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( 13 Jun 2018)
Sensex surges 119 points; US Fed policy eyed

Indian benchmarks continued to trade higher during the noon trading session as investors eyes Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore.

With the Federal Reserve virtually guaranteed to raise interest rates this week, investors are focused on how the US central bank characterises its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion.

At 13:25 hours, the 30-share benchmark index was trading at 35812.06 up by 119.54 points or by 0.33 per cent, while the NSE Nifty was at 10875.9 up by 33.05 points or by 0.3 per cent.

In the positive trade so-far, Sensex touched intraday high of 35877.41 and intraday low of 35715.96 The NSE Nifty touched intraday high of 10888.9 and intraday low of 10842.65.

The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2276.10,+3.92%), Tata Consultancy Services Ltd. (Rs. 1827.25,+2.60%), Axis Bank Ltd. (Rs. 547.35,+1.97%), Sun Pharmaceutical Industries Ltd. (Rs. 551.00,+1.94%), Power Grid Corporation of India Ltd. (Rs. 199.00,+1.69%), among others.

The top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 568.55,-1.94%), Hindustan Unilever Ltd. (Rs. 1623.00,-1.06%), Bharti Airtel Ltd. (Rs. 377.50,-0.93%), Oil And Natural Gas Corporation Ltd. (Rs. 169.95,-0.82%), HDFC Bank Ltd. (Rs. 2030.00,-0.72%), among others.

Among the sectors, IT index was at 13860.52 up by 197.45 points or by 1.45%. Genesys International Corporation Ltd. (Rs. 223.00,+4.35%), Cerebra Integrated Technologies Ltd. (Rs. 61.50,+3.97%), Aurionpro Solutions Ltd. (Rs. 213.50,+3.64%), Intense Technologies Ltd. (Rs. 71.00,+2.60%), Tata Consultancy Services Ltd. (Rs. 1827.25,+2.60%),.

On the flip side, CGS index was at 18685.41 down by -71.35 points or by -0.38%. Sadbhav Engineering Ltd. (Rs. 330.50,-2.07%), Bharat Electronics Ltd. (Rs. 118.85,-2.02%), CG Power and Industrial Solutions Ltd. (Rs. 56.80,-1.73%), Carborundum Universal Ltd. (Rs. 334.15,-1.43%), Kalpataru Power Transmissions Ltd. (Rs. 438.10,-1.37%),..

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2755 , shares advanced were 1418 while 1195 shares declined and 142 were unchanged.