Sensex ends 97 points higher; banks, power rise - The New Indian Express

Sensex ends 97 points higher; banks, power rise

Published: 17th February 2014 04:18 PM

Last Updated: 17th February 2014 04:18 PM

Indian markets settledhigheron Monday. Finance Minister P Chidambaram has presented interim budget in the Lok Sabha today. Banking and power stocks witnessed a gain whereas consumer durables and realty stocks registered a fall.

The finance minister said that the government will curb fiscal deficit at 4.6% for FY14.Cars, mobiles and consumer durables to be cheaper. Chidambaram also announced that India's current account deficit for 2013-14 will come down to USD 45 billion and forex reserves will rise by USD 15 billion by end of this fiscal.He alsoslashed excise duty on cars, SUVs and two-wheelers, and capital goods and consumer durables to boost manufacturing and growth.

At the close, the benchmark 30-share index, BSE Sensex gained 97.24 points or 0.48% at 20,464.06 with 20 components registering rise. Meanwhile, the broad based NSE Nifty went up by 28.15 points or 0.47% at 6,076.50 with 31 components registering rise.

Sensex Movers

I C I C I Bank contributed rise of 34.78 points in the Sensex. It was followed by H D F C Bank (22.01 points), Housing Development Finance Corporation (18.26 points), Mahindra & Mahindra (14.83 points) and Tata Power Company (9.54 points).

However, Reliance Industries contributed fall of 21.46 points in the Sensex. It was followed by Tata Motors (3.13 points), Reliance Communications (2.49 points), Sun Pharmaceutical Industries (2.36 points) and Hindalco Industries (2.13 points).

Major gainers in the 30-share index were Tata Power Company (4.81%), Mahindra & Mahindra (2.83%), Dr Reddy's Laboratories (2.45%), I C I C I Bank (2.13%), Hero Motocorp (1.99%), and Maruti Suzuki India (1.38%).

On the other hand, Coal India (1.59%), Hindalco Industries (1.35%), Reliance Industries (1.22%), Wipro (0.56%), Bharat Heavy Electricals (0.54%), and Sun Pharmaceutical Industries (0.49%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Midcap settled lower -9.93 points or 0.05% at 6,301.95 however the Bse Smallcap gained 0.91 points or 0.01% at 6,280.60 at the closing.The major losers in the BSE Midcap were A B G Shipyard (5.03%), CORE Education and Technologies (4.55%), A I A Engineering (1.41%), Aban Offshore (0.78%) and Alstom India (0.02%).The major gainers in the BSE Smallcap were Ahluwalia Contracts (India) (2.67%), Genesys International Corporation (0.7%), Reliance MediaWorks (0.31%), Adhunik Metaliks (0.17%) and Advanta (0.05%).

Sectors in Limelight

The Bankex index was at 11,830.53, up by 172.75 points or by 1.48%. The major gainers were I C I C I Bank (2.13%), H D F C Bank (1.36%), Indusind Bank (1.19%), Canara Bank (0.92%) and Federal Bank (0.07%).

The Power index was at 1,523.09, up by 17.86 points or by 1.19%. The major gainers were Adani Power (3.95%), A B B India (2.55%), JSW Energy (2.35%), C E S C (2.11%) and NTPC (1.36%).

The Consumer Durables index was at 5,664.80, down by 48.45 points or by 0.85%. The major losers were Titan Company (1.23%), Symphony (1.12%), T T K Prestige (0.85%), Bajaj Electricals (0.83%) and Gitanjali Gems (0.77%).The Realty index was at 1,199.84, down by 10.14 points or by 0.84%. The major losers were Indiabulls Real Estate (1.48%), Anant Raj (1.36%), D L F (1%), Godrej Properties (0.48%) and Oberoi Realty (0.46%).

Market Breadth

Market breadth was negative with 1,270 advances against 1,395 declines.

Value and Volume Toppers

Tata Elxsi topped the value chart on the BSE with a turnover of Rs. 406.49 million. It was followed by Aurobindo Pharma (Rs. 385.82 million), Multi Commodity Exchange of India (Rs. 377.03 million) and State Bank Of India (Rs. 366.70 million).

The volume chart was led by I F C I with trades of over 1.95 million shares. It was followed by Spicejet (1.86 million), Unitech (1.64 million) and Jaiprakash Associates (1.61 million).

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