Sensex down over 30 points; rate sensitive stocks weigh Analysis for Jun 18, 2013

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The 30-share benchmark index continued to trade range-bound with negative bias on concerns over slowing economic growth, amid caution ahead of the US Federal Open Market Committee meeting starting today. At 11:19AM, BSE SENSEX was at 19297.05, down by 28.82 points, or by 0.15 per cent, while, the NSE Nifty was at 5835.2, down by 14.85 points, or by 0.25 per cent.

The rate sensitive stocks like Tata Motors, ICICI Bank and HDFC Bank felt the maximum heat of fall post the Reserve Bank of India"s decision on Monday to halt its rate easing cycle, following the rupee's sharp fall since May and inflationary concerns.

However, Tata Power, Reliance Industries, Infosys, Tata Steel and Hero Moto Corp saw some buying interest and were marginally up over 1 per cent.

The BSE Sensex touched an intraday high of 19334.07 and an intraday low of 19227.11, while the NSE Nifty touched an intraday high of 5843.95 and an intraday low of 5815.15.The BSE MIDCAP was at 6229.29, up by 28.04 points, or by 0.45 per cent, while the BSE SMLCAP was at 5822.37, up by 27.15 points, or by 0.47 per cent.

Among the sectors, Bankex and consumer durables index declined and shed over 0.51 per cent and 0.71 per cent respectively.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 295.00,-1.52%), ICICI Bank Ltd. (Rs. 1090.25,-1.02%), Hindalco Industries Ltd. (Rs. 101.00,-0.98%), Cipla Ltd. (Rs. 376.50,-0.96%), NTPC Ltd. (Rs. 149.00,-0.86%), among other.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 83.00,+0.85%), Reliance Industries Ltd. (Rs. 831.40,+0.76%), Infosys Ltd. (Rs. 2439.00,+0.72%), Tata Steel Ltd. (Rs. 278.55,+0.67%), Hero MotoCorp Ltd. (Rs. 1634.30,+0.65%), among others.

The Market breadth, indicating the overall health of the market, was positive. On BSE out of total 1743 shares traded, 899 shares advanced, 741 shares declined while 103 remained unchanged.

Among the other Asian peers, most of the indices declined amid looming uncertainty over the Federal Reserve"s bond-buying plans. Japan"s Nikkei 225 was trading down over 57 points followed by Shanghai Composite and Hang Seng which were down by 2.88 and 141 points respectively.

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Story first published: Tuesday, June 18, 2013, 11:48 [IST]
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