Thursday, 21 February 2013

Market Synopsis, Closing Summary: 21st February, 2013

The Indian benchmarks ended on a strongly negative note on February 21, 2013. Post ,opening with the gap down on the back of overnight fall on Wall Street after minutes of the US Federal Reserve's latest meeting triggered uncertainty about continuity of the central bank's stimulus plan, benchmarks were seen going down further. In the later half, a new low was formed every hour. The carnage was wide spread and nervous selling was seen across the market with high turnover. Benchmarks suffered their biggest loss in last seven months. The unwinding of derivatives trades could have been one of the major reasons for the collapse. All these led the Sensex to close at the level of 19325.36 i.e. down by 317.39 points and the Nifty to close at the level of 5852.25 i.e. down by 90.80 points. The midcap index and the small cap index closed in red with the loss of one and six-tenth of a percentage point and one and three-forth of a percentage point respectively. On the sectoral front , except for Consumer Durables Index all the indices closed in red . Consumer Durables Index just closed in to positive with the gain of just four basis point of a percentage. On the other hand Metal Index closed as the major looser with the loss of three and a quarter of a percentage point. This was followed by Bankex Index which closed with the loss of more than two and half a percentage point.

Further, the market breadth closed negative as one stock was seen advancing for four declining stocks.

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