Markets turn cautious; Banking stocks weigh Analysis for Nov 19, 2014

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The Indian markets turned cautious during the noon trading session amid weakness in index heavyweights like Tata Motors, Infosys, TCS and Sun Pharma among others. Among the sectors, Bankex, Consumer Durables, Health Care, IT, Oil and Gas and Power indices were in red, down 0.1-0.3 per cent. However, sentiments of the investors remained up-beat on report that foreign portfolio investors (FPIs) sold shares worth a net Rs 101.98 crore on November 18, 2014. Meanwhile, the Coal Ministry is likely to issue draft rules for e-auction for 74 coal blocks, the rules will be put up for public consultation as well as stakeholder consultation too, it is being done to be fair to all the parties involved. The draft rules are expected to provide clarity on compensation and will pave way for a cap on tariffs levied.

At 1:12PM BSE SENSEX was at 28165.69, up by 2.4 points or by 0.01 per cent, while the NSE Nifty was at 8423.35, down by 2.55 points or by 0.03 per cent.

The BSE MIDCAP was at 10333.82, up by 58.52 points or by 0.57per cent, while the BSE SMLCAP was at 11522.38, up by 79.22 points or by 0.69 per cent.

The BSE Sensex touched an intraday high of 28294.01 and an intraday low of 28132.22, while the NSE Nifty touched an intraday high of 8455.65 and an intraday low of 8412.3.

The top gainers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 159.15,+2.41%), Larsen & Toubro Ltd. (Rs. 1670.00,+1.54%), Hindustan Unilever Ltd. (Rs. 762.05,+1.41%), Tata Power Company Ltd. (Rs. 89.95,+1.24%), ITC Ltd. (Rs. 373.60,+1.19%), among others.

The top losers of the BSE Sensex pack were Cipla Ltd. (Rs. 596.85,-1.87%), Sun Pharmaceutical Industries Ltd. (Rs. 851.65,-1.58%), GAIL (India) Ltd. (Rs. 482.65,-1.48%), Tata Motors Ltd. (Rs. 533.75,-1.39%), Coal India Ltd. (Rs. 347.70,-1.26%), among others.

Among the sectors, In BSE, BSE_CGS index was at 16341.92 up by 170.78 points or by 1.06%. Lakshmi Machine Works Ltd. (Rs. 4450.00,+2.75%), Havells India Ltd. (Rs. 313.60,+2.07%), AIA Engineering Ltd. (Rs. 1143.60,+1.87%), Larsen & Toubro Ltd. (Rs. 1670.00,+1.54%), Siemens Ltd. (Rs. 945.75,+1.23%),.

On the flip side, In BSE, BSE_PSU index was at 8321.8 down by -21.84 points or by -0.26%. Central Bank of India (Rs. 76.45,-2.11%), Andhra Bank (Rs. 88.45,-1.83%), Rashtriya Chemicals & Fertilizers Ltd. (Rs. 70.00,-1.75%), Oriental Bank of Commerce (Rs. 285.70,-1.67%), GAIL (India) Ltd. (Rs. 482.65,-1.48%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 3049 shares traded, 1598 shares advanced, 1326 shares declined while the 126 remained unchanged.

Story first published: Wednesday, November 19, 2014, 14:00 [IST]
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