Closing Market Synopsis
The Indian benchmarks ended on a drastically weak note on February 26, 2013. They opened with the gap down on the back of weak international markets due to outcome of Italian election which has resulted in a hung parliament . There were wide spread worries that the European debt crisis could be extended owing to emerging political uncertainty in Italy. As a result of this the markets across the globe went in to risk off mode. The European markets were rattled. Even the Railway budget presented today disappointed the Indian market. All these led the Sensex to close at the level of 19015.14 i.e. down by 316.55 points and the Nifty to close at the level of 5761.35 i.e. down by 93.40 points. The midcap index and the small-cap index closed in red with the loss of nearly two and half a percentage point and one and three-forth of a percentage point respectively. On the sectoral front , most of the indices except two closed in red. IT Index closed as the major gainer with gains of nine-tenth of a percentage point. This is followed by Teck Index which closed with the gains of more than three-forth of a percentage point. On the other hand, Oil & Gas Index was the biggest looser with the loss of more than three percentage point followed by Auto Index, which closed with the loss of two and three-forth of a percentage point.
Further, the market breadth closed in negative as one stock was seen advancing against five declining stocks.
The Indian benchmarks ended on a drastically weak note on February 26, 2013. They opened with the gap down on the back of weak international markets due to outcome of Italian election which has resulted in a hung parliament . There were wide spread worries that the European debt crisis could be extended owing to emerging political uncertainty in Italy. As a result of this the markets across the globe went in to risk off mode. The European markets were rattled. Even the Railway budget presented today disappointed the Indian market. All these led the Sensex to close at the level of 19015.14 i.e. down by 316.55 points and the Nifty to close at the level of 5761.35 i.e. down by 93.40 points. The midcap index and the small-cap index closed in red with the loss of nearly two and half a percentage point and one and three-forth of a percentage point respectively. On the sectoral front , most of the indices except two closed in red. IT Index closed as the major gainer with gains of nine-tenth of a percentage point. This is followed by Teck Index which closed with the gains of more than three-forth of a percentage point. On the other hand, Oil & Gas Index was the biggest looser with the loss of more than three percentage point followed by Auto Index, which closed with the loss of two and three-forth of a percentage point.
Further, the market breadth closed in negative as one stock was seen advancing against five declining stocks.
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