June 17, 2013

Market Pulse - 17 Jun, 2013

Market Update

Market after opening positive slipped down in the early morning trades but it gained momentum in early noon trades shrugging off the early losses and ended the day firm up at days high led by gan in index heavyweights. Sensex ended up by 147.94 points or 0.77% at 19,325.87 after opening up by 71.97 points or 0.38% at 19,249.90 and touched a high of 19,344.28 and a low of 19,084.68 while Nifty ended positive up by 41.65 points or 0.72% at 5,850.05 after opening up by 12 points or 0.21% at 5,820.40 and touched a high of 5,854.90 and a low of 5,770.25 in the day.

Sectoral wise, barring Metal index which closed in weak down by 0.13% all other indices ended the day positive with Auto index leading the list rose up by 1.90%, followed by Capital and Consumer Durables indices up by 1.15% and 1.02%, IT, Oil & Gas, FMCG, Healthcare, Power and Bankex indices gaining between 1%-0.40% each, while PSU tad up by 0.12% and Realty almost flat up by 0.03%. In Broader markets Mid-cap and Small-cap indices both advanced up by 0.33% and 0.39% respectively.

Major index stock gainers were, Mahindra & Mahindra spurted up by 4.43%, BHEL surged up by 3.37%, Bharti AirtelBajaj Auto and Sun Pharmaceutical rose between 3%-2%, Tata Power, RIL, Maruti Suzuki, Hero Motocorp, HDFC, Infosys and L&T gained between 2%-1%, Tata Steel, SBI, Tata Motors, Coal India, Hindustan Unilever, HDFC Bank and ONGC advanced between 1%-0.20%, while ITC, TCS and Wipro tad up by 0.15%-0.12% each.

Major index stock losers were, Hindalco Ind and Dr Redys Lab down by 1.64% and 1.38%, Gail (India), Sterlite Inds, NTPC and Jindal Steel declined  between 1%-0.50% and ICICI Bank almost flat down by 0.01%.

RBI (Reserve Bank of India), in its Mid-Quarter Monetary Policy Review-June 2013, has kept the interest rate unchanged, after cutting them in each of its previous three policy reviews, and also warned of upward risks to inflation posed by a sliding rupee and increase food prices. The Repo Rate remained unchanged at 7.25%, CRR (Cash Reserve Rate) at 4%, Reverse Repo Rate at 6.25 while bank rate at 8.25%.

Overall market breadth was marginally positive with 1,184 shares advanced as compared to 1,117 shares declined while 131 shares remained unchanged.

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