July 16, 2013

Market Pulse - 16 Jul, 2013

Market Update
Markets after opening negative, traded almost weak but managed to gain a bit before closing, after RBIs (Reserve Bank of India) move to reduce rupee liquidity and an increase in short-term rates faded the hopes of rate cut. Sensex closed down by 183.25 points or 0.91% at 19,851.23 after opening firm negative down by 246.39 points or 1.23% at 19,788.09 touched a high of 19,890.63 and low of 19,649.58 while Nifty ended down by 75.55 points or 1.25% at 5,955.25 after weak opening down by 100 points or 1.66% at 5,930.80 touched a high of 5,966.05 and a low of 5,910.95 for the day.

Sectoral wise, FMCG index surged up by 1.81% and Oil & Gas gained up by 0.74%, Realty index dropped by 5.84, Bankex slipped by 4.83%, Capital Goods declinedd by 2.23%, Metal, Consumer Durables and PSU fell between 2%-1%, Auto, Healthcare and IT fell betwen 1%-0.20% while Power almost flat down by 0.03%. E ven the Broader markets, slipped in line with its benchmark index, Mid-cap dropped by 1.45% while Small-cap closed down by 0.79%.

Major index stock gainers were, ITC and Bharti Airtel gained up by 2.30% and 2.08%, Hindustan Unilever, ONGC, Sun Pharmacuticals and Tata Motors advanced up between 2%-1%, Tata power, NTPC, RIL, Coal India and TCS gained up between1%-0.40% while Gail (India) and Bajaj Auto edged up by 0.17% and 0.15%.

Major index stock losers were, ICICI Bank slipped by 5.61%, SBI dropped by 4.57%, HDFC, L&T, Jindal Steel, Sterlite Inds and Dr Reddys Lab fell between 4%-3%, Maruti Suzuki, HDFC Bank and Tata Steel down between 3%-2%, Hero MotoCorp, BHEL, Wipro, Hindalco Inds, Mahindra & Mahindra and Cipla fell between 2%-1% while Infosys marginally down by 0.42%.

Overall market breadth was firm negative with 1,443 shares declined as compared to 847 shares advanced while 142 shares remained unchanged.

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