Indian equity market indices continued their winning streak for the third day in a row. Both Nifty and Sensex traded in a very narrow range and remained flat after hitting 30 month fresh high since January 2011. 50 shares index Nifty closed at 6169 up by 23 points or 0.38% and touched a high of 6187 in trade today while Sensex closed at 20247 up by 34 points or 0.17% and touched a high of 20325.
Shares of Banks, Realty, Auto, Pharma and Capital goods were in the radar of the buyers and closed with smart gains. Interest rate sensitive shares continued their momentum in the hopes of interest rate cut by RBI. IT companies shares fell down after the two key amendments that would have helped Indian IT firms were rejected by the Judiciary Committee of the US Senate. The first dealt with removing of damaging H1B clauses, while the second proposal included green card applications.
Reliance Capital’s fourth quarter consolidated net profit fell by more than 20 percent to Rs 265 crore compared to Rs 329 crore a year ago. Bajaj Auto's fourth quarter net profit slipped lower-than-expected 1 percent year-on-year to Rs 766 crore, amid sluggish demand for two-wheelers.
Among the sectoral indices CNX Realty (1.85%), CNX Energy (1.27%) and CNX Pharma (1.25%) were top gainers while CNX IT (-1.06%) was the biggest loser.
Out of 50 stocks of Nifty 29 stocks ended in green while 21 ended in red.
Top 5 Nifty gainers: JP Associates (5.80%), IDFC (3.61%), Sesagoa (2.99%), LUPIN (2.94%) and CIPLA (2.75%) were among top index gainers.
Top 5 Nifty losers: NMDC (-2.92%), Tata Motors (-1.86%), Jindal Steel (-1.58%), ITC (-1.53%) and Bajaj Auto (-1.41%) were top losers.
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