The market breadth continued to remain strong with 1,392 gainers and 1,064 losers on the BSE.
The rupee is trading at 60.39 compared to its previous close of 60.36. However, gains in the domestic share market may, however, limit a sharp fall in the rupee.
In Asia, Tokyo’s Topix stalled just short of its January peak. Chart resistance is tough as a break there would take it to levels last seen in July 2008.
Chinese stocks extended their bull run with the CSI300 of the leading Shanghai and Shenzhen A-share listings barreling to their best in over eight months.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased back 0.6 percent having already reached its loftiest level since early 2008.
Sectors & Stocks:
On the sectoral front, Oil and Gas index is leading the rally up by 0.6% followed by Realty, Capital Goods and Metal indices up by 0.5%. However, Auto, FMCG, Power and Healthcare indices are losing sheen on the BSE. Moreover, Bankex is trading lower by 0.4%
Power stocks are trading dim with Tata Power and NTPC down between 0.3-1%.
Bharti Airtel has lost over 1.4%.
In the financial segment, HDFC, ICICI Bank and Axis Bank have lost between 0.5-1% on profit taking.
Coal India, Hero Motocorp and Maruti Suzuki are some of the notable names in red among others and have lost between 0.3-2%.
Engineering conglomerate L&T has climbed over 1% after the company secured a turnkey order worth Rs 5,100 crore for setting up a 1320 MW supercritical thermal power plant project at Shree Sinaji TPP (Stage-II) on complete engineering-procurement construction basis from the state utility MP Power Generating Company Limited (MPPGCL) .
Hindalco, SBI and Baja Auto are some of the prominent names in green among others.
Among other shares, Union Bank of India has gained nearly 2% to Rs 215 after the company plans to raise Rs 1,386 crore through qualified institutional placement (QIP) this financial year, its chairman and managing director Arun Tiwari said.
JP Associates has extended losses for the second consecutive day and has dipped by over 3% at Rs 36.50 after Jaypee Infra Ventures sold over 13 million shares on the National Stock Exchange on Thursday.