It was a day of consolidation, which came in after seeing 500 points of rally in the last two sessions on the Sensex. The benchmark indices ended marginally higher, on the back of support from capital goods, realty, banking, pharma, select auto stocks as well as Reliance Communication and Reliance Industries.
However, metal, FMCG stocks as well as NTPC, ONGC, Bharti Airtel, Reliance Infrastructure, Tata Motors and Infosys were under pressure. Railway and Airline stocks were buzzing today while sugar stocks witnessed profit booking.
The markets had started the day with choppy trade but after half an hour of trade, both indices turned into green and traded higher. That small rally had also got fizzled out and indices turned choppy again in last two hours of trade on weak global cues.
The 30-share BSE Sensex closed higher at 9,647.47, up 63.58 points or 0.66%. The 50-share NSE Nifty has touched a high of 2957.40 during the day, before ending at 2934.50, up 14.60 points or 0.5% over previous close.
Rate sensitive and infrastructure stocks have provided good support to benchmark indices. BSE Realty Index surged 6.58% or 94.88 points, to 1,536.13. Unitech, DLF and Indiabulls Real were up 6-9.5%.
BHEL, Punj Lloyd, L&T and Siemens gained 2-4% in the capital goods space. BSE Capital Goods index went up 197.32 points or 3.14%, to 6,484.30.
Banking was another sector witnessed buying interest, BSE Bankex jumped 57.18 points or 1.16% higher, to 4,972.69. HDFC Bank and Kotak Mahindra jumped 3% each. SBI was up 1.44%.
BSE Healthcare Index ended with a gain of 31.15 points or 1.14% at 2,756.31. Sun Pharma, Ranbaxy Labs, Biocon, Wockhardt, Dishman Pharma and Cipla went up 0.75-2.5%.
There was a mixed picture in auto, oil & gas and power sectors, though indices ended higher. Among auto stocks, BSE Auto Index was up 24.96 points or 1%, to 2,511.14. M&M and Maruti Suzuki were up 2-3.4% while Bharat Forge, Ashok Leyland and Tata Motors fell 1.8-3%.
HPCL, Reliance Industries and BPCL were gainers while Cairn India and ONGC losers in the oil & gas space. BSE Oil & Gas Index went up 0.57%, to 6,584.79.
Power stocks like Tata Power, Torrent Power and CESC witnessed buying interest while GVK Power, GMR Infra, Reliance Infra, NTPC and Power Grid Corp were under pressure. Power Index shut shop at 1,816.26, up 9.58 points or 0.53%.
MTNL, Reliance Communication, Tata Comm and Idea Cellular were gainers while Bharti Airtel and Tata Teleservices were losers in the telecom space.
Zee stocks were in limelight again; Zee Entertainment, Dish TV India and Zee News were up 2-9.5%.
IT Index closed flat at 2,240.26. TCS gained 1.63% while HCL Tech, Wipro and Infosys lost ground.
However, metal and FMCG stocks witnessed selling pressure. BSE Metal index fell 1.43% or 76.42 points, to 5,251.46 and FMCG index was down 16.08 points or 0.78%, to 2,043.34. In the metal space, SAIL, Hindalco, Jindal Saw, Jindal Steel, Tata Steel and Sterlite Industries went down 1.1-3.9%.
Among FMCG stocks, United Breweries, ITC, Godrej Consumer and HUL fell 0.6-2.5%.
Market breadth was positive; advances outnumberd declines. About 1,543 shares advanced while 1,283 shares declined. Nearly 185 shares remained unchanged.
Broader indices also closed higher; BSE Midcap index went up 22.30 points or 0.76%, to end at 2,954.25 and Small Cap index was up by 9.81 points or 0.29% at 3,342.52.
In the midcap space, Educomp Solutions, Praj Industries, Jagran Prakashan, Kansai Nerolac and Emami jumped 8-18.5%.
GSS America Info, Himadri Chem, Piramal Life and Aegis Logistics rose 18-20% in the small cap segment.
Stone India, Kalindee Rail Nirman, Titagarh Wagons, Texmaco and Kernex Microsystems went up 5-14.5% ahead of Railway Budget.
SpiceJet surged 14%, Jet Airways and Kingfisher Airlines were up 0.5-1.6%, as these companies increased basic fares sharply.
However, sugar stocks like Bajaj Hindusthan, Balrampur Chini and Triveni Engineering went down 5.5-6.7%.
The volumes were higher as compared to previous sessions; total traded turnover stood at Rs 52,452.20 crore. This includes Rs 9,715.09 crore from NSE cash segment, Rs 39,017.91 crore from NSE F&O and the balance Rs 3,719.20 crore from BSE cash segment.
At the time of closing of India equities, global markets were weak, ahead of US stimulus package. Among European markets, FTSE went down 61 points, to 4,246. CAC was trading at 3,086, down 48 points and DAX was at 4,582, down 84 points.
Dow Jones Futures lost 88 points, to 8,130 and Nasdaq Futures fell 13 points, to 1,262.75.
Asian markets ended mixed. Shanghai jumped 1.82% and Straits Times went up 1.25%. Hang Seng and Taiwan gained 0.7-0.81%. However, Nikkei and Kospi lost 0.3% each.
Courtesy: Money Control
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