Post-Session: Sensex ends lower by 58 points on May F&O expiry Analysis for May 28, 2015

Posted By: Religare
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The Indian benchmarks ended on a dull note on the last day of May derivatives series due to selling pressure in financials and pharma stocks. The weakness in most Asian markets, muted corporate earnings and growing prospects that the Federal Reserve may raise interest rates led to cautiousness on the Street. “India's economic growth rate in the January-March quarter is likely to slip to 7.2 per cent from 7.5 per cent in the previous three months, mainly on account of lower production and weak global demand", credit rating agency Moody's said today. Meanwhile, government is scheduled to announce the data on India's gross domestic product (GDP) growth for Q4 March 2015 on Friday. All the sectoral indices ended in the red, with the exception of the oil sector. The pharma, financials and metal stocks are the major losers today. The BSE SENSEX closed at 27506.71, down by 57.95 points or by 0.21 per cent and then NSE Nifty closed at 8319, down by 15.6 points or by 0.19 per cent.

The BSE MIDCAP closed at 10560.04, down by 56.43 points or by 0.53 per cent while the BSE SMLCAP closed at 11145.04, down by 17.37 points or by 0.16 per cent.

The top gainers of the BSE Sensex pack were Vedanta Ltd. (Rs. 196.90,+2.53 per cent), Tata Motors Ltd. (Rs. 483.55,+2.52 per cent), Infosys Ltd. (Rs. 2014.30,+2.30 per cent), Hero MotoCorp Ltd. (Rs. 2650.00,+1.73 per cent), Bharat Heavy Electricals Ltd. (Rs. 251.95,+1.16 per cent), among others.

The top losers of the BSE Sensex pack were Cipla Ltd. (Rs. 643.40,-2.58 per cent), Tata Power Company Ltd. (Rs. 74.05,-2.18 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 955.75,-1.94 per cent), Mahindra & Mahindra Ltd. (Rs. 1201.45,-1.93 per cent), Bharti Airtel Ltd. (Rs. 401.30,-1.76 per cent), among others.

The top gainers of the NSE Nifty pack were Vedanta Ltd. (Rs. 196.75,+2.69 per cent), Tata Motors Ltd. (Rs. 484.35,+2.67 per cent), Bharat Petroleum Corporation Ltd. (Rs. 817.70,+2.61 per cent), Infosys Ltd. (Rs. 2016.60,+2.44 per cent), Punjab National Bank (Rs. 156.25,+1.96 per cent), among others.

The top losers of the NSE Nifty pack were Cipla Ltd. (Rs. 644.00,-2.59 per cent), Tata Power Company Ltd. (Rs. 74.10,-2.31 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 954.80,-2.13 per cent), Mahindra & Mahindra Ltd. (Rs. 1198.15,-2.02 per cent), Grasim Industries Ltd. (Rs. 3511.85,-1.87 per cent), among others.

Among the thirteen sectoral indices, PSU index was leading the rise and closed at 16628.75 down by 221.58 points or by 1.31 per cent led by Wockhardt Ltd. (Rs. 1434.90,-8.90 per cent), Dishman Pharmaceuticals & Chemicals Ltd. (Rs. 147.00,-5.37 per cent), Claris Lifesciences Ltd. (Rs. 260.10,-2.58 per cent), Cipla Ltd. (Rs. 643.40,-2.58 per cent), Aurobindo Pharma Ltd. (Rs. 1304.15,-2.57 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2750, shares advanced were 1242 while 1391 shares declined and 117 were unchanged.

Story first published: Thursday, May 28, 2015, 16:48 [IST]
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