Indices continue to rule at 4-mth high on good capital inflows

2 Feb 2017

Both the indices, Sensex and Nifty ended in green for the second straight day and continued to rule at 4-month high at 28,226.61 and 8,734.25 respectively on persistent demand in select counters on the back of sustained capital inflows coupled with positive announcement in the Union Budget despite lower global advices.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 92.73 crs on Wednesday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) also bought shares worth a net Rs 1,133.74 crore Wednesday.
The sensex resumed higher at 28,167.83 and hovered in a range of 28,299.92 and 28,070.81 before ending at four-month high at 28,226.61, showing a gain of 84.97 points or 0.30 per cent. The sensex had last ended at 28,334.55 on Oct 4, 2016.
The sensex has gained by 570.65 points or 2.06 per cent in two days.
The CNX 50-share Nifty moved up further by 17.85 points or 0.20 per cent to at 4-month high at 8,734.25. The Nifty had last ended at 8,743.95 on October 5, 2016.
The Nifty has gained by 172.95 points or 2.02 pct in in two days.
Meanwhile, copper prices edged higher in the global commodities markets. High Grade Copper for March 2017 delivery was currently up 0.18 per cent at USD 2.7165 per pound on the COMEX.
Shares of Consumer Durable, Healthcare, IT, Tecl, Telecom , FMCG and Refinery firmed up on good buying support.
In Overseas, most European stocks were trading lower in their afternoon trade as investors awaited a rate decision from the Bank of England, the inflation report and minutes.
Key indices in France, Germany and UK declined by 0.01 pct to 0.29 pct.
Stocks in Asia declined as investors digested a raft of earnings reports. China market remained closed for the final day of Lunar New Year holidays that started last Friday, 27 January 2017. Key indices like Hong Kong, Japan, Singapore, South Korea and Taiwan dropped by 0.20 pct to 1.22 pct.
In broader markets,the BSE Mid-Cap index provisionally rose 0.92 per cent. The BSE Small-Cap index provisionally rose 0.95 per cent. Both these indices outperformed the Sensex.
Of the 30-share Sensex pack, 15 scrips ended higher while the remaining closed lower.
Major gainers were Dr Reddy 3.31 per cent, Sun Pharma 2.64 per cent, Bharti Artl 2.45 per cent, Coal India 2.30 per cent, Infy 2.05 per cent, Cipla 1.87 per cent and TCS 1.68 per cent.
However, M&M fell by 2.49 per cent followed by Tata Motors 2.00 per cent, Hero Motoco 1.77 per cent, Bajaj Auto 1.68 per cent, GAIL 1.61 per cent, L&T 1.17 per cent, HUL 1.05 per cent and Power Grid 0.97 per cent.
Among BSE sectoral and industry indices, consumer durables rose by 2.18 pct followed by healthcare 1.79 per cent, IT 1.78 per cent, teck 1.68 per cent, telecom 1.57 per cent, FMCG 0.76 per cent, oil&gas 0.67 per cent and energy 0.65 per cent, while auto fell by 1.07 per cent followed by capital goods 0.79 per cent and industrials 0.42 per cent. (PTI)