Sensex up for 7th day, closes 169 points higher

Major headlines

DB Realty continues to surge, up 19%

Paper stocks soar on AP Paper deal

Dr Reddy’s acquires US penicillin facility

Indian indices

The unstoppable rally continued for the seventh successive session on account of positive global cues and robust FII inflows. The Nifty touched the 5800 mark in an intraday trade for the first time since January 25 but closed below that level.
SBI, Titan Industries, Tata Coffee, Acropetal Tech, L&T, Reliance Industries and ICICI Bank were the most active shares on the exchanges. BSE Midcap up 1.5% and Smallcap up 2.2% indices outperformed the Sensex.

In the Midcap space, IVRCL Assets, JM Financial, Kirloskar Oil and IL&FS Transport were the gainers. However, Parsvnath, Sunteck Realty, KGN Industries, Bombay Rayon and Puravankara Projects were the losers.
In the Smallcap space, Smartlink Network and Lloyds Metals rallied. However, R M Mohite, Fame India, Modern India, Falcon Tyres and Rollatainers fell.

Firm global cues supported the Sensex to start the session 58 points higher at 19179 and also its day’s low. The index moved upwards and hit the day’s high of 19357 in early afternoon session. However from the level, the Sensex trimmed gains as some selling pressure was seen in FMCG stocks. The Sensex rose 169 points to settle at 19290 and the Nifty stood at 5788, up by 51 points.

Market sentiment

The market breadth stood strong as advancing stocks were up over two times against declines. Of the 2,951 stocks traded on the BSE, 2,057 surged while 801 fell. Whereas, 93 stocks remained unchanged.

Viewing volumes

India's second largest real estate developer - Unitech was traded the most, with over 0.55 crore shares changing hands on the BSE. It was followed by a construction company - Hindustan Construction Company (0.39 crore shares), realty major - D B Realty (0.38 crore shares), India's largest public sector hydroelectric power producer - NHPC (0.36 crore shares) and an industrial finance company - IFCI (0.28 crore shares).

Sectoral & stock screening

All the sectoral indices closed the trade on a positive note except BSE FMCG down 0.38%. Top three sectoral gainers - BSE Consumer Durables (CD) advanced by 3.98%, BSE Realty gained by 3.14% and BSE Healthcare (HC) up by 1.95%.

In 'A' group stocks, top three gainers - D B Realty shot up by 18.79%, Shree Cement rose by 9.34% and Ambuja Cements surged by 8.19%. Top three losers - Hindustan Zinc fell by 3.03%, Tech Mahindra lost by 2.46% and Petronet LNG declined by 2.36%.

Global signals

European shares hit a three-week high on Wednesday, with investors positioned for positive US ADP National Employment data, while miners gained on hopes that the global economy is recovering.

All the Asian markets closed on a positive note on Wednesday except Shanghai Composite that fell by 0.07%.

A rise in US stock index futures signal positive opening on the Wall Street today (Wednesday).

Market Outlook: ADP Employment Change data will be released today in the US.