Indian marketssettled lower on Wednesdaytracking weak cues from global markets.The marketremained in a narrow range for the whole day amid volatilityahead F&O expiry tomorrow. The market breadth was marginally negative and volumes were lower than last trading session. Buying was seen in select midcaps which continued to outperform the benchmark indices. European indices opened lower ahead of Spain outcome later in this week and this also underscored the negative sentiment. At the close, the benchmark 30-share index, BSE Sensex lost 62.24 pointsor 0.33% at 18,632.17 with 19 components registering drop. Meanwhile, the broad based NSE Nifty went down by 10.45 points or 0.18% at 5,663.45 with 33 components posting drop.Among the sectoral indices, FMCG was the top gainer. This sector is seeing renewed buying from lower levels after correcting in last two weeks. Oil & Gas sector also recovered from lower levels and was marginally in positive zone. Metal was top loser followed by PSUs and Power sector. Nidhi Sarswat, senior research analyst, Bonanza Portfolio, said, "Nifty has entered a range-bound trend for last three trading sessions, showing indecision in the market and trading in 5,640-5,710 levels. It is also on account of profit-booking in most of the heavyweights after a strong rally witnessed in last two weeks. Volatility is high and buying is seen at lower levels. Nifty is getting near term support from 5,640-5,650 level on closing basis and this shall also be crucial deciding level in short term. Market correction may prove to be positive by providing 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, below 5650, likely downside targets are 5,625-5,575, while above 5720, likely target on the upside are 5,775-5,825."
Sensex Movers
Bharti Airtel contributed fall of 17.06 points in the Sensex. It was followed by Housing Development Finance Corporation (15.33 points), HDFC Bank (13.77 points), Tata Motors (13.07 points) and Larsen & Toubro (8.27 points).
However, ITC contributed rise of 17.44 points in the Sensex. It was followed by State Bank Of India (9.81 points), Reliance Industries (8.96 points), ACC (4.98 points) and Hero Motocorp (3.59 points).
Major gainers in the 30-share index were Cipla (2.66%), Hero Motocorp (1.59%), State Bank Of India (1.41%),ITC (1.04%), Wipro (0.70%), and GAIL (India) (0.53%).
On the other hand, Bharti Airtel (3.93%), Coal India (2.81%), Hindalco Industries (2.22%), Tata Motors (2.14%), Dr Reddy"s Laboratories (1.57%), and Tata Steel (1.16%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.27% and 0.65% respectively. The major gainers in the BSE Midcap were Aban Offshore (3.11%), AIA Engineering (2.01%), Allcargo Logistics (1.31%), CORE Education and Technologies (0.72%) and Amara Raja Batteries (0.59%).The major gainers in the BSE Smallcap were Aarti Industries (2.6%), ABG Infralogistics (0.23%), Adhunik Metaliks (0.18%), Styrolution ABS (India) (0.11%) and Reliance MediaWorks (0.06%).
Sectors in Limelight
The Metal index was at 10,439.32, down by 123.69 points or by 1.17%. The major losers were Coal India (2.81%), Hindalco Industries (2.22%), Bhushan Steel (0.71%), JSW Steel (0.55%) and Jindal Steel & Power (0.22%).
The TECk index was at 3,418.12, down by 23.37 points or by 0.68%. The major losers were Bharti Airtel (3.93%), Mphasis (2.25%), D B Corp (1.03%), Idea Cellular (0.64%) and Oracle Financial Services Software (0.59%).
The PSU index was at 7,383.54, down by 42.23 points or by 0.57%. The major losers were Bank Of Baroda(0.92%), Andhra Bank (0.9%), Bank Of Maharashtra (0.41%), Bank Of India (0.15%) and Balmer Lawrie & Company (0.14%).
On the other hand, the FMCG index was at 5,349.05, up by 34.74 points or by 0.65%. The major gainers were Colgate-Palmolive (India) (2.86%), Jubilant FoodWorks (1.22%), ITC (1.04%), United Spirits (0.86%) and Hindustan Unilever (0.11%).
Market Breadth
Market breadth was negative with 1,486 advances against 1,473 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 1,963.21 million. It was followed by State Bank Of India (Rs. 1,304.80 million), Max India (Rs. 1,144.38 million) and Pantaloon Retail (India) (Rs. 1,011.33 million).
The volume chart was led by Kingfisher Airlines with trades of over 23.50 million shares. It was followed by Spicejet (16.25 million), Lanco Infratech (8.63 million) and Housing Development and Infrastructure (7.50 million).
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