Sensex remains flat; financial stocks weigh Analysis for Nov 07, 2013

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The key domestic benchmark index continued to trade flat during the late morning session with positive bias as gains in IT and Metal shares helped offset losses in private banking majors and FMCG major ITC. Moreover, the weakening rupee also weighed on the sentiment of the investors amid speculations that RBI will soon wind up its special forex swap window for OMCs. IT majors witnessed buying on the back of a weakening rupee and the upbeat performance from Cognizant.

At 11:16AM BSE SENSEX was at 20928.47, up by 33.53 points or by 0.16 per cent, while the NSE Nifty was at 6219.3, up by 4.15 points or by 0.07 per cent.

The BSE MIDCAP was at 6311.3, up by 23.8 points or by 0.38 per cent, while the BSE SMLCAP was at 6118.75, up by 19.01 points or by 0.31 per cent.

The BSE Sensex touched an intraday high of 20944.29 and an intraday low of 20866.88 The NSE Nifty touched an intraday high of 6232.15 and an intraday low of 6207.35.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 344.65,+3.33%), Sesa Sterlite Ltd. (Rs. 201.85,+2.41%), Hindalco Industries Ltd. (Rs. 117.80,+1.99%), Tata Consultancy Services Ltd. (Rs. 2118.00,+1.25%), Infosys Ltd. (Rs. 3344.80,+1.18%), among others.

The top losers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 135.30,-3.67%), Bharti Airtel Ltd. (Rs. 350.30,-1.45%), Coal India Ltd. (Rs. 294.75,-1.34%), State Bank of India (Rs. 1789.35,-1.12%), ICICI Bank Ltd. (Rs. 1072.00,-0.76%), among others.

In BSE, BSE Metal index was at 9392.11 up by 165.45 points or by 1.79%. Steel Authority of India (SAIL) Ltd. (Rs. 66.40,+3.99%), Tata Steel Ltd. (Rs. 345.50,+3.58%), Hindalco Industries Ltd. (Rs. 118.35,+2.47%), Sesa Sterlite Ltd. (Rs. 201.75,+2.36%), Bhushan Steel Ltd. (Rs. 500.00,+2.02%),.

In BSE, BSE_IT index was at 8577.32 up by 115.2 points or by 1.36%. HCL Technologies Ltd. (Rs. 1109.90,+2.31%), Tata Consultancy Services Ltd. (Rs. 2118.50,+1.28%), Infosys Ltd. (Rs. 3346.90,+1.24%), Wipro Ltd. (Rs. 485.50,+0.83%), Mahindra & Mahindra Ltd. (Rs. 1581.95,+0.57%),.

However, In BSE, BSE_PSU index was at 5871.58 down by -22.55 points or by -0.38%. Chennai Petroleum Corporation Ltd. (Rs. 61.95,-4.98%), Neyveli Lignite Corporation Ltd. (Rs. 65.20,-4.75%), Bharat Heavy Electricals Ltd. (Rs. 135.70,-3.38%), Hindustan Petroleum Corporation Ltd. (Rs. 221.00,-3.09%), State Bank Of Mysore (Rs. 440.85,-2.92%),.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total 2104 shares traded, 1111 shares advanced, 872 shares declined while 121 remained unchanged.

On the global front, other Asian peers Stocks in Asia except for Straits Times continued to remain subdued as investors turned cautious ahead of the ECB meeting and US GDP data to be released later in the day. The Straits Times was up 0.03 per cent. The Nikkei was down 0.56 per cent. China's Shanghai Composite was down 0.65 per cent while Hang Seng was down 0.72 per cent.

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Story first published: Thursday, November 7, 2013, 11:48 [IST]
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