Post Session: Sensex ends 57 points lower, Nifty holds 8100 mark Analysis for Oct 13, 2015

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The Indian equities extended losses for a second day on Tuesday amid profit booking by investors on mixed macroeconomic data, and weak trend in other Asian markets. Technology stocks remained under pressure after IT bellwether Infosys lowered its dollar revenue guidance for 2015-16, raising concerns over the outlook of the sector. Traders also turned cautious ahead of the release of July-September quarter numbers of IT giant TCS later in the day.

The 30-share BSE SENSEX closed at 26846.53, down by 57.58 points or by 0.21 per cent and the NSE Nifty ended 11.9 points lower at 8131.70.

In the bearish trade, the BSE Sensex touched intraday high of 26918.52 and intraday low of 26719.1, while the NSE Nifty touched day"s high and low of 8150.25 and 8088.6, respectively.

Market sentiments remained weak as a surge in factory output was offset by quickening of consumer inflation which crimped room for further monetary policy easing by the RBI in Asia's third biggest economy. While India's industrial production rose at the quickest pace in nearly three years at 6.4 per cent, year on year in August 2015, retail inflation accelerated to 4.41 per cent in September 2015 from a record low of 3.66 per cent in August 2015, dampening the chances of another rate cut by the RBI in the near-term.

Bucking the trend, the broader market ended in positive terrain, with the BSE MIDCAP settling at 10957.09, up by 2.39 points or by 0.02 per cent, while the BSE SMLCAP closed at 11395.89, up by 46.32 points or by 0.41 per cent.

On the sectoral front, IT and Teck indices emerged as top losers for the second day, falling 1.03 per cent and 0.87 per cent, respectively.

Leading the decline on BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 254.30,-3.47%), Hindalco Industries Ltd. (Rs. 85.85,-3.16%), Vedanta Ltd. (Rs. 108.10,-2.48%), Tata Steel Ltd. (Rs. 245.25,-2.35%), Infosys Ltd. (Rs. 1098.80,-2.11%), among others.

Meanwhile, Coal India Ltd. (Rs. 340.20,+1.70%), Bajaj Auto Ltd. (Rs. 2459.10,+1.39%), Bharat Heavy Electricals Ltd. (Rs. 208.45,+1.39%), Maruti Suzuki India Ltd. (Rs. 4280.10,+1.13%), ITC Ltd. (Rs. 344.10,+1.00%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2943, shares advanced were 1560 while 1250 shares declined and 133 were unchanged.

On the global front, the Asian equities ended mostly in negative terrain, as markets in Hong Kong fell after China"s imports plunged for the eleventh month on the trot, dropping 17.7 per cent, year on year in yuan terms in September. Recovering from early losses, China"s Shanghai Composite closed marginally higher, while Japanese markets ended in red on reopening after a holiday.

Story first published: Tuesday, October 13, 2015, 16:36 [IST]
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