Sensex logs best fiscal year gain since 2009-10

Mumbai: Registering a hefty rise of 25 percent in 201415, benchmark Sensex on Tuesday capped its best show in six fiscal years mainly driven by surge in foreign inflows after the Narendra Modiled government took charge.

For the day, however, the BSE Sensex settled in the red after giving up early gains to end the fiscal year marginally down by 18.37 points at 27,957.49.

The broader market sentiment remained strong as smallcap and midcap counters outshined the Sensex by 0.31 percent and 0.88 percent, respectively.

“It was a mixed trading session for the sectoral indices, where oil & gas and healthcare managed to gain close a percent each, while rest ended flat to marginally in red,” said Jayant Manglik, Presidentretail distribution, Religare Securities.

For the month, the Sensex fell 4.8 percent, its worst monthly show since February 2013.

The broadbased 50issue NSE Nifty today eased by 1.30 points or 0.02 percent to close at 8,491.

After markets closed for the day, government data showed growth in eight core sector industries slowed down to 1.4 per cent in February.

During the fiscal 201415, Sensex has gone up by 5,571.22 points, or 24.88 percent to 27,957.49 from 22,386.27 on March 31, 2014. The gauge had touched alltime high of 30,024.74 on March 4 this year.

On similar lines, the NSE’s Nifty zoomed by 1,786.80 points, or 26.65 percent, to settle the fiscal at 8,491 after scaling lifetime high of 9,119.20 on March 4 this year.

For the day, Refinery stocks were in the limelight after a brokerage firm upgraded Reliance Industries (RIL) stock to overweight from underweight and also further fall in global crude oil prices.

HDFC Bank, ICICI Bank, Axis Bank, SBI, L&T, BHEL, ONGC, ITC, Infosys, TCS, M&M, and Hindalco suffered losses. RIL, Tata Motors Sun Pharma, Dr Reddy’s, Maruti Suzuki, Bharti Airtel and Tata Power notched noticeable gains.

Meanwhile, mixed Asian cues, weak European trends and sustained capital outflows also weighed on the local bourses.

Indian companies raised a staggering Rs 58,801 crore through equity markets in the financial year that ended today the best funds mopup since 201011 fiscal.

In overseas markets, Asian markets closed mixed, after Beijing announced new policy moves to revive property market.

Key indices from China, Japan and Singapore closed with losses while from Hong Kong, South Korea and Taiwan ended up.

European stocks reversed their initial gains and were trading lower in late morning deals. The CAC was down by 0.07 percent, the DAX by 0.27 percent and the FTSE by 0.49 percent.

Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth a net Rs 240.34 crore while Domestic Institutional Investors (DIIs) bought shares worth a net Rs 651.67 crore yesterday, as per provisional data.

Among 30share Sensex pack, ONGC dropped by 2.51 percent, Tata Steel 1.72 percent, Hindalco 1.71 percent, BHEL 1.53 percent, HDFC Bank 1.32 percent and M&M 1.06 percent.
However, Tata Power rose by 3.42 percent, followed by Gail 2.37 percent, Dr Reddy’s Lab 1.91 percent, Tata Motors 1.85 percent, Reliance Industries 1.77 percent, HUL 1.25 percent, Cipla 1.24 percent and Sun Pharma 1.14 percent.

From sectoral BSE indices, BSE Bankex moved down by 0.81 percent and Capital Goods by 0.49 percent while Oil & Gas rose by 1.18 percent.

Reflecting the rally in secondline stocks, the market breadth remained positive as 1,588 stocks ended in the green while 1,132 closed in the red and 113 held stable.

Total equity turnover rose to Rs 2,980.16 crore from Rs 2,552.45 crore yesterday.

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