Market ekes out small gains in August

Indian equities bounced back on Wednesday snapping earlier losses. The Sensex ended on a buoyant note with both the bourses gaining over 1% led by metal, realty, teck and IT space. Broader markets too supported the upmove. The barometer index Sensex bounced back in early trade in line with global markets. Some profit bookin was seen at higher levels for a short period. However the indices gained momentum as buying intensified across board. Further opening of firm European market also led to the rally which helped Nifty to breach 5,400 mark. Finally, it wrapped the day on a cheerful note after hitting a high of 18,227.14.



At the close, the benchmark 30-share index, BSE Sensex added 234.75 points or 1.31% at 18,205.87 with 27 components registering rise. Meanwhile, the broad based NSE Nifty went up by 69.45 or 1.29% at 5,471.85 with 43 components posting rise.

European stocks gained as Chinese manufacturing accelerated and Australia`s economy expanded at the fastest pace in three years. Asian stocks rose, with the regional benchmark index rebounding from the worst monthly performance since May, and copper climbed after China`s manufacturing quickened and Australia’s economy grew faster than economists estimated.

Sensex Movers

Infosys Technologies contributed rise of 43.4 points in the Sensex. It was followed by Reliance Industries (42.4 points), I C I C I Bank (24.53 points), Bharti Airtel (16.89 points) and Larsen & Toubro (14.29 points).

However, Housing Development Finance Corporation contributed fall of 4.48 points in the Sensex. It was followed by Hero Honda Motors (4.28 points), Oil & Natural Gas Corporation (2.81 points), Sun Pharmaceutical Industries (0.9 points) and Tata Motors (0.46 points).

Major gainers in the 30-share index were Reliance Communications (4.94%), Hindalco Industries (4.48%), Sterlite Industries (India) (3.57%), Bharti Airtel (3.10%), Tata Steel (2.94%), and D L F (2.57%).

On the other hand, Hero Honda Motors (1.85%), Housing Development Finance Corporation (0.42%), and Oil & Natural Gas Corporation (0.38%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 1.67% and 1.81% respectively.

The major gainers in the BSE Midcap were Alfa-Laval (India) (2.42%), Core Projects and Technologies (1.91%), Aban Offshore (1.37%), A I A Engineering (1.09%) and Alstom Projects India (0.1%).

The major gainers in the BSE Smallcap were A B G Shipyard (2.95%), Aarti Industries (2.84%), Abhishek Industries (1.68%), A B G Infralogistics (1.5%) and INEOS ABS (India) (0.56%).

Sectors in Limelight

The Metal index was at 15,429.53, up by 452.03 points or by 3.02%. The major gainers were Hindustan Zinc (6.62%), Hindalco Industries (4.48%), JSW Steel (3.73%), Jindal Steel & Power (1.81%) and National Aluminium Company (1.16%).

The Realty index was at 3,430.91, up by 99.15 points or by 2.98%. The major gainers were Anant Raj Industries (3.86%), Indiabulls Real Estate (3.69%), D B Realty (3%), Housing Development and Infrastructure (2.72%) and D L F (2.57%).

The TECk index was at 3,450.80, up by 75.93 points or by 2.25%. The major gainers were Dish TV India (6.43%), Bharti Airtel (3.1%), Reliance MediaWorks (1.81%), Mphasis (1.16%) and Idea Cellular (0.91%).

The IT index was at 5,483.34, up by 107.72 points or by 2.00%. The major gainers were Infosys Technologies (2.54%), Oracle Financial Services Software (1.47%), Tech Mahindra (1.36%), Mphasis (1.16%) and H C L Technologies (0.78%).


Market Breadth

Market breadth was positive with 2,242 advances against 771 declines.

Value and Volume Toppers

I C I C I Bank topped the value chart on the BSE with a turnover of Rs. 419.73 million. It was followed by Jet Airways (India) (Rs. 344.10 million), Sesa Goa (Rs. 271.90 million) and Larsen & Toubro (Rs. 156.01 million).

The volume chart was led by Sesa Goa with trades of over 0.83 million shares. It was followed by Jet Airways (India) (0.48 million), I C I C I Bank (0.42 million) and Natco Pharma (0.34 million).