August 21, 2013

Market Pulse - 21 Aug, 2013

Market Pulse 21 Aug 2013Markets extended its losses for the fourth consecutive days sheding off its early gains, led by bleeding Rupee which is hitting new lows amid rising fears of US Federal reserves rolling back its stimulus soon. The S&P BSE Sensex ended 340.13 points or 1.85% lower to 17,905.91. The CNX Nifty dropped by 98.90 points or 1.83% to 5,302.55.

Among the sectoral indices, Metal and Oil & Gas indices dropped by almost 4% followed by Realty, FMCG, Healthcare, Capital Goods, Power and Auto all the indices slipped between 2%-3%, while Bank and Consumer Durables ended on a positive note. In the broader market both the Mid-cap and Small-cap index fell down by 1.24% and 0.82% respectively.

Major index gainers were, BHEL surged up by 3.15, HDFC and HDFC Bank gaining between 2-3%, Gail (India) and Tata Power advanced by 0.72% and 0.14%.

Major index losers were, Bharti Airtel crashing down by over 6%, Sterlite Inds, Hindalco Inds and Tata Steel dropped between 3-5%, RIL declined by 4.72%, ONGC dropped by over 2%, Infosys and TCS slumped between 1-2% and ITC slipping by almost 3%.

The rupee hitting fresh life-time low of 64.5250 per dollar on rising fears that the US Federal Reserve will soon start withdrawing its monetary stimulus to the US economy. However the partially convertible Rupee closed at 64.11/12 per dollar, down by 1.30% on back of oil refiners buying dollars.

Reliance Industries dropped by 4.72%, after reports that RIL (Reliance Industries Ltd) been asked to sell gas it has failed earlier to deliver at the old price of $4.12 per million British thermal unit.

The overall market breadth ended firm negative with 1,350 shares declining as compared to 915 shares advancing.

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