Nifty falls 0.45% to close below 5,700; CD, IT drag
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 registering drop.
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 Movers
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 Sensex.
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 declines.
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 (3.00 million).
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