Market Pulse - 9 Dec, 2013

Market Pulse - 9 Dec, 2013

Markets rallying for straight third day closed higher today, after opening gap up in the morning, post triumphant victory by the BJP (Bhartiya Janata Party) in the state assembly polls. Investors hailing the outcome of state assembly polls anticipates NDA (National Democratic Alliance) government coming to power led by Narendra Modi. The S&P BSE Sensex purted by 329.89 points or 1.57% to 21,326.42. It touched a high of 21,483.74 and a low of 21,282.64. The CNX Nifty also surged by 104 points or 1.66% to 6,363.90. It touched a high of 6,415.25 and a low of 6,345.00 in the intraday session today.

Among the sectoral indices barring Consumer Durables index which closed tad down by 0.11% all the other remaining sectoral indices ended the day in green. Capital Goods spurted by 3.14%, Bankex and Realty indices also surged by 2.93% and 2.61%. Power, Oil & Gas and Auto indices closed between 2-1% each. Metal, IT, FMCG and Healthcare were other indices closing with gains. However, in the broader markets both the Mid-cap and Small-Cap index closed marginally up by 0.48% and 0.39% each, as compared to benchmark index.

Among the index gainers ICICI Bank and Sesa Sterlite spurted by 5.16% and 5.04%, L&T surged by 4.52%, Maruti Suzuki and ONGC also surged by 3.85% and 3.48%. NTPC, Wipro, Hindalco Inds, Mahindra & Mahindra HDFC Bank, Gail (India), SBI, Bharti Airtel, Reliance Industries, Bajaj Auto, Dr Reddys Lab, Hero MotoCorp and Tata Power gained between 3-1% each. HDFC, Tata Motors, ITC and Coal India were some of the other gainers.

Among the index losers were Jindal Steel dropping by 6.01%, Cipla and Tata Steel declining by 0.79% and 0.44% while Hindustan Unilever slipping marginally by 0.13%.

However, market breadth was negative with 1,310 shares declining and 1,201 shares advancing while 179 shares remained unchanged.

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Posted in: Indian Market Tips