Post-Session: Market ends lower; Sensex below 27, 000 Analysis for Jun 03, 2015

Posted By: Religare
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The Indian benchmarks ended on a negative note for second straight session weighed down by ITC and bank shares. Markets continued to witness selling pressure in noon trades on Wednesday as weak monsoon forecast rekindled fears of higher inflation thereby dimming the prospects of further rate cuts by the central bank. Further, the slow pace of recovery in the economy continued to weigh on market sentiment. Except for IT all other sectoral indices were in the red. BSE Realty index was the top sectoral loser down over 8 per cent followed by FMCG Index which eased nearly 4 per cent. Other losers include Healthcare, Consumer Durables and Power. The BSE SENSEX closed at 26837.2, down by 351.18 points or by 1.29 per cent and then NSE Nifty was at 8135.1, down by 101.35 points or by 1.23 per cent.

The BSE MIDCAP was at 10329.46, down by 145.05 points or by 1.38 per cent while the BSE SMLCAP was at 10828.18, down by 219 points or by 1.98 per cent.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 386.70,+0.81 per cent), Bharti Airtel Ltd. (Rs. 421.25,+0.79 per cent), Infosys Ltd. (Rs. 2023.10,+0.71 per cent), Tata Consultancy Services Ltd. (Rs. 2610.75,+0.40 per cent), NTPC Ltd. (Rs. 138.25,+0.22 per cent), among others.

The top losers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 70.40,-6.13 per cent), ITC Ltd. (Rs. 304.25,-4.59 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 308.05,-3.81 per cent), Vedanta Ltd. (Rs. 187.55,-3.67 per cent), GAIL (India) Ltd. (Rs. 374.55,-3.44 per cent), among others.

The top gainers of the NSE Nifty pack were Idea Cellular Ltd. (Rs. 175.20,+1.59 per cent), Coal India Ltd. (Rs. 387.25,+0.98 per cent), Bharti Airtel Ltd. (Rs. 420.70,+0.62 per cent), Infosys Ltd. (Rs. 2020.90,+0.61 per cent), Bank of Baroda (Rs. 161.25,+0.53 per cent), among others.

The top losers of the NSE Nifty pack were Tata Power Company Ltd. (Rs. 70.85,-5.60 per cent), Bosch Ltd. (Rs. 21713.55,-4.53 per cent), ITC Ltd. (Rs. 304.40,-4.47 per cent), Cairn India Ltd. (Rs. 186.25,-4.04 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 307.85,-3.89 per cent), among others.

Among the thirteen sectoral indices, realty index was leading the decline and closed at 1419.24, down by 83.28 points or by 5.54 per cent led by Unitech Ltd. (Rs. 8.70,-35.27 per cent), Indiabulls Real Estate Ltd. (Rs. 50.65,-8.08 per cent), Anant Raj Ltd. (Rs. 33.25,-7.12 per cent), Housing Development & Infrastructure Ltd. (Rs. 97.35,-6.48 per cent), National Buildings Construction Corporation Ltd. (Rs. 717.80,-5.04 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2824, shares advanced were 603 while 2132 shares declined and 89 were unchanged.

Story first published: Wednesday, June 3, 2015, 16:48 [IST]
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