Indian equities ended the volatile session on flat noteon Monday ahead of RBI policy tomorrow. Realty, auto and bankingstocks gained factoring a 25 bps ratecut in RBI policy. Oil & gas and consumer durables witnessed a fall. European indices were flat to negative as investors booked profit after strong gains, showing caution at higher levels.
At the close, the 30-share benchmark index, BSE Sensex ended flat with a decline of 0.18 pointsat 20,103.35, 15 components posting drop. while the broad based NSE Nifty closed flat with a gain of 0.15 points, at 6,074.80.23 components posting rise.Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, 'Inflation has eased a bit in last two months and sparked hopes for a rate cut. Some of the news, we feel has already been discounted in the recent rise. Market may surge if it receives positive surprise on rate cuts. Technically, 6090 level is crucial deciding level in near term, and index is likely to witness further rally above this level. In coming sessions, below 6050, likely support levels are 6020-5950, while above 6090, likely target is 6150-6175.'
Sensex Movers
Reliance Industries contributed fall of 29.84 points in the Sensex. It was followed by Oil & Natural Gas Corporation (15.1 points), Larsen & Toubro (8.86 points), State Bank Of India (7.3 points) and Housing Development Finance Corporation (5.97 points).
However, I C I C I Bank contributed rise of 24.23 points in the Sensex. It was followed by Tata Motors (16.73 points), H D F C Bank (12.25 points), I T C (6.17 points) and Wipro (4.24 points).
Major gainers in the 30-share index were Tata Motors (2.49%), Hero Motocorp (2.03%), Hindalco Industries (1.72%), Sterlite Industries (India) (1.60%), I C I C I Bank (1.52%), and Wipro (1.43%).
On the other hand, Oil & Natural Gas Corporation (1.76%), Reliance Industries (1.56%), Hindustan Unilever (0.98%), NTPC (0.97%), State Bank Of India (0.92%), and Larsen & Toubro (0.85%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.02% and 0.27% respectively. The major gainers in the BSE Midcap were Anant Raj (3.33%), Aban Offshore (2.14%), Amara Raja Batteries (1.07%), Allcargo Logistics (0.4%) and Andhra Bank (0.34%).The major gainers in the BSE Smallcap were Ahluwalia Contracts (India) (2.16%), Wagend Infra Venture (1.98%), Aegis Logistics (1.43%), Trident (0.79%) and Adhunik Metaliks (0.25%).
Sectors in Limelight
The Realty index was at 2,223.76, up by 40.13 points or by 1.84%. The major gainers were Anant Raj (3.33%), D L F (2.75%), Housing Development and Infrastructure (1.45%), Indiabulls Real Estate (0.92%) and Godrej Properties (0.85%).
The Auto index was at 11,185.31, up by 114.07 points or by 1.03%. The major gainers were Tata Motors (2.49%), Hero Motocorp (2.03%), Mahindra & Mahindra (0.56%), Maruti Suzuki India (0.44%) and Bajaj Auto (0.35%).
On the other hand, the Oil & Gas index was at 9,426.87, down by 108.97 points or by 1.14%. The major losers were Hindustan Petroleum Corporation (2.85%), Oil & Natural Gas Corporation (1.76%), Indian Oil Corporation (1.48%), Bharat Petroleum Corporation (0.95%) and Castrol India (0.15%).
Market Breadth
Market breadth was positive with 1,578 advances against 1,351 declines.
Value and Volume Toppers
Housing Development and Infrastructure topped the value chart on the BSE with a turnover of Rs. 941.45 million. It was followed by State Bank Of India (Rs. 812.04 million), Jet Airways (India) (Rs. 674.96 million) and Axis Bank (Rs. 441.14 million).
The volume chart was led by Suzlon Energy with trades of over 13.45 million shares. It was followed by Housing Development and Infrastructure (11.25 million), Unitech (6.87 million) and Lanco Infratech (4.38 million).
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