Sensex jumps over 200 points on higher growth prospects - The New Indian Express

Sensex jumps over 200 points on higher growth prospects

Published: 09th April 2014 03:18 PM

Last Updated: 09th April 2014 03:18 PM

Indian equities gained momentumon Wednesdayon the back of higher capital inflows amid IMF's forecast of better growth prospects for India in 2014. Banking, healthcare and realty stocks witnessed a gain whereas IT stocks registered a fall.

At 2.16 p.m., the Sensex was trading up 206.05 points or 0.92% at 22,549.50 with 22 components gaining. Meanwhile, the Nifty was trading higher by 40.20 points or 0.60% at 6,735.25 with 39 components gaining.

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 44.58 points in the Sensex. It was followed by Sun Pharmaceutical Industries (36.39 points), Tata Motors (29.25 points), H D F C Bank (27.96 points) and Housing Development Finance Corporation (27.05 points).

However, Infosys contributed fall of 22.34 points in the Sensex. It was followed by Tata Consultancy Services (17.37 points), Oil & Natural Gas Corporation (12.83 points), Wipro (2.95 points) and I T C (2.45 points).

Major gainers in the 30-share index were Sun Pharmaceutical Industries (6.90%), Hindalco Industries (4.37%), Tata Motors (3.93%), State Bank Of India (2.76%), Tata Steel (2.61%), and I C I C I Bank (2.48%).

On the other hand, Tata Consultancy Services (1.47%), Infosys (1.44%), Oil & Natural Gas Corporation (1.29%), Wipro (0.93%), Hero Motocorp (0.78%), and Bajaj Auto (0.48%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 1.46% and 1.91% respectively. The major gainers in the BSE Midcap were Allahabad Bank(4.14%), Aban Offshore (1.78%), A B G Shipyard (1.74%), A I A Engineering (1.44%) and Alstom India (1.24%).The major gainers in the BSE Smallcap were Action Construction Equipment (11.48%), A2Z Maintenance & Engineering Services (9.94%), Styrolution ABS (India) (1.96%), Adhunik Metaliks (0.33%) and Reliance MediaWorks (0.08%).

Sectors in Limelight

The Bankex index was at 14,646.67, up by 341.32 points or by 2.39%. The major gainers were Bank Of Baroda(5.53%), Federal Bank (4.68%), Bank Of India (4.26%), Canara Bank (4.06%) and H D F C Bank (1.57%).

The HC index was at 10,583.92, up by 219.75 points or by 2.12%. The major gainers were Lupin (1.54%), Aurobindo Pharma (1.48%), Cipla (0.59%), Glaxo SmithKline Pharmaceuticals (0.45%) and Dr Reddy'S Laboratories (0.13%).

The Realty index was at 1,535.55, up by 29.84 points or by 1.98%. The major gainers were D L F (2.95%), Indiabulls Real Estate (2.78%), Housing Development and Infrastructure (0.84%), Godrej Properties (0.26%) and Anant Raj (0.24%).

On the other hand, the IT index was at 8,729.28, down by 138.07 points or by 1.56%. The major losers were H C L Technologies (2.55%), Tech Mahindra (2.53%), Tata Consultancy Services (1.47%), Infosys (1.44%) and Oracle Financial Services Software (0.06%).

Market Breadth

Market breadth was positive with 1,761 advances against 926 declines.

Value and Volume Toppers

D B Corp topped the value chart on the BSE with a turnover of Rs. 1,708.69 million. It was followed by Sun Pharmaceutical Industries (Rs. 605.44 million), Ranbaxy Laboratories (Rs. 539.52 million) and State Bank Of India (Rs. 347.66 million).

The volume chart was led by D B Corp with trades of over 5.89 million shares. It was followed by Suzlon Energy (4.85 million), Spicejet (4.56 million) and Unitech (3.23 million).

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