. (Rs. 1275.00,-0.50%), Larsen & Toubro Ltd. (Rs. 1465.70,-0.46%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2566 , shares advanced were 1582 while 841 shares declined and 143 were unchanged.
On the global front, Asian peers were trading mixed as traders feared a Fed rate hike in the near-term after US retail sales data signaled strength in the world’s biggest economy.
