Sensex rises 170 pts, Nifty above 11,727; Pharma stocks in focus
22/05/2019 10:55
The Indian benchmark indices continue to trade flat with positive bias in morning session ahead of the Lok Sabha 2019 election results to be declared on May 23. Among sectors, Realty, Bank, Financial service and Pharma are trading high where as Metal and FMCG are in loss. Oil prices dropped after the increase in US crude inventories and as Saudi Arabia assured to keep the supply balanced. The rupee is trading 5 paise higher at 69.77 against US dollar. Among individual shares, the shares of DLF rose nearly 4 per cent after the company reported strong earnings for the quarter ended March 2019 whereas the shares of Dewan Housing Finance Ltd (DHFL) dropped 17 per cent after the company said that it will not accept fresh public deposits and renewals of existing deposits with immediate effect.

At 10:24 hours, the SENSEX was trading at 39140.15 up by 170.35 points or by 0.44 per cent and then NSE Nifty was at 11727.6 up by 18.5 points or by 0.16 per cent. The BSE Sensex touched intraday high of 39160.22 and intraday low of 38903.87 The NSE Nifty touched intraday high of 11753.9 and intraday low of 11682.4.

The top gainers of the BSE Sensex were Sun Pharmaceutical Industries Ltd. (Rs. 416.35,+1.87%), Oil And Natural Gas Corporation Ltd. (Rs. 177.40,+1.78%), Housing Development Finance Corporation Ltd. (Rs. 2144.55,+1.44%), ICICI Bank Ltd. (Rs. 406.10,+1.44%), Kotak Mahindra Bank Ltd. (Rs. 1508.10,+1.41%), among others. On the other hand, the top losers of the BSE Sensex were YES Bank Ltd. (Rs. 137.15,-2.73%), IndusInd Bank Ltd. (Rs. 1418.75,-1.99%), ITC Ltd. (Rs. 301.00,-1.41%), Hindustan Unilever Ltd. (Rs. 1761.00,-1.26%), Tata Consultancy Services Ltd. (Rs. 2093.00,-0.77%), among others.

Among sectors, Oil&Gas index was at 15230.97 up by 125.64 points or by 0.83%. Oil And Natural Gas Corporation Ltd. (Rs. 177.40,+1.78%), Bharat Petroleum Corporation Ltd. (Rs. 380.90,+1.65%), Hindustan Petroleum Corporation Ltd. (Rs. 289.35,+1.49%), Reliance Industries Ltd. (Rs. 1357.05,+1.29%), Oil India Ltd. (Rs. 183.70,+1.02%),. On the flip side, Metal index was at 10583.29 down by -53.53 points or by -0.5%. Jindal Steel & Power Ltd. (Rs. 146.85,-9.99%), JSW Steel Ltd. (Rs. 274.55,-1.86%), Steel Authority of India (SAIL) Ltd. (Rs. 49.60,-1.68%), Hindustan Zinc Ltd. (Rs. 253.30,-0.71%), Tata Steel Ltd. (Rs. 471.50,-0.42%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1891 , shares advanced were 866 while 918 shares declined and 107 were unchanged.