Sensex remains volatile; Power, PSU stocks lose Analysis for Sep 17, 2013

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The market turned directionless as the Sensex swung between negative and positive zone during the noon trading session ahead of the outcome of the US Federal Reserve"s two-day policy meeting.

At 1:14PM, BSE SENSEX was at 19760.92 up by 18.45 points or by 0.09 per cent while the NSE Nifty was at 5837.5 down by 3.05 points or by 0.05 per cent.

Meanwhile, the investors remained cautious and are eyeing the Reserve Bank of India's monetary policy later this week.

However, some positive buying was observed in IT, teck, metal and auto sectors, while power, PSU, consumer durables, banking and capital goods sectors were losing sheen on the D-street.

The BSE Sensex touched an intraday high of 19809.28 and an intraday low of 19635.44, while the NSE Nifty touched an intraday high of 5853.95 and an intraday low of 5804.9.The BSE MIDCAP was at 5583.4 down by 15.29 points or by 0.27 per cent, while the BSE SMLCAP was at 5468.93 down by 8.78 points or by 0.16 per cent.

The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2323.00,+4.49%), Wipro Ltd. (Rs. 470.25,+4.28%), Sesa Goa Ltd. (Rs. 182.70,+3.10%), Maruti Suzuki India Ltd. (Rs. 1381.35,+1.61%), Mahindra & Mahindra Ltd. (Rs. 847.85,+1.33%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 546.00,-2.92%), Oil And Natural Gas Corporation Ltd. (Rs. 279.85,-2.46%), NTPC Ltd. (Rs. 139.70,-2.24%), Housing Development Finance Corporation Ltd. (Rs. 800.50,-1.65%), Hero MotoCorp Ltd. (Rs. 2069.00,-1.26%), among others.

In BSE, BSE_IT index was at 7757.87 up by 100 points or by 1.31%. Wipro Ltd. (Rs. 470.25,+4.28%), HCL Technologies Ltd. (Rs. 1029.95,+3.36%), Mahindra & Mahindra Ltd. (Rs. 1303.60,+1.91%), Tata Consultancy Services Ltd. (Rs. 1917.00,+0.80%), MindTree Ltd. (Rs. 1072.00,+0.71%),.

On the flip side, In BSE, BSE_Bankex index was at 11701.34 down by -102.92 points or by -0.87%. IndusInd Bank Ltd. (Rs. 401.20,-3.22%), Axis Bank Ltd. (Rs. 1052.20,-2.96%), Bank of Baroda (Rs. 520.00,-2.89%), Canara Bank (Rs. 220.35,-2.07%), Punjab National Bank (Rs. 502.00,-1.11%),.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total 2172 shares traded, 881 shares advanced, 1167 shares declined and 124 remained unchanged.

On the global front, the European market also turned negative and executed subdued cues on the domestic bourses. DAX and CAX were trading on the negative note down over 0.13 per cent and 0.19 per cent respectively. Meanwhile, FTSE was trading down by 0.24 per cent.

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Story first published: Tuesday, September 17, 2013, 13:36 [IST]
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