Weakness persists amid profit taking; Oil & Gas weigh Analysis for Dec 11, 2013

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Markets extended its earlier losses as investors continued to take profits after the recent rally on the D-street. The selling pressure was primarily observed in Tata Motors, ONGC, BHEL, Gail, State Bank of India and TCS among others. Moreover, the rupee snapped its five-day rising streak against the American currency fell 30 paise to 61.34-a-dollar today at the Interbank Foreign Exchange market on fresh dollar demand from importers. The trade deficit figures failed to uplift the sentiments of the investors even after it narrowed both on a sequential and yearly basis led by decreased oil, jems and jewellery imports.

At 1:21PM BSE SENSEX was at 21108.55, down by 146.71 points or by 0.69 per cent, while the NSE Nifty was at 6290.8, down by 42.05 points or by 0.66 per cent.

The BSE MIDCAP was at 6385.92, down by 16.85 points or by 0.26 per cent, while the BSE SMLCAP was at 6197.43, down by 7.68 points or by 0.12 per cent.

The BSE Sensex touched an intraday high of 21200.51 and an intraday low of 21088.42, while the NSE Nifty touched an intraday high of 6313.25 and an intraday low of 6282.15.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 377.40,-3.35%), Oil And Natural Gas Corporation Ltd. (Rs. 288.90,-3.04%), Bharat Heavy Electricals Ltd. (Rs. 161.90,-2.26%), State Bank of India (Rs. 1803.80,-2.21%), GAIL (India) Ltd. (Rs. 342.70,-2.09%), among others.

The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 139.75,+2.76%), Jindal Steel & Power Ltd. (Rs. 269.95,+0.97%), ITC Ltd. (Rs. 320.40,+0.83%), Maruti Suzuki India Ltd. (Rs. 1759.65,+0.54%), Bajaj Auto Ltd. (Rs. 1997.50,+0.52%), among others.

Among the sectors, In BSE, BSE_FMCG index was at 6484.77 up by 33.57 points or by 0.52%. United Breweries Ltd. (Rs. 793.50,+2.22%), Dabur India Ltd. (Rs. 168.00,+1.85%), United Spirits Ltd. (Rs. 2544.75,+0.92%), ITC Ltd. (Rs. 320.40,+0.83%), Hindustan Unilever Ltd. (Rs. 564.65,+0.05%),.

On the other hand, In BSE, BSE_CGS index was at 10144.59 down by -141 points or by -1.37%. Pipavav Defence & Offshore Engineering Company Ltd. (Rs. 42.25,-4.95%), Crompton Greaves Ltd. (Rs. 130.10,-3.16%), Bharat Heavy Electricals Ltd. (Rs. 161.90,-2.26%), Punj Lloyd Ltd. (Rs. 27.40,-1.62%), Larsen & Toubro Ltd. (Rs. 1084.60,-1.42%).,

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2478 shares traded, 986 shares advanced, 1328 shares declined, while 164 remained unchanged.

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Story first published: Wednesday, December 11, 2013, 13:36 [IST]
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