Market Pulse - 3 May, 2013

Fri, May 3, 2013 at 17:30 PM

Markets closed lower, post RBI's policy.

Markets opened slightly negative in the morning and drifted down further and ended the day lower near the day's low, amid profit bookings in rate sensitive sectors after RBI announed its monetary policy. In it's policy review Reserve Bank of India reduced the repo rates by 25 basis points to 7.25% and left the CRR (Cash Reserve Ratio) unchanged at 4% and also hinted towards a little room for future policy easing. Sensex closed down up by 160.13 points or 0.81% at 19,575.64 after opening negative down by 27.82 points or 0.14% at 19,707.95 and touched a high of 19,744.85 and a low of 19,542.63, while Nifty closed down by 55.35 points or 0.92% at 5,944 after opening down by 5.85 points or 0.10% at 5,993.50 and touched a high of 6,000.30 and a low of 5,930.15 in the day.

Sectoral wise, Metal index surged up by 1.44%, Capital Goods gained up by 0.92%, IT advanced up by 0.44%, and Healthcare gained up by 0.22%. Bankex dropped by 2.40%, PSU, Auto, Realty and Consumer Durables fell between 2%-1% each, Oil & Gas down by 0.99%, Power fell by 0.59%, and FMCG slipped by 0.35%. While in broader markets both the Mid-cap and Small-cap index declined down by 0.26% and 0.39% respectively.

Major stock gainers were, Jindal Steel & Power Limited spurted up by4.22%, Hindalco Industries and Tata Steel Limited gained up by 2.30% and 2.22%, Sun Pharmaceuticals, Sterlite Industries and Larsen & Toubro gained between 2%-1%, Infosys and Wipro Limited up by 0.91% and 0.88%, Mahindra & Mahindra up by 0.43%, Bharti Airtel up by 0.32% Coal India Limited up by 0.28% and Hindustan Unilever almost flat up by 0.01%.

Major stock losers were, Tata Motors, State Bank of India and ICICI Bank dropped between 3.80%-3.50%, Gail (India) and Bajaj Auto dropped by 2.99% and 2.56% each, Cipla Limited, HDFC Bank, ONGC and HDFC declined between 2%-1% each, Maruti Suzuki, ITC, Tata Consulancy Services, Tata Power Company and NTPC fell between 1%-0.50%, Dr Reddys Laboratories down by 0.41%, Reliance Industries Limited declined by 0.19%, Hero Motocorp down by 0.18% and BHEL tad down by 0.10%.

Reliance Communication surged up by 4.85%, extending its month long rally, after the company signed Rs 1,200 crore agreement with Reliance Jio Infocomm to share its optic fibre netwon an April 2, 2013.

Adani Ports and Special Economic Zone spurted up by 6.19%, after the Union Home Ministry cleared the security clearance to bid for the port projects in the country.

Overall market breadth was negative with 1,339 shares declined compared to 1,027 shares advanced while 137 shares remained unchanged.