Indian equity markets followed
the Asian markets and started the day on buoyant mode but seen with very little
volatility and given very narrow range for trading. The broad-based index Nifty
hardly moved beyond 20-points trading range and rose by almost 31 points and
closed at 5867.90 up 0.53%, while Sensex, zooming about 85 points wrapped up
the session at 19495.82 up 0.44%.
Both the benchmarks shed half of
gains in afternoon trade, weighed down by country's largest lenders State Bank
of India and ICICI Bank. This erased initial gains are attributed to the
weakening Rupee in afternoon trade on fresh dollar demand from African bank
since Thursday, Reuters reported. INR has been the victim of rising Dollar
demand and narrowing spread between the US and Indian bond yields. It has
plunged 1.8% over last 5 days and is Asia's worst performer this week.
Most of the sectoral indices
ended the day in the green zone today; CNX Energy being the largest gainer by 1.24%
followed by CNX FMCG (0.84%) and CNX PSE (0.62%).
CNX Media (-0.59%), CNX IT
(0.43%) and CNX Infra (0.08%) are the only indices registering losses today.
Market breadth remained almost positive
today as 652 stocks rose against 615 declined while 83 remained unchanged.
Out of 50 stocks of Nifty index, 30
advanced and 20 declined.
Top Five Nifty gainers: IDFC led the Nifty Gainers list and registered
4.35% gain followed JP Associates (4.10%), Jindal Steel (2.77%), NMDC (2.72%)
and Asian Paints (2.60%).
Top Five Nifty Losers: GAIL was the biggest loser and fell by -2.32%
followed by Bharti Airtel (-2.04%), Lupin (-1.71%), ICICI Bank (-1.18%) and M&M
(-1.02%).
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