Sensex ends at all time high on IMF growth forecast - The New Indian Express

Sensex ends at all time high on IMF growth forecast

Published: 09th April 2014 04:18 PM

Last Updated: 09th April 2014 04:18 PM

Indian equities settled on a higher note on Wednesday on the back of higher capital inflows amid IMF's forecast of better growth prospects for India in 2014. Banking, metal and healthcare stocks witnessed a gain whereas IT stocks registered a fall.Both Sensex and Nifty traded at a new life time high.

At the close, the benchmark 30-share index, BSE Sensex added 358.89 points or 1.61% at 22,702.34 with 25 components posting rise. Meanwhile, the broad based NSE Nifty went up by 101.15 points or 1.51% at 6,796.20 with 44 components registering rise.

International Monetary Fund (IMF) expects India's real GDP growth will strengthen, partly due to government efforts to revive investment growth. IMF has estimated the country's GDP growth at 5.4% and 6.4% for FY2015 and FY2016 respectively.

Sensex Movers

I C I C I Bank contributed rise of 70.35 points in the Sensex. It was followed by Housing Development Finance Corporation (61.18 points), H D F C Bank (41.98 points), Reliance Industries (38.44 points) and Sun Pharmaceutical Industries (35.14 points).

However, Infosys contributed fall of 19.59 points in the Sensex. It was followed by Tata Consultancy Services (11.31 points), Oil & Natural Gas Corporation (10.92 points), Wipro (1.74 points) and ACC (0.88 points).

Major gainers in the 30-share index were Sun Pharmaceutical Industries (6.62%), Tata Motors (4.67%), Hindalco Industries (4.12%), I C I C I Bank (3.88%), State Bank Of India (3.52%), and Housing Development Finance Corporation (3.46%).

On the other hand, Infosys (1.25%), Oil & Natural Gas Corporation (1.09%), Tata Consultancy Services (0.95%), and Wipro (0.55%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 1.66% and 1.94% respectively. The major gainers in the BSE Midcap were Allahabad Bank(4.14%), Aban Offshore (0.79%), CORE Education and Technologies (0.48%), Alstom India (0.22%) and A B G Shipyard (0.02%).The major gainers in the BSE Smallcap were Action Construction Equipment (13.6%), A2Z Maintenance & Engineering Services (9.94%), Advanta (5.57%), Styrolution ABS (India) (0.92%) and Dr Datsons Labs (0.72%).

Sectors in Limelight

The Bankex index was at 14,804.36, up by 499.01 points or by 3.49%. The major gainers were Federal Bank (5.22%), Bank Of Baroda (4.99%), Bank Of India (3.78%), Canara Bank (3.42%) and H D F C Bank (2.34%).

The Metal index was at 10,364.31, up by 229.96 points or by 2.27%. The major gainers were Hindalco Industries (4.12%), Coal India (1.41%), Hindustan Zinc (1.33%), Jindal Steel & Power (1.26%) and Bhushan Steel (1.08%).

The HC index was at 10,591.72, up by 227.55 points or by 2.20%. The major gainers were Cadila Healthcare (1.59%), Aurobindo Pharma (0.87%), Cipla (0.82%), Divis Laboratories (0.69%) and Biocon (0.54%).

On the other hand, the IT index was at 8,759.81, down by 107.54 points or by 1.21%. The major losers were Tech Mahindra (3.07%), H C L Technologies (1.85%), Infosys (1.25%), Tata Consultancy Services (0.95%) and Wipro (0.55%).

Market Breadth

Market breadth was positive with 1,919 advances against 898 declines.

Value and Volume Toppers

Sun Pharmaceutical Industries topped the value chart on the BSE with a turnover of Rs. 704.08 million. It was followed by Ranbaxy Laboratories (Rs. 607.62 million), State Bank Of India (Rs. 491.37 million) and Infosys (Rs. 320.41 million).

The volume chart was led by Spicejet with trades of over 6.77 million shares. It was followed by Suzlon Energy (6.41 million), Essar Oil (2.65 million) and Ashok Leyland (2.61 million).

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