Mid-Market: Hope rally turns around amid cautious sentiments

The broader market witnessed profit booking after three straight sessions of one-sided rally. Investor sentiments turned the other way round after the market reached unchartered territories amid Modi-effect. Commodities saw gold prices rise marginally but still sub 1300/ounce. Crude moved up with Nymex at USD 102 and brent at USD 109 per barrel on the back of expectations of oil stock piles falling to record lows last week The dollar index traded above 80 with the euro languished at 5 week lows.

At 12:26PM BSE SENSEX was at 23812.85 down by -58.38 points or by -0.24 per cent and then NSE Nifty was at 7094.85 down by -13.9 points or by -0.2 per cent. The BSE MIDCAP was at 7690.19 up by 71.57 points or by 0.94 % while the BSE SMLCAP was at 7837.92 up by 75 points or by 0.97 %.

The BSE Sensex touched intraday high of 23964.67 and intraday low of 23753.36 The NSE Nifty touched intraday high of 7142.25 and intraday low of 7080.9 The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 442.00,+3.54%), Bajaj Auto Ltd. (Rs. 2020.65,+2.09%), Hindalco Industries Ltd. (Rs. 145.25,+2.07%), State Bank of India (Rs. 2311.95,+1.57%), Cipla Ltd. (Rs. 394.95,+1.09%), among others.

The top losers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2533.60,-2.95%), Mahindra & Mahindra Ltd. (Rs. 1091.70,-2.74%), Bharat Heavy Electricals Ltd. (Rs. 214.50,-1.97%), Maruti Suzuki India Ltd. (Rs. 2065.15,-1.43%), Larsen & Toubro Ltd. (Rs. 1389.70,-1.36%), among others.

The top gainers of the NSE Nifty pack were Bank of Baroda (Rs. 939.15,+6.98%), Punjab National Bank (Rs. 826.00,+3.22%), Tata Steel Ltd. (Rs. 440.20,+3.07%), Jindal Steel & Power Ltd. (Rs. 252.40,+2.75%), DLF Ltd. (Rs. 156.40,+2.66%), among others.

The top losers of the NSE Nifty pack were Mahindra & Mahindra Ltd. (Rs. 1086.35,-3.25%), Dr. Reddy's Laboratories Ltd. (Rs. 2542.25,-2.62%), Bharat Heavy Electricals Ltd. (Rs. 213.55,-2.47%), HCL Technologies Ltd. (Rs. 1405.10,-1.94%), Larsen & Toubro Ltd. (Rs. 1386.10,-1.65%), among others.

In BSE, BSE_CGS index was at 13122.66 down by -113.98 points and BSE Oil & Gas index was at 10620.95 down by -83.57 points.

The Market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2800, shares advanced were 1413 while 1250 shares declined and 137 were unchanged.

Read more about: sensex, nifty
Story first published: Wednesday, May 14, 2014, 13:12 [IST]
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