Mumbai: The benchmark indices have shown smart bounceback in the last half an hour of trade but ended almost flat. The rally seen in last two consecutive days got fizzled out a bit in Thursday’s trade.
Recovery was led by Reliance Industries, Reliance Petroleum, SBI, ICICI Bank, Bharti Airtel, Reliance Communication, Idea Cellular, Sterlite Industries and ACC.
Midcap and small cap stocks remained in positive terrain throughout the session, mainly helped by shipping, infrastructure, financial and sugar stocks. However, technology, realty stocks, and BHEL, ONGC, HDFC and HDFC Bank closed in red.
Markets had started the day on a flat note and traded volatile till the afternoon trade. As the European markets opened weak, indices had also slipped into red. However, in the last half an hour of trade, they have managed to show smart recovery.
The 30-share BSE Sensex closed at 9,645.46, down just 9.44 points or 0.1 per cent from previous close. It swung 304 points between an intraday high of 9,746.01 and low of 9,441.97. The 50-share NSE Nifty was down 0.28 per cent or 8.10 points at 2,920.15.
Midcap and Small cap indices outperformed the benchmark indices. BSE Midcap Index rose 1.86 per cent or 54.84 points to 3,003.08 and Small Cap Index gained 48.14 points or 1.42 per cent at 3,443.59.
Shipping stocks continued the rally for the second straight day. Mercator Lines shot up 27.74 per cent . ABG Shipyard, Bharati Shipyard, GE Shipping, Shipping Corporation and Shreyas Shipping surged 9-15.7 per cent . Essar Shipping, Hariyana Ship and Varun Shipping rose 5-6 per cent .
Page_break
Among the sugar space, Bajaj Hindustan, Balrampur Chini, Dhampur Sugar, Oudh Sugar, Rajshree Sugars, Shree Renuka Sugars, Uttam Sugar and Triveni Engg went up 5-8 per cent .
Other midcap stocks like Anant Raj Inds, Motherson Sumi, DCB, Sadbhav Engg, HT Media, Jet Airways, Patel Engg, Kalpataru Power, Jindal Drilling and GlaxoSmith Consumer gained 10-20%.
In the small cap space, Nitin Fire Protection, Andhra Cement, DS Kulkarni, Emco and Infomedia surged 11-20%.
IT Index was weak in today's trade, fell 95.78 points or 3.9% to 2,359.20. TCS, Satyam, Wipro, Tech Mahindra and Infosys tumbled 3-6%.
Pharma stocks like Dr Reddys Labs, Wockhardt, Cipla, Cadila Health and Glenmark lost 2-5%. Ranbaxy Labs and Sun Pharma also closed weak. BSE Healthcare Index lost 32.34 points or 1.13% to 2,818.47.
Power Index was down 0.38% at 1,755.84 and FMCG Index fell 0.31% to 1,944.53. Capital Index ended down by 0.2% at 6,810.27.
Among the power stocks, NTPC and Power Grid Corp were down over 1%. However, Reliance Power, GMR Infra, GVK Power and Suzlon Energy gained 2-4%.
In the FMCG space, United Spirits, Dabur India, HUL and Godrej Consumer fell 1-3%.
Capital goods stocks like BHEL lost 2.75% while L&T gained just 0.28.
However, Realty Index rose 42.49 points or 2.12% to 2,047.58. All real estate stocks gained 3-20%. However, DLF and Unitech fell 1-2%.
Oil & Gas Index moved up by 98.53 points or 1.67% to 6,004.99. RNRL shot up 25.72%. Reliance Petroleum rose 8.74% and Reliance Industries up 2.58%. On the other side, ONGC tumbled 1.77%. OMCs like BPCL, IOC and HPCL fell 2-3.44%.
Metal Index gained 71.19 points or 1.37% at 5,253.11. Sterlite Inds, JSL, Sesa Goa and Jindal Steel rose 2-8%. However, Hindalco, JSW Steel and SAIL were under pressure.
Bankex was up 44.01 points or 0.89% at 5,003.30. ICICI Bank, PNB and SBI went up 0.75-1.58%. However, HDFC Bank fell 0.82%.
Auto Index close flat at 2,377.61. Bharat Forge, Tata Motors, Maruti Suzuki, Hero Honda and M&M were losers.
Inflation was a non-event for the day. It came in at at 8% for the week ended November 29 as against 8.4% in the previous week. It was in line with estimates, as CNBC-Poll saw it at 7.9%.
WPI for all commodities stood at 233.6, down 0.04% (WoW). Inflation for the week ended October 4 was revised to 11.49% versus 11.44%.
Total traded turnover stood at Rs 55,303.37 crore. This includes Rs 12,066.43 crore from NSE Cash segment, Rs 38,606.17 crore from NSE F&O and the balance Rs 4,630.77 crore from BSE Cash segment.
Page_break
Market breadth was positive throughout the session due to broader indices. About 1698 shares advanced while 1131 shares declined. Nearly 371 shares remained unchanged.
On the global front, Asian markets ended mixed on uncertainty about US auto bailout package. Shanghai fell 2.28% and Straits Times down 1.51%. Taiwan was marginally down. However, Hang Seng, Nikkei and Kospi gained 0.23-0.75%.
China's economic meeting ended without announcement of any stimulus steps. Chinese exports shrunk 2.2% in November (YoY), seen largest drop since April 1999. China's CPI rose 2.4% in November, seen weakest pace in almost 2 years.
South Korea has cut interest rates by 100 bps to 3%, the most since 1999.
European markets were trading mixed. FTSE was up 0.23% at 4,377. However, CAC fell 0.4% to 3,307 and DAX down 0.5% to 4,781.
Market Snapshot:
Markets stages a decent pullback in the last hour of trade
Recovery led by Reliance Group stocks
Mid Cap stocks outperform in today's trade
Nifty manages to close above important 2900 levels
Sensex ends down (dn) 9 points at 9645; Nifty ends dn 8 points at 2920
CNX Midcap Index up 2%, BSE Small-cap Index up 1.4%
Shipping stocks continues to gain on second consecutive day (on expectation of a mild pullback in Baltic day index in the medium term)
Shipping stocks: Mercator Lines up 29%, GE Shipping up 15.6%, SCI up 11.8%, Varun Shipping up 6.2%
BSE IT Index dn 4.1%, Tcs up 6.2%, Satyam dn 5.1%, Wipro dn 4.4%, Infosys dn 3.3%
BSE Realty Index up 2.1%, Indiabulls Real Estate up 10.5%, Hdil up 4.8%, Peninsula Land up 7.8%
BSE Oil & Gas Index up 1.7%: RNRL up 25.8%, RPL up 8.9%, Essar Oil up 7.7%, Reliance Ind up 2.6%
Mid-Cap Cement Gainers: Andhra Cem up 20%, Mysore Cem up 20%, Shree Digvijay Cem up 19.9%,
Index Gainers : Sterlite Ind up 8.2%, Rcom up 4.7%, Rpower up 4.5%, Acc up 2.6%
Mid Cap Gainers : Anant Raj up 20%, Nitin Fire up 19.6%, DCB up 18.1%, Jet
Ariways up 12.9%, Crompton up 9.1%, REC up 7.6%
NSE Advance Decline at 2:1
Total markets turnover around Rs 55303.37 cr Rs 59269.1 cr Wednesday
Comments
0 comment