Markets under pressure; auto, capital goods drag Analysis for Feb 09, 2015

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Indian bourses continued to trade in red during the noon trading session on sustained selling by funds and retail investors amid exit polls showing that the BJP may not be able to form government in Delhi. Furthermore, discouraging third quarter earnings by some bluechip companies, weak trend in Asian stocks and depreciation in the rupee, was also dampening the trading sentiments. Moreover investors remained on the sidelines and refrained from any buying activity ahead of index of industrial production (IIP) data for December 2014 on February 12, 2015. On the global front, most of Asian stocks were trading on subdued note as poor Chinese trade data raised concerns over the health of the world"s second biggest economy, overshadowing a surge in hiring in the US in January.

At 1:15PM BSE SENSEX was at 28437.37, down by 280.54 points or by 0.98 per cent, while the NSE Nifty was at 8588.45, down by 72.6 points or by 0.84 per cent.

The BSE MIDCAP was at 10424.35, down by 66.33 points or by 0.63 per cent, while the BSE SMLCAP was at 11011.06, down by 66.28 points or by 0.6 per cent.

The BSE Sensex touched an intraday high of 28566.5 and an intraday low of 28337.43, while the NSE Nifty touched an intraday high of 8605.55 and an intraday low of 8547.3.

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 357.30,+1.81%), Bajaj Auto Ltd. (Rs. 2263.85,+1.60%), Dr. Reddy's Laboratories Ltd. (Rs. 3092.70,+1.48%), Sun Pharmaceutical Industries Ltd. (Rs. 938.95,+1.11%), Axis Bank Ltd. (Rs. 568.60,+1.01%), among others.

The top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 353.00,-4.41%), GAIL (India) Ltd. (Rs. 401.45,-4.41%), Bharti Airtel Ltd. (Rs. 356.55,-2.99%), Cipla Ltd. (Rs. 637.20,-2.75%), Sesa Sterlite Ltd. (Rs. 205.00,-2.66%), among others.

Among the sectors, In BSE, BSE_HCS index was at 15215.92 up by -3.89 points or by -0.03%. Wockhardt Ltd. (Rs. 1303.90,+5.55%), Torrent Pharmaceuticals Ltd. (Rs. 1130.20,+4.82%), Ipca Laboratories Ltd. (Rs. 629.00,+2.04%), Dr. Reddy's Laboratories Ltd. (Rs. 3092.70,+1.48%), Sun Pharmaceutical Industries Ltd. (Rs. 938.95,+1.11%),.

On the flip side, In BSE, BSE_CGS index was at 16480.16 down by -241.65 points or by -1.45%. SKF India Ltd. (Rs. 1363.80,-2.87%), AIA Engineering Ltd. (Rs. 1037.00,-2.83%), Alstom T&D India Ltd. (Rs. 476.90,-2.51%), Larsen & Toubro Ltd. (Rs. 1642.10,-2.51%), Alstom India Ltd. (Rs. 661.75,-1.96%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2805 shares traded, 969 shares advanced, 1717 shares declined while 119 remained unchanged.

Story first published: Monday, February 9, 2015, 13:48 [IST]
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