Mid-Market- Sensex remains in the red as Asian markets struggle Analysis for Jun 05, 2013

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The key domestic benchmarks were poised to register the fourth straight day of losses as the Sensex shed 61 points in noon trade tracking weak cues from Asian peers which fell amid concerns that the US Federal Reserve may scale back QE as the world"s biggest economy improves. A reduction in monetary stimulus could hurt fund inflows into emerging markets such as India. On the domestic front, investors are eying the RBI policy meet this month while the movement of the rupee and timely arrivals of the monsoon rains may also offer short-term direction to markets.

At 12:16PM, the BSE SENSEX was at 19,484.43, down by 61.35 points or by 0.31 per cent and then NSE Nifty was at 5,896.7, down by 22.75 points or by 0.38 per cent.

The BSE Sensex touched intraday high of 19,564.91 and intraday low of 19,441.35. The NSE Nifty touched intraday high of 5,921.8 and intraday low of 5,883.

Meanwhile, the BSE MIDCAP was at 6,408.39, down by 4.04 points or by 0.06 per cent, while the BSE SMLCAP was at 5,960.79, up by 8.57 points or by 0.14 per cent.

On the Sectoral front, FMCG and IT shed 1.08 per cent and 0.60 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2057, shares advanced were 881 while 1045 shares declined and 131 were unchanged.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 331.60,-1.73%), Coal India Ltd. (Rs. 321.00,-1.23%), Infosys Ltd. (Rs. 2469.50,-1.02%), Housing Development Finance Corporation Ltd. (Rs. 846.35,-1.01%), Bajaj Auto Ltd. (Rs. 1755.35,-0.77%), among others.

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Story first published: Wednesday, June 5, 2013, 14:20 [IST]
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