March 5, 2014

Market gains momentum; Nifty ends above 6300

Markets gains momentum as the Ukraine crisis eases

Market gains momentum; Nifty ends above 6300
Markets today closed higher, gains momentum for straight second day. After opening firm, market had slipped into red zone. However, it soon recovered and settled higher, as the imminent military conflict in Ukraine allayed. The S&P BSE Sensex closed up by 67.13 points or 0.32 percent to 21,276.86. It touched a high of 21333 and a low of 21176 in intra-day session. The CNX Nifty gained by 30.7 points or 0.49 percent to 6,328.65. It touched a high of 6336 and a low of 6288 in the intra-day today.

Sectoral indices closed mixed today. Among the decliners, Consumer Durables dropped by 2.36 percent and Auto index declined by 0.23 percent. Oil & Gas and Healthcare indices ended marginally down by 0.15 percent each. While in the gainers, Realty index gains momentum by surging nearly 2 percent. Bankex and Capital Goods also gained between 2-1 percent respectively. Among the other sectoral indices gaining were Metal, Power, FMCG and IT. In the broader markets, Mid-cap index gained nearly 1 percent and Small-cap index gained by 0.47 percent respectively.

Among the index gainers ICICI Bank gains momentum by surging 2.7 percent. Coal India, Cipla SBI, Maruti Suzuki, ONGC, Hindalco and Tata Steel gained between 2-1 percent. Axis Bank also gained nearly 1 percent. HDFC, L&T, ITC, Infosys, TCS, Sun Pharma, NTPC and Wipro were among the other index gainers.

Among the index losers Tata Power dropped by 3.25 percent. Bharti Airtel and Gail (India) slipped between 2-1 percent. Reliance Industries also fell nearly 1 percent. Tata Motors, Mahindra & Mahindra, Hero MotoCorp, Dr Reddys Lab and Hindustan Unilever declined between 1-0.5 percent. Among other index losers were, Sesa Sterlite, Bajaj Auto, HDFC Bank and BHEL.

Overall market breadth ended firm positive. Of the 2838 shares traded, 1505 shares advanced and 1182 shared declined. While 151 shares remained unchanged.

Tags - Market Gains Momentum, Market Pulse, Stock Market Pulse, Capital Markets in India

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