March 19, 2013

Market Pulse - 18 Mar, 2013

Mon, Mar 18, 2013 at 09:30 AM
Markets opened weak tracking weak global cues.
Markets opened on a very weak note, tracking weak cues from Asian markets and also all eyes are on RBI policy review announcement which is scheduled for Tuesday. Sensex is down 184.56 points or 0.95% at 19,243, after opening down by 144.93 points or 0.75% at 19,282.63, while Nifty is down by 49.60 points or 0.84% at 5,823, after opening down by 55.85 points or 0.95% at 5,816.75.

Sector wise, Realty index slumped by 2%, Bankex and PSU are trading weak down by 1.50% each, while FMCG is marginally trading positive up by 0.30%. In broader markets, both the indices Mid-cap and Small-cap declining by 0.70% and 0.40% each.

Major stock movers are, Hindustan Unilever gaining up by 0.80%, Cipla Limited and Sun Pharmaceuticals are too marginally positive, Coal India Limited slumped by 4.70%, Bharti AIrtel declining by 2.30%, Sterlite Industries Limited, Tata Power Company and Tata Steel Limited too were trading weak.

Coal India Limited declining by 4.70%, on reports that the government is offloading 10% equity through share sale of Rs 20,000 crore, to meet half of the disinvestment target for the fiscal year 2013-14.

Bharti Airtel dropped by 2.30%, after reports that DoT (Department of Telecommunication) has asked the company to stop 3G services with in 3 days in the circles it dose not have the required licences.

Kingfisher Airlines has dipped 0.5% at Rs 9.45., after reports of the Karnataka High Court urging the UB Group comprising of UB Holding and Kingfisher Airlines to come up with a concrete plan to pay dues worth around Rs 330 crore towards a clutch of aircraft lessors.

Overall market breadth is negative with 864 shares declining compared to 435 shares advancing.

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