Indian markets settled the choppy sessionon a tepid note. It remained range-bound the entire day. Market breadth was good and volumes were lower than last trading session, but above the normal average levels. Buying was seen in select midcaps which continued to outperform the benchmark indices. European indices opened lower as weak German data renewed worries over economic slowdown and investors were cautious. This also affected the market sentiment.
Among the sectoral indices, Realty sector extended its gain and was the top gainer. After the approval cleared for allowing 51% FDI in multi-brand retail segment, investors are betting on growth in real estate. After correcting for last couple of days, FMCG also showed strength from lower levels. Metal was the top loser followed by Auto and Oil & Gas. Nidhi Sarswat, sr.research analyst, Bonanza Portfolio said, "Nifty is showing a choppy session for last two trading sessions and moving in narrow range of 5,650-5,710. After a major rally witnessed in last two weeks, some consolidation and profit-booking at higher levels is quite reasonable and also provides a base for further buying momentum. Today also Nifty has closed above 5,650 level which is a positive indicator in near term. RSI has reached overbought region and is above 70 level, indicating further selling pressure may be seen in coming sessions. In coming sessions, 5,650 shall be crucial level on the downside. Below 5,650, likely downside targets are 5,625-5,575, while above 5,720, likely target on the upside are 5,775-5,825."
At the close, the benchmark 30-share index, BSE Sensex added 21.07 pointsor 0.11% at 18,694.41 with 12 components registering rise. while the broad based NSE Nifty closed flat with a gain of 4.30 points or 0.08%, at 5,673.90.23 components registering rise.Sensex Movers
ITC contributed rise of 31.35 points in the Sensex. It was followed by Housing Development Finance Corporation (17.98 points), Hindustan Unilever (11.76 points), Reliance Industries (7.65 points) and HDFC Bank (6.66 points).
However, Tata Motors contributed fall of 10.2 points in the Sensex. It was followed by Oil & Natural Gas Corporation (8.59 points), ICICI Bank (5.66 points), Maruti Suzuki India (5.37 points) and Tata Steel (4.83 points).
Biggest gainers in the 30-share index were Bharat Heavy Electricals (2.67%), Cipla (1.92%), ITC (1.86%), Hindustan Unilever (1.75%), Housing Development Finance Corporation (1.28%), and Mahindra & Mahindra (1.00%).
On the other hand, Jindal Steel & Power (4.35%), Maruti Suzuki India (2.42%), Sterlite Industries (India) (2.31%), Tata Motors (1.66%), Tata Steel (1.48%), and Oil & Natural Gas Corporation (1.17%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.46% and 0.53% respectively. The major gainers in the BSE Midcap were Alok Industries (3.38%), ABG Shipyard (1.67%), Amtek Auto (0.63%), AIA Engineering (0.57%) and CORE Education and Technologies (0.03%).The major gainers in the BSE Smallcap were Reliance MediaWorks (2.85%), Advanta India (1.25%), A2Z Maintenance & Engineering Services (1.21%), Styrolution ABS (India) (0.61%) and Aarti Industries (0.06%).
Sectors in Limelight
The Realty index was at 1,840.77, up by 37.57 points or by 2.08%. The major gainers were Anant Raj Industries (19.48%), Godrej Properties (3.85%), Indiabulls Real Estate (1.12%), D B Realty (0.62%) and DLF (0.51%).
The FMCG index was at 5,314.31, up by 96.78 points or by 1.85%. The major gainers were United Breweries (7.02%), Godrej Consumer Products (2.31%), ITC (1.86%), Hindustan Unilever (1.75%) and Dabur India (0.12%).
The Consumer Durables index was at 6,732.06, up by 50.43 points or by 0.75%. The major gainers were Bajaj Electricals (5.31%), C.Mahendra Exports (3.4%), Gitanjali Gems (1.46%), Rajesh Exports (1.1%) and Blue Star (0.2%).
On the other hand, the Metal index was at 10,563.01, down by 145.35 points or by 1.36%. The major losers were Jindal Steel & Power (4.35%), Hindustan Zinc (0.8%), NMDC (0.47%), JSW Steel (0.31%) and Coal India (0.28%).
Market Breadth
Market breadth was positive with 1,575 advances against 1,363 declines.
Value and Volume Toppers
Bayer CropScience topped the value chart on the BSE with a turnover of Rs. 6,175.50 million. It was followed by United Spirits (Rs. 1,954.86 million), State Bank Of India (Rs. 1,284.43 million) and Cairn India (Rs. 1,255.03 million).
The volume chart was led by Kingfisher Airlines with trades of over 13.12 million shares. It was followed by Lanco Infratech (8.27 million), Spicejet (6.21 million) and Housing Development and Infrastructure (6.11 million).
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