Nifty falls 0.45% to close below 5,700; CD, IT drag
Published: 23rd October 2012 05:18 PM
Last Updated: 23rd October 2012 05:18 PM
Indian equities ended lower on Tuesday led by losses seen in
consumer durables,IT and FMCG stocks. At the close, the benchmark
30-share index, BSE Sensex declined 83.42 or 0.44% at 18,710.02
with 23 components posting drop. Meanwhile, the broad based NSE
Nifty fell by 25.75 or 0.45% at 5,691.40 with 42 components
Nidhi Sarswat, senior research analyst, Bonanza Portfolio said,
''In the coming sessions, 5,635 level on the downside and 5,725
level on the upside shall be deciding levels. If it goes above
5,725, further buying momentum is likely for a target of
5765-5,850. Second quarterly results for FY13 have already begun
and shall be in focus in coming sessions. For the coming sessions,
Asian Paints, M&M, Kotak Bank, OBC, HUL, ICICI Bank, PNB, NTPC,
IDFC,HDFC, LT, Bank Baroda, Kotak Bank, HUL, Dabur, ICICI Bank,
NTPC, GAIL and IDFC are some of the prominent companies which shall
be announcing their Q2 results and some stock specific action may
be seen. Also, because of holidays, some cautious trading is also
likely. Also, because of roll-over of positions in the FO segment
on coming Thursday, high intraday volatility may be seen.''Sensex
ITC contributed fall of 23.74 points in the Sensex. It was
followed by Infosys (19.59 points), HDFC Bank (12.75 points),
Reliance Industries (9.92 points) and Oil & Natural Gas
Corporation (6.16 points).
However, Larsen & Toubro contributed rise of 20.51 points in
the Sensex. It was followed by ICICI Bank (7.55 points), Hindustan
Unilever (1.16 points), Housing Development Finance Corporation
(0.18 points) and Maruti Suzuki India (0.26 points).
Major gainers in the 30-share index were Larsen & Toubro
(1.91%), ICICI Bank (0.53%), Coal India (0.18%), Hindustan Unilever
(0.16%), Dr Reddy's Laboratories (0.13%), and Cipla (0.11%).
On the other hand, Jindal Steel & Power (2.43%), Hero
Motocorp (1.90%), Hindalco Industries (1.56%), Infosys (1.42%), ITC
(1.29%), and GAIL (India) (1.05%) were the biggest losers in the
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger
counterparts declining -0.23% and -0.25% respectively.The major
losers in the BSE Midcap were Amtek India (2.64%), Alstom India
(1.4%), Andhra Bank (1.22%), Anant Raj Industries (0.37%) and CORE
Education and Technologies (0.27%).The major losers in the BSE
Smallcap were Adhunik Metaliks (5.41%), Aarti Industries (0.81%),
Styrolution ABS (India) (0.53%), Trident (0.45%) and A2Z
Maintenance & Engineering Services (0.31%).
Sectors in Limelight
The Consumer Durables index was at 7,228.50, down by 71.33
points or by 0.98%. The major losers were C.Mahendra Exports
(4.85%), Rajesh Exports (2.05%), Titan Industries (1.54%), Blue
Star (1.43%) and Bajaj Electricals (0.29%).
The IT index was at 5,697.59, down by 50.43 points or by 0.88%.
The major losers were Infosys (1.42%), Oracle Financial Services
Software (0.81%), HCL Technologies (0.41%), Mphasis (0.3%) and CORE
Education and Technologies (0.27%).
The FMCG index was at 5,822.58, down by 49.39 points or by
0.84%. The major losers were United Spirits (2.09%), Jubilant
FoodWorks (1.66%), ITC (1.29%), Colgate-Palmolive (India) (0.98%)
and United Breweries (0.38%).
On the other hand, the Capital Goods index was at 11,313.78, up
by 101.30 points or by 0.90%. The major gainers were AIA
Engineering (3.45%), Larsen & Toubro (1.91%), BEML (1.55%),
Pipavav Defence and Offshore Engineering Company (0.38%) and Alstom
T&D India (0.32%).
Market breadth was negative with 1,338 advances against 1,521
Value and Volume Toppers
Larsen & Toubro topped the value chart on the BSE with a
turnover of Rs. 745.56 million. It was followed by State Bank Of
India (Rs. 650.81 million), United Spirits (Rs. 584.18 million) and
Reliance Industries (Rs. 515.35 million).
The volume chart was led by Firstsource Solutions with trades of
over 6.57 million shares. It was followed by TV18 Broadcast (4.57
million), Suzlon Energy (4.27 million) and L&T Finance Holdings