Wednesday 7 August 2013

Closing Summary, Market Synopsis: 7th August

Photo: Closing Market Update:
Indian share markets recovered a bit but continued to trade below yesterday’s close on August 7, 2013. Majority of the sectoral indices were trading in the green with realty, metal and oil & gas stocks being the biggest gainers. The undercurrent of market was weak. It was expected that the market may go down further if the Reserve Bank of India hiked cash reserve ratio, repo rate or increase the NRI deposit rates to curb the rupee depreciation. The domestic currency remained around the 61-mark against the dollar today. All these led the Sensex to close at the level of 18664.88  i.e. down by 68.16  points and the Nifty to close at the level of 5519.10 i.e. down by 23.15 points.  The midcap index and the small cap index closed in green with the gain of two-third of a percentage point and more than one and quarter of a percentage point respectively. On the sectoral front the indicies closed mixed. Realty index was the biggest gainer with the gain of more than five percentage point. This was followed by Metal Index which gained almost three and three-tens of a percentage point. While on other hand, IT Index was the biggest looser with the loss of one and six-tens of a percentage point. 

Further, the market breadth closed positive as six stocks were seen advancing against five declining stocks.
Indian share markets recovered a bit but continued to trade below yesterday’s close on August 7, 2013. Majority of the sectoral indices were trading in the green with realty, metal and oil & gas stocks being the biggest gainers. The undercurrent of market was weak. It was expected that the market may go down further if the Reserve Bank of India hiked cash reserve ratio, repo rate or increase the NRI deposit rates to curb the rupee depreciation. The domestic currency remained around the 61-mark against the dollar today. All these led the Sensex to close at the level of 18664.88 i.e. down by 68.16 points and the Nifty to close at the level of 5519.10 i.e. down by 23.15 points. The midcap index and the small cap index closed in green with the gain of two-third of a percentage point and more than one and quarter of a percentage point respectively. On the sectoral front the indicies closed mixed. Realty index was the biggest gainer with the gain of more than five percentage point. This was followed by Metal Index which gained almost three and three-tens of a percentage point. While on other hand, IT Index was the biggest looser with the loss of one and six-tens of a percentage point.

Further, the market breadth closed positive as six stocks were seen advancing against five declining stocks.

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