Weakness persists; Bankex, PSU drag Analysis for Oct 07, 2013

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Dragged by profit booking in sectors including banking, PSUs and realty, the 30-share benchmark index continued its downtrend movement during the noon trading session.

At 1:22PM BSE SENSEX was at 19806.71, down by 109.24 points or by 0.55 per cent, while the NSE Nifty was at 5851.5, down by 55.8 points or by 0.94 per cent.

The investors remained cautious on the uncertainty over US political impasse as politicians in Washington showed no signs of making progress to resolve the U.S. budget standoff and ahead of the Q2 earnings season.

Among the individual heavyweights, selling pressure was primarily observed in Coal India, ICICI Bank, HDFC Bank, HDFC, LNT and Bharti Airtel among others.

The BSE Sensex touched an intraday high of 19888.41 and an intraday low of 19647.88, while the NSE Nifty touched an intraday high of 5895.25 and an intraday low of 5825.85.The BSE MIDCAP was at 5744.7, up by 13.69 points or by 0.24 per cent, while the BSE SMLCAP was at 5585.98, up by 20.44 points or by 0.37 per cent.

The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 300.40,-3.10%), ICICI Bank Ltd. (Rs. 906.85,-2.54%), HDFC Bank Ltd. (Rs. 625.00,-2.40%), Bharti Airtel Ltd. (Rs. 323.55,-1.40%), Larsen & Toubro Ltd. (Rs. 809.00,-1.35%), among others.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 297.60,+3.17%), Hindalco Industries Ltd. (Rs. 121.40,+3.01%), Jindal Steel & Power Ltd. (Rs. 240.45,+1.69%), Bharat Heavy Electricals Ltd. (Rs. 145.55,+1.11%), Dr. Reddy's Laboratories Ltd. (Rs. 2391.50,+0.97%), among others.

In BSE, BSE_PSU index was at 5493.55 down by -45.78 points or by -0.83%. Coal India Ltd. (Rs. 300.40,-3.10%), Bank of Maharashtra (Rs. 38.85,-2.39%), NMDC Ltd. (Rs. 121.80,-1.85%), Container Corporation of India Ltd. (Rs. 694.70,-1.77%), Union Bank of India (Rs. 112.85,-1.61%),.

In BSE, BSE_Bankex index was at 11364.18 down by -246.82 points or by -2.13%. ICICI Bank Ltd. (Rs. 906.85,-2.54%), HDFC Bank Ltd. (Rs. 625.00,-2.40%), Axis Bank Ltd. (Rs. 1068.05,-2.37%), Kotak Mahindra Bank Ltd. (Rs. 682.15,-1.83%), YES Bank Ltd. (Rs. 309.80,-1.71%),.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total 2316 shares traded, 1059 shares advanced, 1095 shares declined while 162 remained unchanged.

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Story first published: Monday, October 7, 2013, 13:48 [IST]
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