Post Session: Sensex retreats in choppy trade; M&M, HDFC down Analysis for Jul 31, 2014

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The Indian bourses closed lower in choppy trade on Thursday as investors remained cautious on the day of F&O expiry. Among the thirteen sectoral indices, all the indices, barring oil & gas, metal, realty and healthcare, ended in red with financial and power stocks leading the decline. On the corporate front, ICICI bank ended down over 1 per cent despite posting impressive bottom-line growth in its first quarter earnings that beats analyst on all parameters. The bank reported a growth of 3.08 per cent in its consolidated net profit at Rs 2,832.01 crore for the first quarter ended June 30, 2014, driven by rise in credit demand and higher fee income. Among others, country"s leading car manufacturer Maruti Suzuki India saw business taking a ride in the first quarter as its earnings beats street estimates on the back of strong sales and higher other income. The auto major has reported a growth of 20.69 per cent in its standalone net profit at Rs 762.28 crore for the first quarter ended June 30, 2014.

The BSE SENSEX closed at 25894.97 down by 192.45 points or by 0.74 per cent, while the NSE Nifty ended at 7721.3 down by 70.1 points or by 0.9 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 26118.88 and intraday low of 25853.69, while the NSE Nifty touched intraday high of 7791.85 and intraday low of 7711.15.

Bucking the trend, the broader market closed in positive terrain. The BSE MIDCAP closed at 9188.19 up by 16.68 points or by 0.18 per cent, while the BSE SMLCAP ended at 9989.42 up by 24.49 points or by 0.25 per cent.

On the Sectoral front, power and bankex indices declined 1.35 per cent and 1.18 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3184, shares advanced were 1500 while 1560 shares declined and 124 were unchanged.

The top losers of the BSE Sensex pack were NTPC Ltd. (Rs. 145.00,-3.01%), Axis Bank Ltd. (Rs. 391.85,-2.52%), Mahindra & Mahindra Ltd. (Rs. 1198.00,-1.73%), Tata Power Company Ltd. (Rs. 97.95,-1.66%), Housing Development Finance Corporation Ltd. (Rs. 1067.35,-1.60%), among others.

On the flip side, Cipla Ltd. (Rs. 456.30,+1.92%), Tata Steel Ltd. (Rs. 553.40,+1.56%), Coal India Ltd. (Rs. 368.95,+0.49%), GAIL (India) Ltd. (Rs. 433.90,+0.17%), Reliance Industries Ltd. (Rs. 1006.00,+0.05%), were among notable gainers on BSE.

Story first published: Thursday, July 31, 2014, 17:00 [IST]
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