Published on February 25, 2014
Choppy markets end in green; Nifty @6200 Market Snapshot | 25-02-2014 04:21 PM Indian indices extended continued previous session’s momentum by spiking at open with Nifty surpassing 6200 milestone on optimistic global cues.Later, benchmarks pared early gains to hit intra-day low levels, but soon recouped to trade back in green zone. Choppy markets ended in positive territory with Nifty settling at 6200. On BSE sectorial front, Consumer Durables was the top gainer. Among global peers, US indices climbed higher with S&P 500 setting a new record intraday high on hopes that Fed Chair Person Janet Yellen may not continue tapering citing weak economic data. Most of the Asian and European markets too traded in green zone with Nikkei touching 4 -week closing high. Back home, on currency front, domestic currency strengthened against Dollar amidst weakness in USD against other currencies. In futures trades, INR hit an intra-day high of 61.95/USD and an intra-day low of 62.03/USD. In spot trades, INR hit an intra-day high of 61.8/USD and an intra-day low of 62.04/USD. As per RBI reference rate, INR stood at 61.97/USD. Gujarat Gas Company rallied 6% on BSE after company’s board approved the proposed consolidation by way of amalgamation of the Company with GSPC Distribution Networks (GDNL), GSPC Gas (GSPC Gas), Gujarat Gas Financial Services (GFSL) and Gujarat Gas Trading Company (GTCL). (Read More) Kinetic Engineering soared 5% on BSE after the company sold its entire shareholding in Mahindra Two Wheelers (MTWL) to Samena Capital. (Read More) Titan climbed 3.4% on BSE on reportedly receiving approval from Reserve Bank of India (RBI) to hedge more gold in the international market. (Read More) Federal Bank jumped 2.3% on BSE on getting nod from Cabinet Committee of Economic Affairs (CCEA) for foreign equity participation upto 74% of the paid up capital of the Bank, with sub-limit of 49% by FII's and 24% for NRI's. (Read More) Punj Lloyd dipped 1.7% on BSE after receiving a Termination Notice for Fourth Transmission Pipeline contract (FTP Contract) awarded by PTT Public Company, Thailand. (Read More) T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1371 and 1380 respectively, while 179 scrips remained unmoved. The S&P BSE Sensex ended at 20852.47, up 41.03 points or 0.20%. The 30 share index touched a high and a low of 20912.54 and 20777.73 respectively. 14 stocks advanced against 15 declining ones on the benchmark index. The CNX Nifty gained 13.95 points or 0.23% to settle at 6200.05. The index touched high and low of 6216.85 and 6176.60 respectively. 26 stocks advanced against 23 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6462.32 and gained 0.32% while S&P BSE Small-cap index jumped up by 0.09% to 6421.70. The broader S&P BSE 500 index increased to 7629.06 (up 0.24%) and CNX 500 index rose to 4793.90 (up 0.22%). The volatility as denoted by INDIA VIX lost 2.84% at 1395.00 from its previous close of 1435.75 on Monday. Sectors in action On the BSE Sectorial front, Consumer Durables (up 2.96%), Information Technology (up 0.90%) and Automobile (up 0.59%) were the top gainers. Metals (down 1.75%), Power (down 0.42%) and Oil & Gas (down 0.09%) were the top losers. The Angels and the Devils Wipro Ltd (up 2.95%), Bajaj Auto Ltd (up 2.14%), Bharat Heavy Electricals Ltd (up 1.92%), Cipla Ltd (up 1.90%) and Bharti Airtel Ltd (up 1.57%) were the top gainers on the Sensex.
Continuing previous session’s momentum, Indian equity indices opened gap up on positive global cues. Sensex touched a high in excess of 21330 in morning ...
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