Wednesday 10 April 2013

Daily Equity Market Report – April 10, 2013

Indian benchmark indices broke their losing streak and registered more than 1% gain after 5 continuous trading sessions. Nifty rebound from its 7 month low and closes above the 5500 level.  The rally was led by advances in technology shares such as Infosys ahead of their quarterly results and by rebounding blue chips such as Larsen & Toubro. Nifty surged 63 points to the previous close ended the day at 5558 level while Sensex closed at 18414 up by 187 points.

Among the sectoral indices CNX finance gained 2.22%, followed by CNX service (2.13%) and CNX IT (1.99%). CNX FMCG was down by 0.57%.

Market breadth was positive on the NSE with 436 gainers against 355 losers.

Out of the 50 stocks of Nifty 38 stocks ended in green, 11 stocks ended in red and 1 stock remain unchanged.

Top 5 Nifty gainers: Reliance Infrastructure Limited was the biggest gainer of the day, up by 4.62%. HCL, JP Associates, Axis Bank and Kotak Bank followed the northward direction.

 Top 5 Nifty Losers: Sun Pharma loses 1.45%, followed by Jindal Steel, ITC, HUL and Dr. Reddy’s.

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