Market Pulse - 7 Nov, 2013

Market Pulse - 7 Nov, 2013

Markets after flat positive opening surged higher in early noon session but erased its gains, after rating agency Standard and Poor (S&P) said that it may cut India’s rating to below investment grade, if the next government fail to provide a credible plan to overturn the country’s low economic growth. The S&P BSE Sensex closed down by 72.17 points or 0.35% at 20,822.77, after touching a high of 21,142.85 and a low of 20,797.06 in the intra-day. The CNX Nifty also declined by 27.90 points or 0.45% at 6,187.25. It touched a high of 6,288.95 and a low of 6,180.80 intra-day today.

Among the sectoral indices, IT and Metal were only the indices gaining up by 1.25% and 0.64%, while sectoral indices like Realty, Consumer Durables and Bankex indices dropped between 3-2% each followed by Power, PSU, Capital Goods and Auto indices declining between 2-1%. FMCG and Healthcare were other sectoral losers. In the broader markets, Mid-cap index dropped by 1.07% and Small-cap index also declined by 1.14% respectively.

Among the index gainers include, Tata Steel surging by 3.64%, followed by Infosys, TCS, Bajaj Auto and Hindalco Industries gaining between 2-1% each. Sesa Sterlite, Dr Reddys Lab, Sun Pharma, Hindustan Unilever were some of the other gainers on the list.

Among the index losers were BHEL and SBI dropping by 4.27% and 3.17%, Tata Motors, ICICI Bank, Tata Power, Bharti Airtel, Reliance Industries and Gail India felling between 3-1%. Coal India, L&T, Cipla, HDFC and HDFC Bank were some of other losers.

The overall market breadth ended weak with 1,402 shares declining as compared to 1,080 shares advancing while 149 shares remained unchanged.

Tags - Market Pulse 7 Nov 2013, Market Pulse, Market Pulse