Market Pulse - 13 May, 2013

Mon, May 13, 2013 at 15:30 PM

Markets closed lower amid profit booking.

Markets after opening weak in the morning trumbled down further and closed firm negative, amid profit booking in index heavy weights. Sensex ended the down by 430.65 points or 2.14% at 19,691.67 after opening down by 48.91 points or 0.24% at 20,073.41 and touched a high of 20,109.08 and a low of 19,667.39 while Nifty closed down by 126.80 points or 2.08% at 5,980.45 after opening down by 9.05 points or 0.15% at 6,098.20 and touched a high of 6,104.95 and a low of 5,972.90 in the day.

Sectoral wise, all indices closed negative, with FMCG, Capital Goods and Metal indices dropped by 3% each, Auto, PSU, Oil & Gas, IT, Consumer Durables, Healthcare, Bankex, Power and Realty fell between 1-2%. From broader markets, Mid-cap index plunged by 1.45% and Small-cap index slipped by 1.17%.

Major stock losers were, ITC plunged by 5.31%, Tata Steel and Bharti Airtel slumped by 4.22% and 4.14%, Tata Motors Limited dropped by 3.27%, Larsen & Toubro, Gail (India) BHEl, Sterlite Industries, Bajaj Auto Limited, Tata Consultancy Services, ONGC and Coal India declined between 3%-2%, Jindal Steel & Power Limited, Cipla Limited, Wipro Limited, Hero Motocorp, Maruti Suzuki, Hindalco Industries, ICICI Bank Limited, HDFC, HDFC Bank Limited, Reliance Industries Limited,  Tata Power Company, Mahindra & Mahindra and State Bank of India fell between 2%-1%, Infosys, Sun Pharmaceuticals, Hindustan Unilever and Dr Reddys Laboratories were down between 1%-0.30% while NTPC was marginally down by 0.16%.

Cochin Minerals and Rutile crashed by 18%, on reports of net loss of Rs 1.19 crore for the quarter ended on March 2013.

JK Cement plunged by 7%, after it reported a fll of 30% year-on-year in standalone net profit at Rs 56.20 Crore for the quarter ended on March 2013.

Elder Pharmaceuticals closed down locked in lower circuit of 10%, extending its four day fall, after the institutinal investors sold its stake in open market.

Overall market breadth was firm negative with 1,540 shares declined compared to 810 shares advanced while 106 shares remained unchanged.