Sensex continues winning streak

The Sensex ended flat after recovering from the lower levels to continue its winning streak for the fourth day.  

The Asian markets ended on a mixed note today. Hang Seng ended 145 points lower, a pull back from the previous session's 13-month high on concern that gains were overstretched. The Shanghai Composite Index tumbled 3.19% below the psychological 3,000-point level. It fell 0.9% this week, snapping last two weeks' gains.

The Sensex opened 61 points lower today taking subdued cues from the global markets. The index rebounded but could not hold on to the gains. Thereafter, the index exhibited a lacklustre movement till noon trades before plunging into negative territory again to touch a low of 16,610 points. However, the Sensex gained as buying activity resumed and touched an intra-day high of 16,765, up 155 points from day's low. The index finally closed at 16,741, up 30 points.

Alex Mathews Head, Research Centre – Geojit BNP Paribas Financial Services said, "The initial slide was due to the lack of support from the global front but buying interest in auto and cement stocks limited losses. Selling pressure or profit booking in the banking stocks trimmed the gains made earlier. In the afternoon session, positive turn around seen in the European markets helped the markets to recover from the day’s low but the investors were not creating long positions ahead of a long weekend.The monsoons are picking up and the assurance from the Central Bank that there won’t be a sudden spike in the interest rates all add to the markets strength. Nifty is having support at 4,882 and 4,819 levels while the major resistance is there at 4,987 and 5,050 levels."

The NSE Nifty ended at 4,976, up 10 points. The index touched an intra-day high of 4,981 and a low, 4,932.

The market breadth was positive - out of 2,855 stocks, 1,438 advanced, while 1,337 declined.

Among the sectoral indices, auto index added over 2%. Realty index gained 1.29%.

INDEX MOVERS...

Maruti Suzuki surged over 5% to Rs 1,641. Reliance Infrastructure soared 4.5% to Rs 1,243.

Jaiprakash Associates rallied nearly 4% to Rs 257. Bharti Airtel, ACC and DLF advanced around 2% each to Rs 442, Rs 845 and Rs 428, respectively.

Mahindra & Mahindra, SBI and Grasim added 1.5% each to Rs 885, Rs 2,142 and Rs 2,811, respectively.

Hindalco was up over 1% to Rs 138.

Among the Nifty stocks, Reliance Power surged nearly 5% to Rs 172. Ranbaxy and BPCL added 2.5% and 2%, respectively.

...AND THE SHAKERS

The second biggest index heavyweight by market valuation ICICI Bank acted as a drag as the stock fell 3.5% to Rs 840.

Sun Pharma, Reliance Communications and Sterlite declined 1.5% each to Rs 1,201, Rs 306 and Rs 762, respectively. Tata Motors ended down over 1% to Rs 599.

VALUE & VOLUME TOPPERS...

SBI led the combined value chart with a turnover of Rs 1,034 crore. It was followed by Jaiprakash Associates (Rs 856.6 crore), Reliance (Rs 777.67 crore), Tata Steel (Rs 733.93 crore) and Unitech (Rs 550.61 crore).

Ispat Industries topped the combined volume chart with trades of over 72.97 million shares, followed by Unitech (49.58 million), Reliance Natural Resources (40.93 million), First Source (37.65 million) and Suzlon (37.41 million).