Indian markets ended the choppy F&O expiry session negative on Thursday led by oil & gas, IT and teck stocks. The BSE Mid and Small-cap index outperformed the benchmark indices. The Supreme court has clarified that there should not be across the board policy for auction. The SC has recognized that executive power lies with the government.
At the close, the benchmark 30-share index, BSE Sensex declined 52.67 pointsor 0.28% at 18,579.50 with 19 components registering drop. Meanwhile, the broad based NSE Nifty went down by 13.95 points or 0.25% at 5,649.50 with 31 components posting drop.
"Strong rollover into the October series with limited pending positions in index heavy weights resulted in a range bound expiry. On series basis, Nifty closed with gains of 6.30%; Bank-Nifty with gains of 13 percent and CNXIT with gains of 2.44%," said Sahaj Agrawal, AVP-Derivatives, Kotak Securities.
Commenting on outlook for the October series, Agrawal said, "5760 remains critical levels and sustenance above the same is important for up-move to continue. Failure to cross 5760 can result in profit booking pushing the index down to 5540 and lower. Implied Volatility for the Oct series Nifty index options are seen extremely low at 14-16 levels making them attractive to buy. We suggest going long on ATM straddle for the next month. Options concentration for Nifty is seen at 5700 call and 5300 put options. PSU Banking, OIL exploration and Pharma stocks are expected to trade with a positive bias."Sensex Movers
Reliance Industries contributed fall of 29.07 points in the Sensex. It was followed by Infosys (21.78 points), Oil & Natural Gas Corporation (14.46 points), ICICI Bank (12.47 points) and Tata Consultancy Services (11.85 points).
However, Larsen & Toubro contributed rise of 22.54 points in the Sensex. It was followed by ITC (21.04 points), Hindustan Unilever (10.65 points), State Bank Of India (5.71 points) and Tata Power Company (3.68 points).
Biggest gainers in the 30-share index were Larsen & Toubro (2.21%), Tata Power Company (1.85%), Hindustan Unilever (1.59%), ITC (1.25%), Maruti Suzuki India (1.02%), and State Bank Of India (0.82%).
On the other hand, Sterlite Industries (India) (2.93%), Hero Motocorp (2.37%), Oil & Natural Gas Corporation (1.97%), Bharat Heavy Electricals (1.92%), Reliance Industries (1.65%), and Infosys (1.47%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.49% and 0.15% respectively. The major gainers in the BSE Midcap were Apollo Hospitals Enterprise (1.98%), Delta Corp (1.59%), Amara Raja Batteries (0.71%), Apollo Tyres (0.56%) and Arvind (0.32%).The major gainers in the BSE Smallcap were ABG Infralogistics (3.04%), Reliance MediaWorks (2.14%), A2Z Maintenance & Engineering Services (1.95%), Adhunik Metaliks (0.35%) and Aanjaneya Lifecare (0.07%).
Sectors in Limelight
The Oil & Gas index was at 8,581.67, down by 139.67 points or by 1.6%. The major losers were Cairn India (2.05%), Hindustan Petroleum Corporation (1.67%), Bharat Petroleum Corporation (0.97%), GAIL (India) (0.42%) and Gujarat State Petronet (0.19%).
The IT index was at 5,889.60, down by 65.69 points or by 1.1%. The major losers were CORE Education and Technologies (2.78%), Infosys (1.47%), Oracle Financial Services Software (0.48%), Mphasis (0.28%) and Hexaware Technologies (0.17%).
The TECk index was at 3,387.56, down by 30.56 points or by 0.89%. The major losers were Bharti Airtel (1.41%), GTL Infrastructure (0.85%), HT Media (0.54%), Oracle Financial Services Software (0.48%) and Mphasis (0.28%).
On the other hand, the FMCG index was at 5,429.99, up by 80.94 points or by 1.51%. The major gainers were Jubilant FoodWorks (2.09%), Godrej Consumer Products (1.91%), Hindustan Unilever (1.59%), ITC (1.25%) and United Breweries (0.81%).
Market Breadth
Market breadth was positive with 1,537 advances against 1,372 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 3,173.78 million. It was followed by State Bank Of India (Rs. 1,165.13 million), United Breweries (Holdings) (Rs. 641.67 million) and Reliance Capital (Rs. 552.27 million).
The volume chart was led by Kingfisher Airlines with trades of over 23.90 million shares. It was followed by Mahanagar Telephone Nigam (11.86 million), Alok Industries (6.37 million) and Lanco Infratech (6.09 million).
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