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BSE Sensex gains for 5th straight session, IT and Healthcare stocks gain

Feb 28 2014, 17:12 IST
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BSE Sensex closed 0.63% or 133.13 points higher at 21,120.12 points. BSE Sensex closed 0.63% or 133.13 points higher at 21,120.12 points.
SummaryBSE benchmark Sensex closed 0.63% or 133.13 points higher at 21,120.12 points.

Markets posted gains for 5th consecutive session on Friday ahead of the GDP data. The BSE Sensex

closed 0.63% or 133.13 points higher at 21,120.12 points, while the NSE's Nifty closed 38.15 points or 0.61% higher at 6,276.95 points.

Experts expect India's GDP to improve, going ahead. "After reviewing various growth indicators, we think the headwinds buffeting India’s economy might be easing at the margin, as some of the bottlenecks in key industries are being cleared. While this may not be a conclusive signal of stronger activity, we think these improvements could play a catalytic role in facilitating a recovery in growth in FY 14-15," Barclays said in a recent research note.

India’s economy in the third quarter of the current fiscal is likely to grow by more than 5%, Prime Minister’s Economic Advisory Council chairman C Rangarajan said on Wednesday.

Among sectoral indices, the BSE IT (1.44%), BSE Metal (0.99%) and BSE Healthcare (2.27%) were the major gainers. Among individual stocks, Hindalco (6.86%), Tata Motors (4.15%) and TCS (4.14%) were the major gainers on the 30-share Sensex.

Among Asian indices, Hang Seng (0.04%), Kospi (0.08%) and Straits Times (0.45%) ended in the green. While, the Nikkei (-0.55%) ended in the red. On Thursday, US Fed chairperson Janet Yellen in her testimony before the US senate said that the Central bank is likely to continue with QE tapering.

Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities

Global markets remained finished mixed for the week. While US indices ended in the green, the European and Asian indices closed in the flat to negative. Sensex ended the week on a firm note. Among the sectors, capital goods stood out with a gain of 5% plus. Metals and Realty sectors remained subdued. Among individual stocks, Polaris performed strongly on reports of Fiserv taking a strategic stake in the company. On the other hand, NTPC was down over 13% for the week on the back of adverse revision in regulations. Going ahead, the markets would continue to follow developments on the political scene and geopolitical developments in Ukraine.

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