March 21, 2013

Market Pulse - 21 Mar, 2013

Thu, Mar 21, 2013 at 17:30 PM
Markets closed weak, amid profit booking.
Markets after opening up in the morning could not sustain its gain in the noon and closed lower, due to profit booking in Oil & Gas, Auto and FMCG sector amid weak European cues. Sensex closed down by 91.32 points or 0.48% at 18,792.87, after opening up by 42.02 points or 0.22% at 18,926.21 and striking a high of 19,028.09 and a low of 18,836.77, while Nifty closed down by 35.65 points or 0.63% at 5,658.75, after opening up by 11.50 points or 0.20% at 5,705.90 and touching a high of 5,757.75 and a low of 5,647.95 in the day.

Sectoral wise, barring Consumer Durables and IT indices which closed up by 0.78% and 0.27%, all other indices ended negative. Realty index slumped down by 2.91%, Power, Capital Goods and Auto indices dropped down by 2.38%, 2.30% and 2.23%, PSU and Oil & Gas declined by 1.19% and 1.18%, Metal down by 0.94%, Healthcare fell by 0.79%, FMCG down by 0.59% and Bankex down by 0.31%. In broader markets, both the indices Mid-cap and Small-cap dropped down by 1.07% and 1.23% respectively.

Major stock gainers were, Bharti Airtel spurted up by 5.99%, ICICI Bank Limited surged up by 3.35%, HDFC advanced up by 2.09%, Jindal Steel & Power Limited gaining up by 1.02%, Wipro Limited gained up by 0.99%, Mahindra & Mahindra advanced up by 0.67%, Infosys, Coal India gained and Tata Consultancy Services up by 0.25%-0.24% each, Gail (India) inched up by 0.19% while State Bank of India tad up by 0.11%.

Major stock losers were, Bajaj Auto Limited, Tata Motors Limited and Tata Power Company slumped by 4.61%, 4.22% and 4.06%, HDFC Bank Limited dropped down by 3.14%, Larsen & Toubro, Maruti Suzuki, Hindalco Industries and Tata Steel Limited dropped down between 3%-2% each, Hindustan Unilever, Hero Motocorp, Dr Reddys Laboratories, Cipla Limited, BHEL and Reliance Industries Limited fell between 2%-1% respectively, Sun Pharmaceuticals down by 0.98%, ONGC fell by 0.95%, NTPC fell by 0.90%, ITC down by 0.80% and Sterlite Industries down by 0.44%.

Ingersoll Rand (India) rallied by 6.80%, after the company inaugurated its greenfield manufacturing facility at the Mahindra World City, Chennai, yesterday.

HDIL (Housing Development and Infrastructure Limited) closed down by 2.16%, extending its last four-days fall, despite the company stating that it has not accepted the rating assigned by local rating agency for its non-convertible debentures (NCDs) and has submitted to review the same.

Overall market breadth was firm negative with 1,926 shares declined compared to 942 shares advanced, while 119 shares remained unchanged.

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