Market Pulse - 6 Jun, 2013

Thu, Jun 6, 2013 at 16:00 PM

Markets closed tad weak, led by index heavy weight.

Markets opened weak in the morning and traded almost subdued till in late noon when markets gained momentum and stroked the days' high but could not sustain the gains and slipped again and ended the day in negative, led by index heavy weights. Sensex closed down by 48.73 points or 0.25% at 19,519.49 after opening weak down by 64.54 points or 0.33% at 19,503.68 and touched a high of 19,635.37 and a low of 19,395.32 while Nifty closed down by 2.45 points or 0.04% at 5,921.40 after opened negative down by 28.85 points or 0.49% at 5,895 and touched a high of 5,956.55 and a low of 5,869.50 in the day.

Sectoral wise, barring for Bankex and Realty indices which managed to close positive up by 0.90% 0.47% all other indices closed weak with Healthcare index leading the list dropped by 1.22% follwed by Oil & Gas, Consumer Durables, Power and Metal indices declined between 1%-0.50%, IT and FMCG fell up by 0.41% and 0.20%, PSU and Capital Goods down by 0.17% and 0.09% while Auto index ended almost flat positive up by 0.05%. In Broader markets both the indices Mid-cap and Small-cap ended marginally up by 0.12% and 0.15% respectively.

Major stock gainers were, ICICI Bank Limited, Wipro Limited, and Maruti Suzuki rose between 2%-1% each, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Hindalco Industries Limited gained between 1%-0.20%, Hindustan Unilever inched up by 0.10% while HDFC almost falt up by 0.02%.

Major stock losers were, Bharti Airtel Limited dropped by 2.17%, Sun Pharmaceuticals, NTPC, Infosys, Tata Steel Limited, Hero Motocorp, BHEL, Dr Reddys Laboratories, Sterlite Industries Limited, Gail (India) and Reliance Industries Limited slipped between 2%-1%, Tata Power Company, Jindal Steel & Power Limited, HDFC Bank Limited and Bajaj Auto fell between 1%-0.50%, ONGC and Tata Motors Limited declined by 0.17% and 0.16% while Cipla Limited and Coal India Limited tad down by 0.05% and 0.02%.

Reliance Industries Limited declined down by 1.03%. In the company's AGM, Mr. Mukesh Ambani stated that RIL's business impacts several sectors of national importance and the companys investment will help boost countrys growth. According to Mukesh Ambani, RIL is key to the country's economic growth and country's future lies in the energy space.

Shree Ganesh Jewellery (SGJHL) surged up by 5.70%, after the company announced that the board has allotted 58,00,000 equity shares at Rs 150 per share (which includes a premium of Rs 140 per share) to the promoters/promoter group.

Deccan Chronicle spurted up by 13.61%, after the company reported a net profit of Rs 14.82 crore for the fourth quarter ended on March 2013, compared to a loss of Rs 2.21 crore in the previous quarter (Sep-Dec 2012).

Overall market breadth was almost neutral with 1,198 shares declined compared to 1,143 shares advanced while 161 shares remained unchanged.