July 12, 2013

Market Pulse - 12 Jul, 2013

Market Update
Markets after opening gap up in the morning slipped down marginally and traded almost in a range till late noon when the markets started to consolidate gains and closed at days high, amid reports of narrowing trade deficit in June 2013 to $12.24 billion from a 7-month high and also Infosys Q1 result impoved the sentiments. Sensex ended the day firm up by 282.41 points or 1.44% at 19,958.47 after opening gap up by 222.63 points or 1.13% at 19,898.69, touched a high of 19,985.55 and a low of 19,785.59 while Nifty also ended firm up by 73.90 points or 1.25% at 6,009 after opening gap up by 65.40 points or 1.10% at 6,000.50, touched a high of 6,019 and a low of 5,951.15 for the day.

Sectoral wise, IT index surged higher by 6.53%, Capital Goods rose up by 2.05%, Healthcare gained up by 1.23%, Oil & Gas, Bankex and Power gained between 1%-0.60%, and Metal advanced up by 0.23%, Consumer Durables dropped by 1.09%, Realty and PSU fell by 0.46% and 0.37% while FMCG and Auto slipped marginally by 0.18% and 0.12%. In the Broader markets, Mid-cap index almost flat up by 0.02% whereas Small-cap ended marginally weak down by 0.18% compared to benchmark index respectively.

Major index stock gainers were, Infosys jumped up by 10.92%, Wipro spurted up by 3.29%, TCS, L&T, Dr Reddys Lab, Tata Motors and RIL surged between 3%-2%, HDFC Bank, Bharti Airtel, NTPC, Cipla, Tata Power and Sun Pharmaceuticals gained between 2%-1%, BHEL, Sterlite Inds, Tata Steel, Hero MotoCorp, Coal India, ICICI Bank, Gail (India) and Jindal Steel gained up between 1%-0.20% while Hindustan Unilever advanced marginally by 0.08%.

Major index stock losers were, Maruti Suzuki dropped by 3.58%, ONGC slipped down by 2.72%, Mahindra & Mahindra and Hindalco Inds fell by 1.38% and 1.12%, ITC, SBI and Bajaj Auto down between 1%-0.40% while HDFC down by 0.38%.

Infosys jumped up by 10.92%, after reporting a better-than-expected consolidated net profit at Rs 2,374 crore for the first quarter ended June 2013 (Q1). Analyst on an average had expected profit of Rs 2,296 crore from the IT major.

Sintex Industries dropped down by 4.06%, after reporting  a 10% drop year-on-year (y-o-y) in the consolidated operating profit at Rs 161 crore for the quarter ended on June 2013, due to higher depreciation and interest cost, which had an operating profit of Rs 178 crore in a year ago quarter.

Overall market breadth was a bit negative with 1,226 shares declined compared to 1,073 shares advanced while 148 shares remained unchanged.

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