Mid-Session: Sensex, Nifty stay on firm footing; Wipro down 1% : 27/01/2017 12:37
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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The key domestic benchmark indices continued to trade higher in a broad-based rally on Wednesday, driven by strong across power and PSU space, tracking firm cues from fellow Asian peers. The Indian rupee was also trading higher against its US counterpart amid fresh selling of dollar by foreign funds and exporters. Wipro fell over 1 per cent after the country’s third largest software exporter reported a 5.7 per cent year-on-year decline in consolidated net profit at Rs 2,109.6 crore for the third quarter ended December 31, 2016, as employee costs and technical fees rose.
At 12:27 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27891.47, up by 183.33 points or by 0.66 per cent, and the NSE Nifty was at 8659.15, up by 56.4 points or by 0.66 per cent.
In the day’s trade so far, the BSE Sensex touched intraday high of 27969.48 and intraday low of 27759.48, while the NSE Nifty touched intraday high of 8672.7 and intraday low of 8606.9.
Investors shrugged off concerns over Donald Trump’s protectionist policies and shifted focus to Union Budget 2017-18 which will be presented on February 1.
The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 267.80,+3.10%), Axis Bank Ltd. (Rs. 475.00,+2.44%), Housing Development Finance Corporation Ltd. (Rs. 1366.25,+2.26%), Mahindra & Mahindra Ltd. (Rs. 1268.50,+2.06%), GAIL (India) Ltd. (Rs. 485.20,+1.98%), among others.
On the flip side, Lupin Ltd. (Rs. 1499.05,-1.28%), Wipro Ltd. (Rs. 467.45,-1.27%), ITC Ltd. (Rs. 261.50,-1.26%), Hindustan Unilever Ltd. (Rs. 860.80,-0.96%), Tata Motors Ltd. (Rs. 543.40,-0.84%), were among top losers on BSE.
On the sectoral front, power and PSU stocks were leading the gain, advancing as much as 1.23 per cent and 1.19 per cent respectively.
The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2793, shares advanced were 1541 while 1056 shares declined and 196 were unchanged.
