Thursday, 29 August 2013

Daily Equity Market Report – August 29, 2013

Indian equity markets made smart gain, zooms over 2% on the expiry of F&O contract of august series led by recovery in rupee against US dollar. Oil & gas, capital goods and metal stocks managed to keep the market strong on today’s trading session. Nifty ended the day at 5409.05 up by 124.05 points while Sensex ended at 18401.04 surged 404.89 points.

The rupee rebounded on Thursday from a record low after the Reserve Bank of India's move to provide dollars directly to oil companies provided relief to the currency, while a recovery in emerging market currencies also offered support. INR recovers to 66.85 from the all time low of 68.80.

Reliance and its partner BP won approval to invest USD 3.18 billion in R-Series gas field in the flagging KG-D6 block, reports PTI.

Among the sectoral indices CNX Infra (3.01%), CNX Energy (2.97%) and CNX Metal (2.71%) were top gainers while CNX PSU Bank (-0.46%) was only loser of the day.

Out of 50 stocks of Nifty 38 stocks ended in green while 12 stocks ended in red.

Top 5 Nifty gainers: Sesa Goa (12.83%), Hindalco (5.78%), HDFC (5.73%), LUPIN (5.10%) and Kotak Bank (4.92%) were among the top Nifty gainers.

Top 5 Nifty losers: PNB (-2.05%), Ultra Cement (-1.96%), Coal India (-1.54%), Infosys (-1.36%) and SBI (-1.06%) were top laggards.

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