Post Session- Dalal Street ends in red ahead of RBI policy Analysis for Dec 01, 2014

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The key domestic benchmarks ended lower on Monday, with the Sensex declined over 130 points led by losses in oil & gas and metal stocks as investors booked profit after recent rally. The market witnessed lackluster session as investors remained cautious ahead of RBI monetary policy review on December 2. Dalal Street has a lot of hopes pinned to Tuesday"s RBI monetary policy which may set the future direction of the market. Even, higher-than-expected PMI failed to lift market sentiments. Manufacturing activity in India expanded at the sharpest pace since February 2013 last month as factories boosted output at an accelerated clip while new orders rose, signaling a pickup in Asia"s third biggest economy. The gauge measuring India"s manufacturing activity rose to 53.3 in November from 51.6 in the previous month, HSBC and Markit Economics said in a report on Monday.

On the global front, most of Asian markets ended lower, barring Japan"s Nikkei, as manufacturing activity in China dropped last month, signaling a slowdown in Asia"s largest economy. The Chinese Purchasing Managers" Index (CPMINDX) fell to an eight-month low of 50.3 in November, compared with the 50.8 in October, affected by factory shut down. On the flip side, Japan's Nikkei advanced to a fresh seven-year high on Monday as strong corporate spending lifted sentiment.

The BSE SENSEX closed at 28559.62 down by 134.37 points or by 0.47 per cent, and then NSE Nifty ended at 8555.9 down by 32.35 points or by 0.38 per cent.

In the choppy trade, the BSE Sensex touched intraday high of 28809.64 and intraday low of 28538.44, while the NSE Nifty touched intraday high of 8623 and intraday low of 8545.15.

Meanwhile, the BSE MIDCAP closed at 10262.9 down by 7.71 points or by 0.08 per cent, while the BSE SMLCAP settled at 11189.7 down by 81.09 points or by 0.72 per cent.

On the Sectoral front, oil & gas and power stocks declined 2.57 per cent and 2.25 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 2381, shares advanced were 1283 while 1048 shares declined and 50 were unchanged.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 372.70,-1.79%), Sesa Sterlite Ltd. (Rs. 228.00,-1.43%), Bharat Heavy Electricals Ltd. (Rs. 279.25,-1.39%), Tata Power Company Ltd. (Rs. 91.85,-1.24%), Reliance Industries Ltd. (Rs. 979.00,-1.20%), among others.

Story first published: Monday, December 1, 2014, 16:36 [IST]
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