Tuesday 8 October 2013

Daily Equity Market Report – October 8, 2013

Indian benchmark indices, Sensex and Nifty both started the day in a very cheerful mood with opening approx. 1% over the previous close but soon followed the path of remorse and pared the intra-day gains on the back of profit booking at intra-day high levels in banking stocks. 50-share broad-based index Nifty closed at 5928.40, up by 22.25 points or 0.38%, while Sensex closed at the 19983.61 up by 88.51 points gaining by 0.44%.

Rate-sensitives like realty and capital goods remained top sectoral performers and added strength to the indices following the Reserve Bank of India's move to cut the marginal standing facility (MSF) rate by 50 basis points to 9% while metals and technology stocks were under pressure.

Among sectoral indices, CNX Infra marched ahead of all gaining by 1.80% and further joined-in by CNX Realty (1.23%), CNX FMCG (1.09%), and Bank Nifty (0.59%). On the losing side, CNX Media emerged as the biggest loser and fell by -1.58% and chased by CNX Metal (-0.77%) and CNX PSU Bank (-0.66%).

Market breadth on the NSE somehow remained on positive note with 629 gainers against 528 losers and 73 closing without any change.

Out of 50 stocks of Nifty, 23 advanced and 27 declined.

Top Five Nifty gainers: Bharti Airtel (2.51%), Larsen & Toubro (2.21%), ITC (2.09%), Jindal Steel (2.04%) and ICICI Bank (2.00%) were among the top Nifty gainers.

Top Five Nifty Losers: BPCL was the biggest Nifty loser today and plunged by -3.23% followed by Hindalco (-2.05%), SBIN (-2.02%), IDFC (-1.93%) and BHEL (-1.44%).

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