Thursday 8 August 2013

Sensex up 55 points; Metal, realty stocks major gainers

The Sensex and the Nifty were trading up by about 0.3 per cent in the afternoon session on Thursday as marketmen remained cautious despite firm Asian cues.

At 12.15 p.m., the 30-share BSE index Sensex was up 54.61 points (0.29 per cent) at 18,719.53 and the 50-share NSE index Nifty was up 24.55 points (0.44 per cent) at 5,543.65.

Among BSE sectoral indices, metal and realty stocks rallied and were up 2.52 per cent and 2.41 per cent, respectively, followed by atuo 1.21 per cent and capital goods 0.75 per cent.

On the other hand, healthcare index was the worst-hit and was down 1.54 per cent, followed by oil & gas 0.58 per cent and IT 0.09 per cent.

Among 30-share Sensex, Hindalco, Sterlite, Tata Steel, HDFC and Jindal Steel were the top five gainers, while the top five losers were Sun Pharma, Wipro, Cipla, Dr Reddy's and ONGC.

The Nifty opened at 5,510, down nine points while the Sensex opened at 18,687, up 22 points.

The market will remain volatile but the Nifty is unlikely to breach 5,480 on the downside, said technical analyst Gurudatta Dhanokar.

Asian stocks were up, driven by healthcare companies, after the Bank of Japan maintained its stimulus policy and Chinese exports grew more than forecast.

Nikkei shed 232.72 points or 1.68 per cent to 13,592.20, Hang Seng rose 106.18 points or 0.49 per cent to 21,695 and S&P/ASX 200 climbed 46.60 points or 0.93 per cent to 5,057.90.

The Wall Street had ended lower on Wednesday as uncertainty over when the as uncertainty over when the Federal Reserve will begin to wind down its stimulus kept buyers at bay.

If the data show US jobless claims have increased, then it could delay the US’ plans of scaling back its $85-billion-a-month bond-buying programme to prop up the economy.

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