Indian markets ended lower on Monday led byrealty,oil &gasand banking stocks. Parliament session remained disrupted for ninth consecutive day, along with weaker manufacturing data released which shows the numbers at nine-month low levels underpinned the bearish sentiments.European markets had opened weak but recovered later on hopes of easing interest rates after weaker China data was released.
At the close, the benchmark 30-share index, BSE Sensex declined 45.16 points or 0.26% at 17,384.40 with 18 components registering drop, while the broad based NSE Nifty closed flat with a decline of 4.75 points or 0.09%, at 5,253.75.33 components posting drop.
Market players are eyeing the ECB meeting scheduled this Thursday to discuss on interest rates for Eurozone. Meanwhile, in the last awaited US Federal Reserve Chairman Ben Bernanke" speech, he has indicated to provide further stimulus if needed.
Commenting on technical outlook on markets, Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, "Nifty has witnessed selling pressure in last 10 trading sessions. However, last two trading sessions saw Nifty getting support from around its 50-EMA of 5255, which is a positive indicator. However, if the level of 5250-5240 is broken further, it may lead to further selling pressure. For the coming sessions, if Nifty goes below 5250, likely targets on the downsides are 5200-5170. And if it sustains above 5300, likely targets on the upsides will be 5350-5400."
Sensex Movers
Reliance Industries contributed fall of 16.14 points in the Sensex. It was followed by HDFC Bank (10.88 points), Oil & Natural Gas Corporation (8.31 points), ICICI Bank (7.94 points) and Tata Motors (6.47 points).
However, Larsen & Toubro contributed rise of 7.69 points in the Sensex. It was followed by Maruti Suzuki India (3.46 points), Bharat Heavy Electricals (2.11 points), Bharti Airtel (1.95 points) and State Bank Of India (1.33 points).
Biggest gainers in the 30-share index were Bajaj Auto (3.04%), Coal India (2.18%), Maruti Suzuki India (1.79%), Cipla (1.79%), Bharat Heavy Electricals (0.98%), and Larsen & Toubro (0.88%).
On the other hand, Jindal Steel & Power (2.23%), Tata Power Company (1.91%), Tata Motors (1.24%), Tata Steel (1.23%), Oil & Natural Gas Corporation (1.20%), and Mahindra & Mahindra (1.03%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.09% and 0.03% respectively. The major gainers in the BSE Midcap were A I A Engineering (2.57%), CORE Education and Technologies (1.1%), A B G Shipyard (0.43%), Amara Raja Batteries (0.2%) and Alstom India (0.15%).The major gainers in the BSE Smallcap were Advanta India (10.08%), Aarti Industries (4.92%), A2Z Maintenance & Engineering Services (2.06%), Aanjaneya Lifecare (0.98%) and Aegis Logistics (0.55%).
Sectors in Limelight
The Realty index was at 1,497.89, down by 13.02 points or by 0.86%. The major losers were DB Realty (3.2%), Indiabulls Real Estate (2.77%), Anant Raj Industries (2.11%), Godrej Properties (1.17%) and DLF (0.64%).
The Oil & Gas index was at 8,145.88, down by 65.65 points or by 0.8%. The major losers were Hindustan Petroleum Corporation (1.87%), Gujarat State Petronet (1.39%), Indian Oil Corporation (0.61%), GAIL (India) (0.54%) and Oil India (0.38%).
The Bankex index was at 11,441.51, down by 74.43 points or by 0.65%. The major losers were H D F C Bank (0.82%), Bank Of Baroda (0.7%), ICICI Bank (0.64%), Bank Of India (0.52%) and Indusind Bank (0.08%).
On the other hand, the IPO index was at 1,464.28, up by 14.67 points or by 1.01%. The major gainers were Bajaj Corp (6.92%), Bedmutha Industries (5%), Coal India (2.18%), Career Point (1.62%) and Claris Lifesciences (1.31%).
Market Breadth
Market breadth was negative with 1,445 advances against 1,435 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 795.76 million. It was followed by State Bank Of India (Rs. 612.17 million), JSW Steel (Rs. 547.38 million) and Axis Bank (Rs. 337.78 million).
The volume chart was led by Cals Refineries with trades of over 11.94 million shares. It was followed by Jain Irrigation Systems (4.97 million), Kingfisher Airlines (4.71 million) and IFCI (4.11 million).
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