Sensex gains 128.45 pts; realty and banking stocks advance
Sensex gains 128.45 pts; realty and banking stocks advance The BSE benchmark index having shed some of its points in the previous trading hour, is trading in the positive terrain. Select stocks from auto, banking and realty gained, while IT, cement and pharma stock led the declines. BSE Sensex is trading at 16,692.68, up 128.45 points, while NSE Nifty is trading strong at 4,887.55, up 50.1 points (11.14 a.m).
The BSE Midcap rose 0.83% and BSE Smallcap rose 0.53%.
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Sachin Chandsarkar, senior dealer, Karvy Stock Broking, said that currently the market is in an unchartered territory and nothing can be said about the market crossing the landmark of 17,000, though euphoria is already there for this level.
On Monday, he expects the markets to open with an upward gap, NSE Nifty by 30 to 50 poi nts and BSE sensex by 60 to 100 points. He is bullish on banking sector and recommends Axis Bank, Bank of Rajasthan, CESC and Chambal Fertilizers.
Out of the total 2,459 shares traded at the BSE, 1,187 advanced, 1,213 declined while 59 remained unchanged.
Amongst the sectoral indices, BSE Auto rose 0.25%, BSE Realty rose 1.15% and BSE Bankex rose 1.96%, while BSE IT declined 1.57%.
Key gainers amongst the Sensex include Reliance Energy which inched up 2.81% to touch Rs 1,038.00.00, followed by ICICI Bank which rose 2.32% at Rs 987.55 and Bharti Airtel rose 1.93% at Rs 936.05.
NTPC, Maruti, HDFC Bank, BHEL and ONGC also moved up.
Laggards at the BSE Sensex included Infosys which declined 1.86% to Rs 1,788.00, ITC declined 1.49% at Rs 187.95 and Grasim declined 1.43% at Rs 3,398.00.
Ambuja Cement, Satyam, Bajaj Auto, Dr Reddy`s and TCS also slipped.
