Market remains weak on mixed global cues Analysis for Feb 10, 2014

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Weighed down mixed cues from the Asian peers the 30-share benchmark index remained flat during the late morning trading session with negative bias amid profit booking in the index heavyweights including Hindustan Unilever, Bharti Airtel, Gail, TCS, HDFC Bank and Hero Moto Corp among others. Moreover, the investors will keep an eye on third quarter earnings of Tata Motors, NMDC, JP Associates, Indraprastha Gas, India Cements, Essar Oil, BGR Energy and Apollo Hospitals to be announced today. The investors remained cautious ahead of economic data including consumer and wholesale inflation for January and IIP data for December.

At 11:17AM BSE SENSEX was at 20374.46, down by 2.1 points or by 0.01 per cent, while the NSE Nifty was at 6063.75, up by 0.55 points or by 0.01 per cent.

The BSE MIDCAP was at 6363.94, up by 27.1 points or by 0.43 per cent, while the BSE SMLCAP was at 6365.68, up by 36.92 points or by 0.58 per cent.

The BSE Sensex an touched intraday high of 20434.5 and an intraday low of 20336.15, while the NSE Nifty touched an intraday high of 6083.05 and an intraday low of 6051.3.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 611.00,+1.61%), Tata Motors Ltd. (Rs. 366.00,+1.41%), Dr. Reddy's Laboratories Ltd. (Rs. 2665.15,+1.29%), Wipro Ltd. (Rs. 567.50,+1.17%), Reliance Industries Ltd. (Rs. 823.20,+1.09%), among others.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 310.00,-1.74%), Hindustan Unilever Ltd. (Rs. 568.00,-1.67%), GAIL (India) Ltd. (Rs. 350.35,-1.57%), Tata Consultancy Services Ltd. (Rs. 2118.95,-1.14%), HDFC Bank Ltd. (Rs. 642.20,-0.88%), among others.

Among the sectors, In BSE, BSE Realty index was at 1233.55 up by 28.2 points or by 2.34%. DLF Ltd. (Rs. 144.15,+4.49%), Indiabulls Real Estate Ltd. (Rs. 52.00,+2.56%), Oberoi Realty Ltd. (Rs. 188.35,+2.11%), Housing Development & Infrastructure Ltd. (Rs. 43.30,+1.76%), Mahindra Lifespace Developers Ltd. (Rs. 374.75,+1.31%),.

On the flip side, In BSE, BSETECk index was at 5022.2 down by -10.05 points or by -0.2%. Idea Cellular Ltd. (Rs. 134.35,-2.75%), Jagran Prakashan Ltd. (Rs. 84.80,-2.25%), Reliance Communications Ltd. (Rs. 122.50,-2.23%), Bharti Airtel Ltd. (Rs. 310.00,-1.74%), Sun TV Network Ltd. (Rs. 357.05,-1.52%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2166 shares traded, 1195 shares advanced, 840 shares declined while 131 remained unchanged.

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Story first published: Monday, February 10, 2014, 11:48 [IST]
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