September 17, 2013

Market Pulse - 17 Sep, 2013

Market Pulse - 17 Sep, 2013Markets gained momentum after initial weakness to close marginally higher as investor remained side-line ahead of the FOMC (Federal Open Market Committee) meet starting today and RBI's (Reserve Bank of India) monetary policy later this week. The S&P BSE Sensex closed up by 61.57 points or 0.31% at 19,804.03 after touching a low of 19,635.44 and a high of 19,818.31 in the intra-day today. The CNX Nifty closed up marginally by 9.65 points or 0.17% at 5,850.20, after touching a low of 5,806.05 and a high of 5,856.50 in the intra-day today.

Among the sectoral indices, It index surged up by 2.15% followed by Metal, Auto and FMCG indices which closed between 0.60-1% while Realty, Power, Bankex and Consumer Durables indices slipped between 1-0.70%. Capital Goods, PSU, Oil & Gas and Healthcare were the other indices that declined. In the broader market, Mid-cap index slipped by 0.41% and Small-cap index almost ended flat down by 0.08%.

Among the index gainers were, Wipro spurted up by 5.41%, Dr Reddys Lab and TCS surged up by 3.69% and 2.38%. Jindal Steel, Sesa Goa, Coal India, Gail (India), Tata Motors, Maruti Suzuki, ITC, Hindustan Unilever and Infosys gained between 2-1%. Mahindra & Mahindra, Bajaj Auto, Hindalco Industries, Bharti Airtel, BHEL and Cipla were among other gainers.

Among the index losers were Sun Pahrma leading the list by slipping 3.22% followed by ONGC felling by 2.30%, NTPC, Hero MotoCorp, Tata Steel and HDFC declining between 2-1%. Tata Power, SBI, L&T, ICICI Bank, Reliance Industries and HDFC Bank were other losers on the list.

The Rupee continued to trade weak in the late trades due to constant dollar demand by the importers. The partially convertible Rupee closed at Rs 63.38 down by 0.51 paise or 0.81% as compared to yesterday's close of Rs 62.86/87 per dollar.

The overall market breadth was negative with 1,233 shares declining as compared to 1,119 shares advancing.

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