Seeking Consolidation Market Ends With Minuscule Gains

Key benchmark indices closed marginally positive amid consolidation as investors booked profits in bluechips at higher levels. 

However, the losses in private banking shares after government decided to keep banks out of the composite foreign investment offset the gains in technology and healthcare stocks.

The broader markets outperformed the benchmark indices- BSE Midcap and Smallcap indices were up 0.2-0.4%.

In the currency space, the Indian rupee recovered by 3 paise to 63.48 against the US dollar on fresh selling of the American currency by exporters amid increased foreign capital inflows.

The 30-share Sensex closed higher by 17.19 points at 28,463.31 and 50-share Nifty gained 1.80 points at 8,609.85.

Crompton Greaves rose 2.59%, after the company said it signed a new contract to provide ZIV protections to Saudi Electricity Company. 

Delta Corp rose 4.61%, after the company reported consolidated net profit of Rs0.10 crore in Q1 June 2015 as against net loss of Rs19.57 crore in Q1 June 2014. 

MindTree rose 3.26%, after consolidated net profit rose 7.4% to Rs138.20 crore on 6.9% growth in revenue to Rs981.60 crore in Q1 June 2015 over Q4 March 2015. 

FAG Bearings India rose 3.02%, after net profit rose 20.8% to Rs49.27 crore on 10.5% growth in net sales to Rs428.77 crore in Q1 June 2015 over Q1 June 2014.

The market breadth stood in favour of advances. Of the 2969 stocks traded on the BSE, 1424 (47.96%) rose, 1406 (47.36%) fell and 139 (4.68%) stocks remained unchanged.

Among the sectoral indices- Top Gainers: S&P BSE CD up 1.92%, S&P BSE TECk up 0.99% and S&P BSE Power up 0.96%. Top Losess: S&P BSE Realty down 0.50% and S&P BSE Metal down 0.45% and S&P BSE Bankex down 0.38%

Among 'A' group stocks, top three gainers were - Den Networks up 14.48%, Punj Lloyd up 8.68% and Rajesh Exports up 7.21%. Top three losers were - Kailash down 6.47%, PMC Fincorp down 4.57% and Gateway Distriparks down 3.12%

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