Daily Equity Market Report – November 5, 2013

Shunning the ongoing week-long optimism that led to scaling new highs, Indian markets lost the momentum today and took a U-turn. Profit-booking was seen across all the market-cap segments by the traders. Market also lacked any cues from its global peers and bulls were seen pausing for a breather after a record-breaking impulse.

Both the benchmark indices snapped their five-days ascending streak and remained under pressure throughout the day while participants focused their attention towards mid-cap & small-cap stocks. The 50-share index Nifty slipped down below the 6300 level and closed at 6253.15, down by 64.20 points or -1.02%. It was a volatile session for Nifty as it scaled high of 6304.75 and low of 6244.30 in today's intra-day trades. The Sensex closed the day at 20974.79, down 264.57 points or -1.25%, sliding under the 21000 level.

Mid-cap and small-cap shares seen voluminous trades today and offered a better risk-reward trade off as compared to large-caps which have already run up a fair bit during past week as well as month. IT, health-care and consumption led stocks were the big losers today. These three sectors were the real driving force behind the recent rally, and investors are seen cashing out of these stocks as present valuations seem to be factoring in most of the positives.

Today market was dominated by the sectors closing in red barring a few; i. e. CNX Media (0.96%), CNX PSU Bank (0.42%) and CNX Realty (0.39%). Whereas, on the other hand South-ward slippage was led by CNX FMCG (-2.61%) and equally followed by CNX Pharma (-1.84%), CNX MNC (-1.44%), CNX IT (-1.13%), CNX Consumption (-1.01%), Bank Nifty (-0.99%), CNX Service (-0.88%) and CNX Infra (-0.77%).

Market breadth was seen negative on NSE with 629 stocks advancing against 539 declining and 45 remaining unchanged.

Out of 50 stocks of Nifty, 18 gained while 32 declined.

Top Five Nifty Gainers: BPCL emerged as the top gainer on the Nifty today excelling by 2.47% and followed by NMDC (2.34%), DLF (2.10%), Asian Paints (2.02%) and J P Associates (1.64%).

Top Five Nifty Losers: ITC was the biggest loser on the Nifty plunging by -3.51% and chased by ICICI Bank (-3.29%), Power Grid (-3.20%), Dr. Redyy's (-3.03%) and Sun Pharma (-2.81%).

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