Mid-Market—Choppy Indian markets shrug off RBI Guv"s appointment Analysis for Aug 07, 2013

Posted By: Religare
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Indian markets remained choppy and till the noon trade, the benchmark indices had no hint of pullback after they plunged over 2 per cent on Tuesday in line with the slumping rupee. Rupee was under pressure again on Wednesday, trading around 61.33/USD, signaling that the decision to appoint Raghuram Rajan as new RBI governor will not keep driving the markets. Nifty has slipped below the 5600 level for the first time since April 2012 but, mid- and small-cap stocks witnessed some relief finally today. Rate sensitive stocks stay under pressure due to liquidity concerns.

At 12:24PM BSE SENSEX was at 18699.51 down by 33.53 points or by 0.18 per cent while NSE Nifty was at 5536.55 down by 5.7 points or by 0.1 per cent.

The BSE MIDCAP was at 5329.85 up by 28.07 points or by 0.53 per cent, while the BSE SMLCAP was at 5141.81 up by 40.57 points or by 0.8 per cent.

The top gainers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 74.00,+3.71%), State Bank of India (Rs. 1699.10,+3.56%), Sterlite Industries (India) Ltd. (Rs. 73.60,+3.08%), Jindal Steel & Power Ltd. (Rs. 200.70,+2.71%), Tata Steel Ltd. (Rs. 203.70,+2.57%), among others.

The top losers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 729.50,-2.93%), Tata Motors Ltd. (Rs. 281.65,-1.98%), ITC Ltd. (Rs. 323.80,-1.97%), Larsen & Toubro Ltd. (Rs. 780.95,-1.80%), Tata Consultancy Services Ltd. (Rs. 1840.50,-1.60%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2179, shares advanced were 1054 while 1001 shares declined and 124 were unchanged.

In BSE, BSE_FMCG index was at 6524.96 down by -60.44 points or by -0.92%. Jubilant Foodworks Ltd. (Rs. 1075.35,-2.34%), ITC Ltd. (Rs. 323.80,-1.97%), Nestle India Ltd. (Rs. 5034.30,-1.32%), Dabur India Ltd. (Rs. 158.40,-1.00%), Colgate-Palmolive (India) Ltd. (Rs. 1253.00,-0.85%),.

In BSE, BSE Auto index was at 10145.78 down by -79.37 points or by -0.78%. Tata Motors Ltd. (Rs. 281.65,-1.98%), Motherson Sumi Systems Ltd. (Rs. 207.70,-1.40%), Bajaj Auto Ltd. (Rs. 1791.30,-1.00%), Maruti Suzuki India Ltd. (Rs. 1323.60,-0.78%), Hero MotoCorp Ltd. (Rs. 1837.60,-0.60%),.

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Story first published: Wednesday, August 7, 2013, 12:48 [IST]
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