August 8, 2013

Market Pulse - 8 Aug, 2013

Market Pulse 8 Aug 2013Markets reversed after two days of declines to close higher after strengthening Rupee led to short covering in index heavy-weights and Ranbaxy Labs spurted after healthy US business growth on sequential basis helped restore investor confidence. The S&P BSE Sensex ended up by 124 points or 0.67% at 18,789.34. It touched a high of 18,829.26 and a low of 18,621.67 in trade today. The CNX Nifty closed at 5,565.65, up 46 points or 0.84% and it touched a high of 5,577.60 and a low of 5,510.05 in early trade today.

Among the sectoral indices, Metal Index ended 0.40% lower, followed by the HealthCare Index marginally down by 0.13%. Metal Index closed 2.60% higher, followed by Realty index which gained up by 2.30% and Power index ended up by 1.20%. The S&P BSE Midcap Index closed 1.45% higher and BSE S&P Smallcap Index ended 1.34% up.

Among index gainers were, Hindalco gained up by 5.40%, Cipla jumped up by 5%, Tata Steel surged up by 5.18%, Bharti Airtel gained up by 3.20% and Maruti Suzuki advanced up by 3.89%. HDFC, TCS, Bharti Airtel and HDFC Bank were some of the other gainers.

Among index losers were, Sun Pharma slipped by 3.20%, SBI down by 3%, Dr. Reddys Lab fell by 1.50%, Wipro down by 0.80% and Hindustan Unilever down by 0.61%.

The Rupee firmed against the dollar selling by banks and exporters. The Rupee closed at 60.88/89 per dollar as compared to yesterday's closing at 61.30/31.

Ranbaxy Laboratories jumped up by 27.49%, as company reported higher than expected revenues. Its strong US sales grew by 29% at Rs 770 crore for the June 2013 quarter as compared to Rs 595.6 crore in the March 2013 quarter.

The overall market breadth was very positive as 1,379 stocks advanced while 869 stocks declined.

Share This

Popular Posts

Featured Post

Sukanya Samriddhi Scheme

Sukanya Samriddhi Scheme launched by Prime Minister Narendra Modi on 22nd Januray 2015 for girl child. Under the Sukanya Samridhi Sch...

Google+ Followers