Market rebounds from its 4-month low level
Markets managed to close almost flat with positive bias. After opening weak it fell to 4-month low as benchmark index breached the 200 day moving average. However, it gained momentum and recovered from the lower levels in the late noon trades. The S&P BSE Sensex closed just 2.67 points or 0.01% at 20,211.93. It touched a high of 20,255.52 and a low of 19,963.12 intraday. The CNX Nifty closed down by nearly 1 point or 0.01% at 6,000.90. It touched a high of 6,017.80 and a low of 5,933.30 in the intraday.
In the sectorial indices, IT index fell by nearly 2%. Healthcare and Metal indices too slipped by 0.5-0.7% and Oil & Gas index closed marginally weak by 0.12%. Whereas Bankex index gained nearly by 1%, followed by FMCG index advancing by 0.78%. Power and Realty index too managed to gain between 0.5-07%. Capital Goods and Consumer Durables were the other sectorial indices closing with the gains. In the broader markets, Mid-cap index advanced by 0.39% and Small-cap index gained by 0.19% respectively.
Among the index gainers, Bharti Airtel and NTPC surged over 3% and Tata Motors gained by 2.76%. Bajaj Auto, State Bank of India, ITC, Coal India, HDFC Bank and Hero MotoCorp rose between 2-1% each. ICICI Bank, Cipla, L&T, Hindustan Unilever, Reliance Industries, ONGC and Axis Bank the other index gainers. However, Tata Power ended flat.
Among the index losers, Mahindra & Mahinrda and Gail (India) dropped over 3%. BHEL and Dr. Reddys Lad also slipped over 2%. TCS, Wipro, Infosys and Sun Pharma declined between 2-1%. Sesas Sterlite, HDFC, Tata Steel and Maruti Suzuki were the other shares on the losing side.
The overall market breadth ended tad positive. Of the 2653 shares traded, 1269 share advanced as compared to 1238 shares declined. While 146 shares remained unchanged.
Tags - Market rebounds, Market Pulse, Stock Market Pulse
Market rebounds from lower level
http://www.stockmarketpulse.net/2014/02/04/market-rebounds-lower-level/
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