Mid-Market: Sensex in red; Oil&gas and FMCG stocks down Analysis for Jun 25, 2014

Posted By: Religare
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The Indian benchmark indices remained under stress in the afternoon session of the day"s trade as investors turned cautious and booked profits ahead of the budget session and F&O June expiry tomorrow. Further, weakness in index heavyweights including ITC, Reliance Industries, Bharti Airtel, ICICI Bank, Oil and Natural Gas Corporation Ltd also weighed on market sentiments. However, the boarder market continued to hold its ground with moderate gains. Among the individual stocks, Bajaj Auto was trading higher by 2.65 per cent and was the top gainer among Sensex-30. On the sectoral front, Bankex, Capital Goods, Realty, Oil & Gas and FMCG indices were in red while IT, Auto, Consumer Durables and Metal indices were trading in green.

At 11:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25329.67 down by 39.23 points or by 0.15 per cent and then NSE Nifty was at 7575.6 down by 4.6 points or by 0.06 per cent.

However, the broader market was moving above baseline. The BSE MIDCAP was at 9199.72 up by 38.54 points or by 0.42 per cent, while the BSE SMLCAP was at 10015.82 up by 38.11 points or by 0.38 per cent.

The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2766, shares advanced were 1456 while 1174 shares declined and 136 were unchanged.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 333.05,-2.32%), ITC Ltd. (Rs. 316.90,-1.09%), ICICI Bank Ltd. (Rs. 1423.00,-1.08%), Oil And Natural Gas Corporation Ltd. (Rs. 438.50,-1.05%), Maruti Suzuki India Ltd. (Rs. 2393.05,-0.94%), among others.

On the flip side, Bajaj Auto Ltd. (Rs. 2276.95,+2.54%), GAIL (India) Ltd. (Rs. 467.25,+1.65%), Coal India Ltd. (Rs. 397.70,+1.56%), Tata Power Company Ltd. (Rs. 104.95,+1.21%), Tata Motors Ltd. (Rs. 445.90,+0.85%), were among notable gainers on BSE.

Among the thirteen sectoral indices on BSE, oil&gas index was leading the fall and was trading lower at 11430.62 down by 86.21 points or by 0.75 per cent. Petronet LNG Ltd. (Rs. 180.75,-2.95%), Hindustan Petroleum Corporation Ltd. (Rs. 413.00,-1.36%), Oil And Natural Gas Corporation Ltd. (Rs. 438.00,-1.16%), Bharat Petroleum Corporation Ltd. (Rs. 575.70,-1.07%), Reliance Industries Ltd. (Rs. 1049.80,-0.93%), were among the notable losers on BSE.

Following the oil&gas index, BSE_FMCG index was at 6615.32 down by 27.45 points or by 0.41 per cent. ITC Ltd. (Rs. 316.80,-1.12%), Marico Ltd. (Rs. 235.00,-0.34%), Jubilant Foodworks Ltd. (Rs. 1305.00,-0.26%), Dabur India Ltd. (Rs. 185.95,-0.24%), were among the others dragging the market.

Story first published: Wednesday, June 25, 2014, 12:36 [IST]
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