Post Session- Sensex ends lower for second day on profit booking Analysis for Nov 10, 2014

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The key domestic benchmarks hit fresh highs on Monday before investors indulged in profit booking, pushing Dalal Street marginally into the red, capping off a second straight decline. Oil & Gas and capital goods stocks were the major laggards, while FMCG and Consumer Durables advanced. Investors are cautious ahead of consumer and wholesale inflation numbers and September industrial output data which will offer cues over the health of Asia"s third biggest economy. Retail inflation data, the major focus of the RBI in policy setting is due on Wednesday while wholesale inflation numbers for the month of October would be released on Friday. Despite easing inflation in recent months, a rate cut is unlikely in the December meet with most experts predicting a reduction in borrowing costs in February as the RBI reaches it 8 per cent consumer inflation target for January.

The BSE SENSEX closed at 27,874.73, up by 6.1 points or by 0.02 per cent, and the NSE Nifty ended at 8,344.25, up by 7.25 points or by 0.09 per cent.

The BSE Sensex touched intraday high of 28,027.96 and intraday low of 27,764.75 The NSE Nifty touched intraday high of 8,383.05 and intraday low of 8304.45.

Meanwhile, the BSE MIDCAP closed at 10,013.27, up by 13.58 points or by 0.14 per cent, while the BSE SMLCAP ended at 11,134.81, up by 17.64 points or by 0.16 per cent.

On the Sectoral front, Oil & Gas, and Capital Goods advanced 1.29 per cent and 1.01 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3276, shares advanced were 1581 while 1571 shares declined and 124 were unchanged.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 394.55,-3.59%), Hindalco Industries Ltd. (Rs. 152.35,-2.37%), Tata Motors Ltd. (Rs. 521.70,-2.26%), Larsen & Toubro Ltd. (Rs. 1620.00,-1.98%), Axis Bank Ltd. (Rs. 460.25,-1.83%), among others.

Story first published: Monday, November 10, 2014, 17:12 [IST]
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