Markets turn choppy; Pharma & Metal drag Analysis for Mar 11, 2015

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The key domestic benchmark indices turned choppy during the late morning trading session. The 30-share benchmark index was marginally down by 2 points as gains in index heavyweights including Wipro, Infosys, Hindustan Unilever and NTPC were wiped off by weakness in Hindalco, SSLT, Cipla, Tata Motors, ONGC and Sun Pharma among others. Meanwhile, investors remained cautious and were unwilling to take fresh positions ahead of the proceedings in the Parliament particularly with respect to the passage of key bills such as Land Acquisition Bill in Rajya Sabha. However, some support came in with report that India"s current account deficit (CAD) narrowed considerably to USD 8.2 billion or 1.6 per cent of gross domestic product (GDP) for the quarter ended December 2014 down from USD 10.1 billion or 2 per cent of GDP on end-September 2014. On the global front, Asian markets were trading mostly in the red at this point of time on worries about an earlier US interest rate hike that led the dollar to a record high against the euro.

At 11:13AM BSE SENSEX was at 28707.04, down by 2.83 points or by 0.01 per cent, while the NSE Nifty was at 8723.15, up by 11.1 points or by 0.13 per cent.

The BSE MIDCAP was at 10832.26, down by 27.99 points or by 0.26 per cent, while the BSE SMLCAP was at 11321.06, up by 1.44 points or by 0.01 per cent.

The BSE Sensex touched an intraday high of 28815.95 and an intraday low of 28670.58, while the NSE Nifty touched an intraday high of 8747.05 and an intraday low of 8700.8.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 671.55,+2.53%), Infosys Ltd. (Rs. 2236.00,+1.63%), Hindustan Unilever Ltd. (Rs. 971.55,+1.56%), NTPC Ltd. (Rs. 152.20,+1.40%), Mahindra & Mahindra Ltd. (Rs. 1242.00,+1.22%), among others.

The top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 133.20,-3.51%), Sesa Sterlite Ltd. (Rs. 194.05,-1.80%), Tata Motors Ltd. (Rs. 551.85,-1.48%), Cipla Ltd. (Rs. 719.00,-1.47%), Sun Pharmaceutical Industries Ltd. (Rs. 1011.45,-1.34%), among others.

Among the sectors, In BSE, BSE_IT index was at 11862.98 up by 146.02 points or by 1.25%. HCL Technologies Ltd. (Rs. 2100.00,+2.74%), Wipro Ltd. (Rs. 670.25,+2.33%), Infosys Ltd. (Rs. 2236.00,+1.63%), Mahindra & Mahindra Ltd. (Rs. 2874.05,+1.19%), MindTree Ltd. (Rs. 1410.00,+0.57%),.

On the flip side, In BSE, BSE Realty index was at 1698.57 down by -18.06 points or by -1.05%. DLF Ltd. (Rs. 141.50,-2.14%), Mahindra Lifespace Developers Ltd. (Rs. 496.00,-1.62%), National Buildings Construction Corporation Ltd. (Rs. 990.20,-1.61%), Godrej Industries Ltd. (Rs. 268.05,-1.47%), Prestige Estates Projects Ltd. (Rs. 263.00,-1.44%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2520 shares traded, 1118 shares advanced, 1292 shares declined while 110 remained unchanged.

Story first published: Wednesday, March 11, 2015, 11:48 [IST]
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