Weakness persists amid profit booking Analysis for Oct 23, 2013

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The 30-share benchmark index inched lower during the late morning trading session amid profit booking in index heavyweights including IT majors and others like Wipro, Tata Motors, Bajaj Auto, HDFC Bank, Dr. Reddy and Hindustan Lever among others. However, the rupee supported the early morning gains but is still strong against the dollar following the overnight strength seen in other emerging market currencies.

At 11:21AM BSE SENSEX was at 20771.92, down by 93.05 points or by 0.45 per cent, while the NSE Nifty was at 6164.45, down by 38.35 points or by 0.62 per cent.

The BSE Sensex touched an intraday high of 20922.32 and an intraday low of 20716.5, while the NSE Nifty touched an intraday high of 6217.95 and an intraday low of 6154.4.

The BSE MIDCAP was at 5998.48, up by 10.69 points or by 0.18 per cent, while the BSE SMLCAP was at 5873.42, up by 2.04 points or by 0.03 per cent.

The top losers of the BSE Sensex pack were Wipro Ltd. (Rs. 492.40,-4.37%), Bajaj Auto Ltd. (Rs. 2103.00,-1.60%), Tata Motors Ltd. (Rs. 373.95,-1.58%), Dr. Reddy's Laboratories Ltd. (Rs. 2395.85,-1.41%), HDFC Bank Ltd. (Rs. 660.05,-1.30%), among others.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 349.00,+4.71%), State Bank of India (Rs. 1726.80,+2.98%), Sesa Sterlite Ltd. (Rs. 203.40,+2.49%), Cipla Ltd. (Rs. 419.00,+1.69%), Tata Power Company Ltd. (Rs. 83.10,+1.34%), among others.

Among the sectors, In BSE, BSE Metal index was at 9257.88 up by 73.14 points or by 0.8%. Sesa Sterlite Ltd. (Rs. 203.40,+2.49%), NMDC Ltd. (Rs. 135.60,+1.27%), Hindustan Zinc Ltd. (Rs. 135.60,+1.19%), Tata Steel Ltd. (Rs. 342.00,+0.56%), Hindalco Industries Ltd. (Rs. 117.00,+0.52%),.

On the flip side, In BSE, BSE Realty index was at 1375.83 down by -14.48 points or by -1.04%. Indiabulls Real Estate Ltd. (Rs. 65.70,-2.81%), DLF Ltd. (Rs. 159.90,-2.62%), Anant Raj Ltd. (Rs. 51.55,-1.81%), Peninsula Land Ltd. (Rs. 31.40,-0.63%), Housing Development & Infrastructure Ltd. (Rs. 43.60,-0.57%),.

The Market breadth, indicating the overall health of the market, was positive. On BSE out of total 1933 shares traded, 973 shares advanced, 851 shares declined, while 109 remained unchanged.

On the global front, Asian markets turn tide with Japan and Shanghai hitting one week lows. Traders are attributing it to profit taking after strong gains last week and weak data from Chinese banks.

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Story first published: Wednesday, October 23, 2013, 11:48 [IST]
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