Market Pulse - 5 Aug, 2013

After eight consecutive losing streaks markets broke the jinx and managed to closed the day marginally higher after paring intraday gains amid volatile trading session led by Metal sector shares and index heavy weight ITC and Reliance Industires. S&P BSE Sensex ended at 19,182.26, marginally up by 18.24 points, or 0.10%. It touched a high of 19,306.51 and a low of 19,141.68 in intraday while CNX Nifty index closed at 5,685.40, tad up by 7.50 points, or 0.13%. It touched a high of 5,721.00 and a low of 5,661.50 today.

Among sectoral indices, Capital Goods index closed 3.6% lower, followed by Power index, which slipped 1.09%, Consumer Durable index fell by 0.50% and Realty index down 0.32%. Metal index closed 2.70% higher, followed by IT index 1.01% and Bankex index gaining up by 0.92%. BSE Midcap and Smallcap indices gained by 0.3%.

Majors index gainers were, ITC gained by 1%, RIL ended marginally positive, Sterlite, JSPL and Tata Steel gained between 1-8%. Other notable gainers were NTPC, Hero Moto, Wipro, ICICI Bank and TCS.

Major index losers were BHEL crashed by 19.08%, Tata Motors fell by 2.01%, Bharti Airtel slipped by 2.30%, L&T fell by 1.90% and Bajaj Auto down by 1.70%.

The HSBC/Market Purchasing Managers' Index (PMI) for the services industry stood at 51.3 in July, unchanged from June and just a whisker above a 20-month low of 51.1

Bharat Heavy Electricals Limited (BHEL) crashed by 19.08%, after it reported a sharp fall by 50% year-on-year in its net profit at Rs 465 crore for the first quarter ended June 30, 2013 (Q1), amid lower sales. It had a net profit of Rs 921 crore in the year-ago in the same period.

Shares in Financial Technologies (India) Ltd rose 31% at Rs 198 in volatile trading after slumping 73% over the previous two sessions. Financial Technologies shares had slumped last week to a record low after commodities exchange unit National Spot Exchange Ltd (NSEL) suspended trading in most one-day forward contracts.

The Overall market breadth in remained marginally negative with 1,128 shares declining and 1,077 shares advancing.