Mid-Market—Sensex off day"s low as rupee recovers from all-time low Analysis for Aug 28, 2013

Posted By: Religare
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Indian markets remained jittery, though off the session"s low level, as rupee came off its all-time low level of 68.80/USD after Reserve Bank of India (RBI) intervened in the forex market. The 30-share benchmark index Sensex was trading down by nearly 1 per cent during the mid-session, weighed down by heavyweight stocks like HDFC, ONGC, ICICI Bank, RIL, among others. IT stocks were however providing some relief to the markets. Concerns in the past few days have been moving towards fiscal deficit of India which is seen exceeding the targets because of food bill as well as rising crude prices.

At 1:04PM BSE SENSEX was at 17855.29 down by 112.79 points or by 0.63 per cent while NSE Nifty was at 5218.1 down by 69.35 points or by 1.31 per cent.

The BSE MIDCAP was at 5184.67 down by 93.61 points or by 1.77 per cent, while the BSE SMLCAP was at 5126.88 down by 72.78 points or by 1.4 per cent.

The top gainers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 1897.50,+3.29%), Wipro Ltd. (Rs. 466.50,+2.55%), Jindal Steel & Power Ltd. (Rs. 235.00,+2.15%), ITC Ltd. (Rs. 303.00,+1.90%), Infosys Ltd. (Rs. 3107.20,+1.61%), among others.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 237.40,-8.43%), Housing Development Finance Corporation Ltd. (Rs. 642.45,-6.46%), GAIL (India) Ltd. (Rs. 278.50,-4.97%), Coal India Ltd. (Rs. 247.45,-4.86%), Bharti Airtel Ltd. (Rs. 284.65,-3.26%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2090, shares advanced were 544 while 1427 shares declined and 119 were unchanged.

In BSE, BSE_PSU index was at 4844.01 down by 175.44 points or by 3.5%. United Bank of India (Rs. 30.00,-9.23%), Oil And Natural Gas Corporation Ltd. (Rs. 237.40,-8.43%), Bharat Petroleum Corporation Ltd. (Rs. 267.70,-7.74%), Hindustan Petroleum Corporation Ltd. (Rs. 164.80,-7.29%), Indian Bank (Rs. 63.20,-5.53%),.

In BSE, BSE Oil&Gas index was at 7748.1 down by 210.25 points or by 2.64%. Oil And Natural Gas Corporation Ltd. (Rs. 237.40,-8.43%), Bharat Petroleum Corporation Ltd. (Rs. 267.70,-7.74%), Hindustan Petroleum Corporation Ltd. (Rs. 164.80,-7.29%), GAIL (India) Ltd. (Rs. 278.50,-4.97%), Oil India Ltd. (Rs. 421.00,-4.96%),.

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Story first published: Wednesday, August 28, 2013, 13:24 [IST]
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