The Indian benchmarks ended on a weak note on January 24, 2013. After opening slightly negative, they soon gained momentum downward in the absence of any trigger. Investors and traders dumped the shares of midcap and small cap companies as carnage in stocks like HDIL , a realty firm, spread in to other stocks like IVRCL, IRB Infra etc. In the case of HDIL market is suspecting that the company is facing severe financial crunch. This weak sentiment also spread to the large cap stocks to an extent. This led the Sensex to close at the level of 19923.78 i.e. down by 102.83 points and the Nifty to close at the level of 6019.35 i.e. down by 34.95 points. The midcap index and the small cap index closed in red with the loss of nearly two and a half percentage point each. On the sectoral front, the indices closed mixed. FMCG index closed as the largest gainer with the gains of more than a percentage point. On the other hand, Realty index closed as the major loser with losses of more than four percentage points, followed by Auto Index, which lost two and a half percentage points.
Further, the market breadth closed considerably negative as one stock was seen advancing for every five declining stocks.
Further, the market breadth closed considerably negative as one stock was seen advancing for every five declining stocks.
No comments:
Post a Comment