Sensex remains higher; SBI, ONGC, M&M up - The New Indian Express

Sensex remains higher; SBI, ONGC, M&M up

Published: 13th March 2014 02:18 PM

Last Updated: 13th March 2014 02:18 PM

Indian equities continued to trade on a firm notein the post noon trade on Thursday. Oil & gas and banking stocks witnessed a gain whereas IT stocks registered a fall. Shares of IT companies declined on Thursday after Infosys issued weak revenue outlook for current quarter as well as next financial year. Infosys CEO and managing director S D Shibulal said muted growth in the fourth quarter of 2013-14 may spill over to the next financial year also.

At 1.17 p.m., the Sensex was trading up 80.78 points or 0.37% at 21,937 with 26 components gaining. Meanwhile, the Nifty was trading higher by 29.90 points or 0.46% at 6,546.80 with 44 components gaining.

Sensex Movers

Reliance Industries contributed rise of 40.03 points in the Sensex. It was followed by H D F C Bank (39.24 points), Oil & Natural Gas Corporation (27.01 points), State Bank Of India (23.73 points) and I C I C I Bank (21.9 points).

However, Sun Pharmaceutical Industries contributed fall of 17.85 points in the Sensex. It was followed by D L F (0.67 points),and Reliance Communications (0.28 points).

Major gainers in the 30-share index were State Bank Of India (2.85%), Oil & Natural Gas Corporation (2.79%), Mahindra & Mahindra (2.54%), Coal India (2.43%), H D F C Bank (2.27%), and Reliance Industries (2.13%).

On the other hand, Infosys (7.79%), Sun Pharmaceutical Industries (3.48%), and Jindal Steel & Power (0.66%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 0.77% and 0.61% respectively. The major gainers in the BSE Midcap were A B G Shipyard (3.05%), Allahabad Bank (2.2%), Alstom India (1.8%), Aban Offshore (1.21%) and CORE Education and Technologies (0.66%).The major gainers in the BSE Smallcap were Dr Datsons Labs (1.9%), Reliance MediaWorks (1.14%), A2Z Maintenance & Engineering Services (0.67%), Styrolution ABS (India) (0.62%) and Trident (0.27%).

Sectors in Limelight

The Oil & Gas index was at 9,306.69, up by 248.22 points or by 2.74%. The major gainers were Bharat Petroleum Corporation (9.87%), Hindustan Petroleum Corporation (9.61%), Indian Oil Corporation (7.63%), G A I L (India) (1.55%) and Cairn India (0.03%).

The Bankex index was at 14,008.57, up by 285.04 points or by 2.08%. The major gainers were Canara Bank(3.05%), Bank Of India (2.89%), Bank Of Baroda (2.31%), H D F C Bank (2.27%) and Federal Bank (0.82%).

On the other hand, the IT index was at 9,076.30, down by 279.08 points or by 2.98%. The major losers were Infosys (7.79%), Financial Technologies (India) (3.04%), Hexaware Technologies (2.01%) and Mphasis (1.14%).

Market Breadth

Market breadth was negative with 1,450 advances against 1,150 declines.

Value and Volume Toppers

Infosys topped the value chart on the BSE with a turnover of Rs. 1,106.11 million. It was followed by Financial Technologies (India) (Rs. 491.46 million), HSIL (Rs. 391.17 million) and L&T Finance Holdings (Rs. 380.67 million).

The volume chart was led by L&T Finance Holdings with trades of over 4.64 million shares. It was followed by HSIL (3.30 million), Spicejet (2.76 million) and Sybly Industries (2.29 million).

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