Daily Equity Market Report – August 13, 2013

Indian equity benchmark indices continued their northward momentum today also and registered overall gain of approx 1.5% each. Nifty breached the psychological level of 5700 in the last half an hour of trade but managed to end the day at 5699.30 up by 86.90 points while Sensex successfully traded over the psychological barrier of 19000 and closed at 19229.84 up by 282.86 points. The government measures to curb CAD by increasing import and excise duty on gold and silver provided support to the markets and the Rupee as well.

Import duty on gold and platinum has been increased to 10% from 8% earlier while import duty on silver has been hiked to 10% from 6% as compared to earlier. The government increased excise duty on refined gold bars to 9% from 7%. It has also hiked excise duty on silver made from ore to 8% from 4%.

The Indian Rupee strengthened against the US Dollar intraday on the back of inflows from FIIs. The partially convertible Rupee was at 61.02, up 25 paise, against previous close of 61.28 per Dollar.

All the sectoral indices, barring CNX Metal (-0.12%), closed in the positive terrain with realty, banks, auto and technology stocks leading the up move. CNX Realty (5.04%) carried the baton and supported by CNX Finance (2.87%), Bank Nifty (2.82%), CNX Service (2.49%), CNX Media (2.31%) and CNX Auto (2.20%).

Market breadth was positive on the NSE with 631 gainers against 280 losers and 35 unchanged.
Out of 50 stocks of Nifty 42 stocks advanced while 8 stocks declined.

Top 5 Nifty gainers: DLF (9.34%), Ranbaxy (8.86%), Axis Bank (7.77%), J P Associates (5.25%) and IDFC (4.48%) were top index gainers.

Top 5 Nifty losers: Hindalco (-3.24%), Coal India (-2.15%), Ambuja Cement (-1.99%), Cairn India (-1.08%) and ONGC (-0.95%) were top index losers.

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