Market Pulse - 26 Nov, 2013

Market Pulse - 26 Nov, 2013

Markets after opening weak continued to slide down on profit bookings by the investors, as crude oil prices which had eased after the landmark Iran deal staged a recovery nullifying the benefits of a lower import bill, as India imports most of its crude oil requirement, will facilitate the country to trim its current account deficit and contain inflation. The S&P BSE Sensex slipped down by 180.06 points or 0.87% at 20,425.02. It touched a high of 20,604.27 and a low of 20,390.62. The CNX Nifty also closed down by 56.25 points or 0.92% at 6,059.10. It touched a high of 6,112.70 and a low of 6,047.75 in the intraday.

In the sectoral indices, Auto, Power and Capital Goods were the only indices closing with gains between 0.50-0.30%, while other indices closed down. Bankex, PSU, Oil & Gas and FMCG indices closed weak down between 2-1%, Realty, Consumer Durables, Healthcare and Metal indices declined between 1-0.50% whereas IT index closed marginally down by 0.29%. Even the broader markets ended weak with Mid-cap index slipping by 0.26% and Small-cap index declining by 0.83%.

Among the index gainers, BHEL was the top gainer surging by 2.57% followed by Tata Motors, Hindustan Unilever, Hero MotoCOrp and Sesa Sterlite gaining between 2-1% each. Bajaj Auto, Mahindra & Mahindra and Hindalco Industries were other index gainers.

Among the index losers were, Bharti Airtel, ICICI Bank and Coal India dropping between 3-2%, ITC, HDFC, Tata Steel, Dr Reddys Lab, Sun Pharma, HDFC Bank, RIL, Gail (India), SBI and Maruti Suzuki declining between 2-1%. TCS, Wipro, NTPC, Tata Power and ONGC were some of the other index losers on the list.

Overall market breadth ended negative with 1,459 shares declining and 1,056 shares advancing while 139 shares remaining unchanged.

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Posted in: Indian Market Tips