Markets turn directionless; BSE Midcap, Smallcap slip over 1% Analysis for Sep 24, 2014

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The markets turned directionless as it swung between the negative and positive zone during the noon session of trade. The 30-share benchmark index was marginally down by 20 points amid selling pressure in index heavyweights including LT, Tata Power, Tata Motors and BajajAuto among others. However, caution is seen ahead of SC verdict on coal-block allocation later today and expiry of September derivative contracts tomorrow.

At 1:15PM BSE SENSEX was at 26755.55, down by 20.14 points or by 0.08 per cent, while the NSE Nifty was at 8004.15, down by 13.4 points or by 0.17 per cent.

The BSE MIDCAP was at 9571.27 down by 124.88 points or by 1.29 per cent, while the BSE SMLCAP was at 10810.91 down by 158.39 points or by 1.44 per cent.

The BSE Sensex touched an intraday high of 26844.7 and an intraday low of 26641.76, while the NSE Nifty touched an intraday high of 8042.05 and an intraday low of 7979.5.The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 161.30,+2.71%), Hindustan Unilever Ltd. (Rs. 760.50,+2.38%), Coal India Ltd. (Rs. 341.15,+1.97%), Wipro Ltd. (Rs. 593.50,+1.93%), ITC Ltd. (Rs. 376.70,+1.56%), among others.

The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1460.25,-2.44%), Tata Power Company Ltd. (Rs. 83.25,-2.00%), Bharat Heavy Electricals Ltd. (Rs. 212.90,-1.64%), Tata Motors Ltd. (Rs. 510.70,-1.37%), Tata Consultancy Services Ltd. (Rs. 2652.70,-1.35%), among others.

Among the sectors, In BSE, BSE_FMCG index was at 7702.97 up by 110.13 points or by 1.45%. Nestle India Ltd. (Rs. 6100.00,+2.89%), Hindustan Unilever Ltd. (Rs. 760.50,+2.38%), ITC Ltd. (Rs. 376.70,+1.56%), Dabur India Ltd. (Rs. 224.20,+1.54%), United Breweries Ltd. (Rs. 713.00,+1.52%),.

On the flip side, In BSE, BSE Realty index was at 1652.07 down by -21.41 points or by -1.28%. Prestige Estates Projects Ltd. (Rs. 217.25,-5.79%), Unitech Ltd. (Rs. 21.05,-4.10%), Indiabulls Real Estate Ltd. (Rs. 67.70,-2.73%), Sobha Ltd. (Rs. 415.00,-2.66%), Anant Raj Ltd. (Rs. 55.85,-2.27%),.The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2925 shares traded, 865 shares advanced, 1979 shares declined while 81 remained unchanged.

Story first published: Wednesday, September 24, 2014, 13:48 [IST]
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