Tuesday, 15 October 2013

Daily Market Round-Up

The markets ended the day in the negative terrain amid choppy movement ahead of the trading holiday tomorrow. The Sensex which scaled a high of 20,760 in early morning deals, tumbled to a low of 20,447 - down 313 points by late morning trades.

The index, thereafter, recovered and rebounded back into the positive zone, only to exhibit choppy movement for the rest of the trading day.

Market participants were nervous ahead of the trading holiday, which also coincides with October 17 deadline with regards to the US shutdown fears. Elsewhere the Rupee to experienced some volatility and was eventually seen trading in red with a loss of 30-odd paise at 61.86 per US dollar.

Back to the equity markets, the Sensex finally ended with a loss of 60 points at 20,550, and the Nifty declined 24 points at 6,089.

The broader markets witnessed deeper cuts with the BSE midcap index down 1.3 per cent to 5,830, and the Smallcap index down a per cent at 5,693, respectively.

Banking and realty stocks bore brunt of the selling pressure on account of profit taking. The Bankex was down 2.6 per cent at 11,840, and the Realty index slipped 1.6 per cent to 1,328.

Hero MotoCorp and HDFC Bank dropped nearly 2.5 per cent each to Rs 2,049 and Rs 651, respectively.

SBI, Tata Power and ICICI Bank shed 2 per cent each at Rs 1,622, Rs 79 and Rs 975, respectively.
Gail India and Bajaj Auto were down nearly 1.5 per cent each at Rs 325 and Rs 2,111, respectively.

Reliance which surprised the Street with better-than-expected numbers yesterday, failed to make a mark in the markets today. The stock ended with a loss of 0.4 per cent at Rs 867.

On the other hand, Tata Steel gained 2.8 per cent at Rs 310. Bharti Airtel and Wipro rallied 2 per cent each to Rs 339 and Rs 510, respectively.

Hindalco jumped 1.5 per cent to Rs 112. Hindustan Unilever, Sesa Sterlite, BHEL, Infosys and NTPC were the other notable gainers.

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