Sensex ends flat; Mid and small-caps outperform
10th September 2012 05:18 PM
Indian markets settled flat on Monday tracking mixed cues from global markets. It remained directionless for most part of the trading day. European indices were mixed during opening trade and US futures too signaled a muted start.Buying was particularly stock-specific and also seen in some of the midcap stocks. Profit-booking was also seen in most of the stocks which has gained substantially in last week, like Reliance and ICICI Bank. Among the major sectoral indices, consumer durables, metals and auto outperformed the benchmark indices and ended on a positive zone. Realty was the worst performer followed by banking, power, FMCG and IT.This week is filled with key events which may further give direction to market in near term. IIP data shall be released on September 12, while Inflation figures for August shall come on September 14. Advance tax data for the 2nd installment is also due on September 15 and could provide signals on the likely corporate earnings for second quarter of FY13.Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, "Nifty has shown smart recovery from its 50-EMA level after the ECBâ™s positive outcome on bond-buying program was announced. However, it will continue to face stiff resistance near 5400-5450 level in coming sessions, as these have been significant in medium term perspective, and strong volumes are needed to break above these levels." "This week if Nifty sustains above 5375, likely upside target shall be 5400-5450. On the other hand, if it goes below 5300 level, further selling pressure is likely up to 5280-5250," Sarswat opined.
Housing Development Finance Corporation contributed rise of 15.55 points in the Sensex. It was followed by Bharti Airtel (9.1 points), Sun Pharmaceutical Industries (8.77 points), Infosys (8.43 points) and Tata Motors (6.83 points).
However, State Bank Of India contributed fall of 10.72 points in the Sensex. It was followed by I C I C I Bank (9.05 points), Reliance Industries (8.94 points), Tata Consultancy Services (7.47 points) and Hindustan Unilever (5.92 points).
Major gainers in the 30-share index were Sun Pharmaceutical Industries (2.63%), Bharti Airtel (2.32%), Coal India (1.76%), Tata Steel (1.63%), Tata Motors (1.28%), and Bajaj Auto (1.19%).
On the other hand, Jindal Steel & Power (2.16%), Bharat Heavy Electricals (2.15%), State Bank Of India (1.80%), Tata Power Company (1.19%), Wipro (1.17%), and Cipla (0.96%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.28% and 0.70% respectively. The major gainers in the BSE Midcap were A I A Engineering (2.8%), CORE Education and Technologies (2.55%), Aban Offshore (1.92%), Allcargo Logistics (0.41%) and Alstom India (0.03%).The major gainers in the BSE Smallcap were Action Construction Equipment (19.79%), A2Z Maintenance & Engineering Services (5.49%), Aarti Industries (4.62%), Trident (1.5%) and Aanjaneya Lifecare (0.02%).
Sectors in Limelight
The Consumer Durables index was at 6,462.01, up by 63.18 points or by 0.99%. The major gainers were VIP Industries (5.81%), Titan Industries (2.4%), Videocon Industries (0.43%) and TTK Prestige (0.38%).
The Realty index was at 1,539.90, down by 12.09 points or by 0.78%. The major losers were Housing Development and Infrastructure (3.27%), Indiabulls Real Estate (1.45%), DB Realty (1.34%), DLF (1.03%) and Anant Raj Industries (0.79%).The Bankex index was at 11,557.31, down by 89.14 points or by 0.77%. The major losers were Indusind Bank (1.31%), Bank Of India (1.15%), ICICI Bank (0.72%), Federal Bank (0.68%) and HDFC Bank (0.09%).
Market breadth was positive with 1,556 advances against 1,336 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 623.17 million. It was followed by United Spirits (Rs. 535.94 million), Tata Steel (Rs. 340.02 million) and Adani Enterprises (Rs. 312.90 million).
The volume chart was led by Cals Refineries with trades of over 12.84 million shares. It was followed by Kingfisher Airlines (3.48 million), Spicejet (3.34 million) and Deccan Chronicle Holdings (2.53 million).
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