September 6, 2013

Market Pulse - 06 Sep, 2013

Market Pulse 06 Sep 2013The markets closed higher, amid rally in Bankex sector, after RBI raising the overseas borrowing limits for lenders in proposition to support growth and boost the Rupee. The S&P BSE Sensex closed up by 290.30 points or 1.53% at 19,270.06, after touching a high of 19,249.35 and a low of 18,929.38 in the intra-day. The CNX Nifty also surged up by 87.45 points or 1.56%, after touching a high of 5,68.60 and a low of 5,566.15 in the intra-day today.

Among the sectoral indices Bankex, Capital Goods, Oil & Gas, PSU, Power, Healthcare, Metal and FMCG gained, whereas Consumer Durables, Realty, Auto and IT indices declined. The broader markets also closed firm with Mid-caps and Small-caps gaining by 0.57% and 0.63%.

Major index gainers were, ICICI Bank and ONGC spurted up by 7.37% and 7.17%, Bharti Airtel, Cipla, L&T and BHEL surged up between 6-3%. Other gainers include NTPC, Jindal Steel, Sun Pharma, HDFC, ITC, Gail (India), HDFC Bank, Tata Steel, Reliance Industries, Bajaj Auto, Infosys, Tata Motors, Hindalco Inds and Wipro.

Major index losers were, Tata Power and Coal India dropped by 2.61% and 2.12%, Sesa Goa and Hindustan Unilever fell by 1.90% and 1.62%. Hero MotoCorp, Mahindra & Mahindra, Maruti Suzuki, TCS, Dr Reddys Lab and SBI were some of the other losers on the list.

Jindal steel and Power Limited surged up by 2.93%, after the company announced that it will commence the share buyback offer from September 16, 2013.

The Rupee closed at 65.20 gaining by 80 paise or 1.21% per dollar as against yesterday's close of 66.01 on the Interbank Foreign Exchange. The Rupee gained ground, after RBI announcing slew of reforms late-Thursday along with dollar sale by the banks.

The overall market breadth was positive with 1,298 shares advancing as compared to 1,008 stocks declining.

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