The Nifty sees gains for the third consecutive session retracing back to 7900 as sentiment turned positive with foreign investors returning to Indian market. Metal and cement stocks are also adding strength after the cabinet decision to introduce an ordinance to re-auction the de-allocated coal blocks which will be completed in the next 3-4 months. The Sensex is up 150.35 points at 26580.20, and the Nifty is up 45.30 points at 7924.70. About 1415 shares have advanced, 733 shares declined, and 81 shares are unchanged. The Bank Nifty is at a lifetime high today outperforming the Nifty month-to-date in October with a gain of 6.7 percent in the month versus a 0.44 percent gain for the Nifty. HDFC Bank and PNB also trade higher ahead of Q2 earnings today. Sesa Sterlite, GAIL, BHEL, NTPC and Bharti Airtel are top gainers in the Sensex. Among the losers are Coal India, ONGC, Sun Pharma, ITC and M&M. Globally, Asia is mostly lower reacting to a raft of economic data from china. GDP for Q3 in China came in at 7.3 percent slightly better than the estimated 7.2 percent but slower than the 7.5 percent in the previous quarter. September industrial data from China jumped 8 percent beating estimates but retail sales missed estimates.
Tuesday, 21 October 2014
Sensex up 150 pts, Bank Nifty at life high; ITC falls 1%
The Nifty sees gains for the third consecutive session retracing back to 7900 as sentiment turned positive with foreign investors returning to Indian market. Metal and cement stocks are also adding strength after the cabinet decision to introduce an ordinance to re-auction the de-allocated coal blocks which will be completed in the next 3-4 months. The Sensex is up 150.35 points at 26580.20, and the Nifty is up 45.30 points at 7924.70. About 1415 shares have advanced, 733 shares declined, and 81 shares are unchanged. The Bank Nifty is at a lifetime high today outperforming the Nifty month-to-date in October with a gain of 6.7 percent in the month versus a 0.44 percent gain for the Nifty. HDFC Bank and PNB also trade higher ahead of Q2 earnings today. Sesa Sterlite, GAIL, BHEL, NTPC and Bharti Airtel are top gainers in the Sensex. Among the losers are Coal India, ONGC, Sun Pharma, ITC and M&M. Globally, Asia is mostly lower reacting to a raft of economic data from china. GDP for Q3 in China came in at 7.3 percent slightly better than the estimated 7.2 percent but slower than the 7.5 percent in the previous quarter. September industrial data from China jumped 8 percent beating estimates but retail sales missed estimates.
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