Friday 10 May 2013

Daily Equity Market Report – May 10, 2013

Indian benchmark indices soar in the afternoon trade to the 3 month high. 50 Shares index Nifty breached the psychological resistance of 6100 for the first time since 29 January 2013. Sensex ended the day at 20082 gained 143 points while Nifty closed at 6094 surged 44 points.

The Index of Industrial Production (IIP) for March came in at 2.5 percent, compared to market expectations of between 2.0-2.2 percent. Institutional investors continued their buying streak to the heavyweight of the index from rate sensitive sectors like auto, banks and realty sectors.

Among the sectoral indices CNX Auto jumped 2.16% followed by Bank Nifty (1.24%) and CNX Consumption (1.05%) while CNX metal was the biggest loser plunging -0.15%.

Out of 50 shares of Nifty 32 shares advanced, 17 shares declined while 1 remain unchanged.

Top 5 Nifty gainers: Maruti (4.41%), IndusInd Bank (3.14%), Tata Motors (2.93%), ITC (2.79%) and ACC (2.46%) were the Nifty top gainers.

Top 5 Nifty losers: Coal India (-2.90%), Jindal Steel (-2.16%), PNB (-1.92%), NTPC (-1.82%) and Ultra Cement (-1.59%) were top losers.

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