The Indian benchmarks ended the day on a negative note on June 7, 2013. After opening flat with negative bias, they started losing ground in the early part of the day. However, soon some short covering emerged from near to the low of yesterday and benchmarks rebounded. Though, in the later part, the benchmarks lost momentum as rupee was seen depreciating against the rupee very sharply. This resulted in pressing of fresh sales in the market. Investors continued to take a defensive approach, buying shares of IT, pharma and FMCG companies. FIIs have net sold close to Rs 4000 crore in the debt market in the first three trading sessions this month due to yields narrowing in anticipation of interest rates falling. All these led the Sensex to close at the level of 19429.23 i.e. down by 90.26 points and the Nifty to close at the level of 5881 i.e. down by 40.40 points. The midcap index and the small cap index closed in red with the loss of ten basis points of a percentage point and more than half a percentage point respectively. On the sectoral front, all the indicies except two closed in red. The IT Index closed as the biggest gainer with the gains of more than one and half a percentage point. On the other hand the Auto Index closed as the biggest loser with a loss of slightly less than one and four-tenth of a percentage point. This was followed by the Realty Index which closed with the loss of slightly more than one and one-third of a percentage point.
Further, the market breadth closed negative as three stocks were seen advancing against two declining stocks.
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