Indian equity market continued its northward momentum for the 6th consecutive day after the surprise rate cut by RBI, meanwhile market moved in small range but remained positive throughout the day. Broad based index Sensex ended the day at 28,888.86 surged by 104.19 points or 0.36% and Nifty wrapped up the today’s trading session at 8,729.50 up by 33.90 points or 0.39%.
ITC fell after the FMCG major’s cigarette volume growth failed to meet Street estimates.ITC, India’s biggest cigarette maker, reported over 10 per cent year-on-year(y-o-y) jump in its net profit to Rs 2,635 crore for the quarter ending December 31, 2014. Revenues for the quarter stood at Rs 8,800 crore against Rs 9,675 crore estimated by analysts poll. Cigarette sales, which contributes nearly 50 per cent to the overall revenues remained flat at Rs 4,142 crore.
The rupee strengthened by 6.5 paise to 61.6250 against the US dollar in trade today, extending its rising streak for the fifth straight day at the foreign exchange on selling of the US currency by exporters and banks.
Among the Sectorial indices on NSE, CNX PSU BANK led the gainers list by surging 2.45%. CNX IT (1.01%) and CNX FINANCE (0.69%) are other top gainer. While CNX FMCG (-1.98%) was the biggest loser followed by CNX MEDIA (-1.29%) and CNX METAL (-0.66%).
The market breadth on the NSE was negative as 750 stocks were declining as against 483 stocks advancing and 49 remain unchanged.
Out of 50 stocks of Nifty 29 were advanced while 21 declined.
Top 5 Nifty Gainers: HUL (5.35%), BOB (3.77%), BHARTI AIRTEL (3.76%), PNB (3.35%) and HDFC (3.08%)
Top 5 Nifty Losers: ITC (-5.21%), CIPLA (-2.93%), ZEEL (-2.30%), SESA STERLITE (-2.25%) and NMDC (-1.92%)
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