Mid Session: Nifty holds psychological 8000 level; metal, financial stocks shine Analysis for Jun 09, 2015

Posted By: Religare
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Supported by gains in the metal, consumer durables and financial stocks, the Indian benchmark indices slimmed most of its early losses and were trading near baseline. However, losses in the broader market capped upmove as investors sentiment were spooked by fear of weak monsoon. Weak cues from global peers further injected negativity in the market. On the global front, Asian peers were trading on mix note as investors reacted negatively to better-than-expected US employment data which boosted the case for the Federal Reserve to raise interest rates this year.

At 12:25 PM BSE SENSEX was at 26504.21 down by 18.88 points or by 0.07 per cent and the NSE Nifty was at 8029.5 down by 14.65 points or by 0.18 per cent.

In line with the benchmark indices, the broader market were also trading lower with the BSE MIDCAP trading at 10140.26 down by 53.74 points or by 0.53 per cent, while the BSE SMLCAP was at 10648.2 down by 49.36 points or by 0.46 per cent.

In the bearish trade so far, the BSE Sensex touched intraday high of 26585.9 and intraday low of 26446.5, while the NSE Nifty touched intraday high of 8057.15 and intraday low of 8007.55.

The top losers of the BSE Sensex pack were Cipla Ltd. (Rs. 600.10,-2.27%), Dr. Reddy's Laboratories Ltd. (Rs. 3335.00,-2.17%), Sun Pharmaceutical Industries Ltd. (Rs. 813.50,-1.96%), Oil And Natural Gas Corporation Ltd. (Rs. 303.35,-0.98%), Bharti Airtel Ltd. (Rs. 406.70,-0.94%), among others.

On the flip side, Vedanta Ltd. (Rs. 183.90,+3.87%), Hindalco Industries Ltd. (Rs. 120.35,+1.95%), ICICI Bank Ltd. (Rs. 286.90,+1.29%), Hindustan Unilever Ltd. (Rs. 822.20,+1.27%), Axis Bank Ltd. (Rs. 560.00,+1.19%), were among top gainers on BSE.

Among the thirteen sectoral indices, healthcare index was top loser and was trading at 15489.91 down by 237.14 points or by 1.51 per cent. Vivimed Labs Ltd. (Rs. 185.40,-10.00%), Alembic Ltd. (Rs. 30.20,-3.97%), Apollo Hospitals Enterprise Ltd. (Rs. 1179.60,-2.44%), Aarti Drugs Ltd. (Rs. 569.00,-2.32%), Abbott India Ltd. (Rs. 3717.05,-2.29%), were among top losers.

Following the HCS index, BSE Realty index was at 1379.22 down by 17.27 points or by 1.24 per cent. Unitech Ltd. (Rs. 8.07,-5.83%), Housing Development & Infrastructure Ltd. (Rs. 94.65,-3.57%), Indiabulls Real Estate Ltd. (Rs. 47.15,-2.58%), Prestige Estates Projects Ltd. (Rs. 246.60,-1.85%), Phoenix Mills Ltd. (Rs. 349.05,-1.68%), were among others dragging the market.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2361, shares advanced were 855 while 1420 shares declined and 86 were unchanged.

Story first published: Tuesday, June 9, 2015, 13:12 [IST]
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