Pranam,
Sensex : 18,314 (+0.6%) Nifty : 5,517 (+0.6%)
Advance : Decline 1207 : 1638
Volumes :
US$ (MI). Inc/ Dec %
BSE+NSE 2733 -22
F&O 17247 -24
Market Roundup:
Markets opened with gains tracking firm cues from overseas following news of US resolving the debt crisis. Profit booking at higher levels capped up-move as markets lost momentum and tread lower as the day progressed. Nifty managed to find support near 5,500 levels and buoyed by positive European opening, gained back some ground to close the day with gains. L&T, Infosys & ICICI Bank were amongst the major contributors to benchmark index's rise.
Sector Movement:
IT (+0.9%) led gainers followed-up by Auto (+0.8%) and Capital Goods (+0.7%) while Metal (-1.2%) lost the most with Consumer Durables (-0.3%) and FMCG (-0.1%) being runners up.
Top Gainers : Adani Ent. (9.4%), TVS Motor (8.7%), GMDC (6.5%), Adani Power (4.8%) and Ranbaxy (4.5%)
Top Losers : JSW Steel (10.2%), Crompton Greaves (6%), Bharat Forge (5.8%), Nalco (5.4%) and EduComp Solution (5.3%)
Major Blocks:
- Block of 1mn shs was reported in Indian Hotel.
- Block of 5.5mn shs was reported in Gujarat Pipavav Port.
- Block of 500k shs was reported in Cox&Kings.
- Block of 500k shs was reported in Monnet Ispat & Energy.
Critical Observation:
- MidCaps & SmallCaps underperformed their LargeCap peers pushing breadth into negative as volumes tread lower.
- JSW group cos. led by JSW Steel & JSW Holdings continued to reel under pressure for yet another day.
- OMCs lost ground on news of Govt. sanctioning Rs. 150bn against Oil Ministry's subsidy demand for Rs. 250bn for Apr-Jun period.
- Capital Goods index managed to close with gains after four days of losses, primarily due to gains on heavy-weight - L&T.
Market View
Markets faced pressure at higher levels and retraced the early rise, showing no signs of breaking beyond the range (5450-5750).
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Warm Regards,
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