Indian equity markets completely shrugged off the fact that US Govt. shutdown is the first of such instance in last 17 years and marched ahead in the name of local stimuli. Both the benchmark indices maintained their northward journey throughout the day after a single hiccup that was seen in early trading hours. The broad-based index Nifty rose by 44.75 points and closed at 5780.05 up 0.78%, while Sensex, gained by 137.38 points wrapped up the session at 19517.15 up 0.71%.
The US government shut down - the first time since 1995-96 - as the Republican and the Democrats failed to reach an agreement on spending and budget mainly due to their differences over the healthcare reforms, which is popular as Obamacare. Asian markets come off marginally from highs though most experts believe that the news was on expected lines. It seems market has already accounted for the anticipatory effect of this event and over-lived the fear in previous two trading sessions.
In Indian markets, recently declared lower-than-expected June quarter CAD number and encouraging September sales for automobile firms gave the optimistic reasons to investors. CAD widened by USD 21.8 billion in Q1 FY14, below the expectation of USD 25 billion; and in automobile segment, Maruti's sales rise 11.7% Y-o-Y to over 1 lakh units, beating expectations. TVS Motor's sales also rise about 16% Y-o-Y with a big boost coming in from exports. M&M, though bucked the trend, as total sales fell 10.5% but are still better-than-expected.
Among the sectoral indices, CNX Realty led the momentum in green terrain and surged by 2.91% followed by Bank Nifty (2.76%), CNX Finance (2.60%), CNX PSU Bank (1.80%) and CNX Service (1.44%). On the other hand, CNX Energy took the most of the losses among indices plunging by -0.92% and joined-in by CNX Commodities (-0.73%), CNX PSE (-0.67%), CNX MNC (-0.49%) and CNX Metal (-0.17%).
Market breadth remained positive today on NSE as 695 stocks rose against 490 declined while 48 remain unchanged.
Out of 50 stocks of Nifty index, 28 advanced and 22 declined.
Top Five Nifty gainers: DLF led the Nifty Gainers list and registered 6.99% gain joined by Ranbaxy (5.90%), IndusInd Bank (4.66%), Axis Bank (3.98%) and ICICI Bank (3.45%).
Top Five Nifty Losers: Tata Power was the biggest loser today and fell by -3.88% followed by Sesagoa (-3.18%), NTPC (-2.61%), ONGC (-2.18%) and Hindustan Unilever (-1.82%).
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