Mid Session: Markets slip in red post PMI data; FMCG, realty stocks down Analysis for Mar 02, 2015

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Amidst choppy trade, the domestic benchmark indices Sensex and Nifty slipped in negative terrain in the afternoon session of day"s trade, led by losses in FMCG and realty stocks. However, the broader markets both BSE midcap and smallcap were outperformed the front-liners with gains of around 0.4 per cent each. The sentiment were dampened by lower-than-expected growth in the Indian manufacturing PMI, with manufacturing activity expanded at its slowest pace in five months in February as a slowdown in new orders dragged overall output, a business survey showed on Monday.

At 12:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 29321.92 down by 39.58 points or by 0.13 per cent and then NSE Nifty was at 8892.65 down by 9.2 points or by 0.1 per cent.

However, the broader market was moving above baseline. The BSE MIDCAP was at 10855.38 up by 44.53 points or by 0.41per cent, while the BSE SMLCAP was at 11283.71 up by 17.27 points or by 0.15 per cent.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2667, shares advanced were 1221 while 1339 shares declined and 107 were unchanged.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2074.30,-4.05%), ITC Ltd. (Rs. 347.20,-3.89%), Tata Motors Ltd. (Rs. 575.75,-3.02%), GAIL (India) Ltd. (Rs. 405.50,-1.93%), Hero MotoCorp Ltd. (Rs. 2631.15,-1.92%), among others.

Meanwhile, Larsen & Toubro Ltd. (Rs. 1828.05,+3.46%), Axis Bank Ltd. (Rs. 634.45,+3.43%), Cipla Ltd. (Rs. 700.50,+2.79%), HDFC Bank Ltd. (Rs. 1088.00,+1.89%), Bharat Heavy Electricals Ltd. (Rs. 266.95,+1.83%), were among notable losers on BSE.

Among the thirteen sectoral indices on BSE, FMCG index was trading at 8053.15 down by 169.23 points or by 2.06 per cent. ITC Ltd. (Rs. 347.20,-3.89%), Godrej Consumer Products Ltd. (Rs. 1108.05,-2.03%), United Breweries Ltd. (Rs. 984.55,-1.37%), Jubilant Foodworks Ltd. (Rs. 1630.20,-0.85%), Dabur India Ltd. (Rs. 262.75,-0.45%), were among the notable losers on BSE.

Following the FMCG index, BSE Realty index was at 1795.54 down by 26.38 points or by 1.45 per cent. Mahindra Lifespace Developers Ltd. (Rs. 489.30,-4.46%), Unitech Ltd. (Rs. 19.80,-4.12%), D B Realty Ltd. (Rs. 79.80,-3.10%), Oberoi Realty Ltd. (Rs. 313.80,-2.52%), Housing Development & Infrastructure Ltd. (Rs. 116.20,-2.43%), were among others losers.

Story first published: Monday, March 2, 2015, 13:12 [IST]
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