Daily Equity Market Report – September 26, 2013

Indian equity markets continued its flattish ending streak after witnessing day-long volatile trading session on the expiry day. In last one and a half hour of the day, both the benchmark indices were seen leaping ahead and afterwards pared the gain again with a sharp dip. Nifty leaped beyond 5900 mark and touched the intra-day high of 5917.65 before closing at 5882.25 up by 8.40 points, while Sensex also tried to reclaim 20000 level and made the intra-day high of 1997.28 and wrapped up the session at 19893.85 up by 37.61 points.

Market showed no sign of recovery in the last hour of trading before the September series expiry. Nifty ended the September series up 8.7% while the Sensex was up 8.2%. More than Rs. 12,500 crore worth of foreign money, initiatives of Mr. Raghuram Rajan and continuation of monthly fiesta of USD 85 billion bond buying by Fed drove this series rally.

Among sectoral indices, CNX Pharma surged by 0.86% gaining the most and followed by CNX FMCG (0.61%), CNX Metal (0.50%) and CNX Finance (0.47%). On the other hand, CNX Energy was the most loosing index as plunged by -0.87% and joined in by CNX Realty (-0.70%), CNX PSU Bank (0.64%) and CNX MNC (-0.42%).

Market breadth remained like a mixed bag today as 610 stocks on NSE rose against 533 declined while 82 remained unchanged.

Out of 50 stocks of Nifty index, 22 advanced against 27 declined and 1 remained without any change.

Top Five Nifty gainers: BHEL topped the Nifty Gainers chart and registered 5.59% gain and joined by Tata Steel (3.50%), J P Associate (3.35%), Coal India (2.85%) and Sun Pharma (2.28%).

Top Five Nifty Losers: Jindal Steel shed the most on Nifty losers list falling by -3.27% and followed by Ambuja Cement (-2.59%), PNB (-2.22%), GAIL (-1.94%) and Reliance Infra (-1.62%).

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