Monday, 25 March 2013

Closing Market Update

Closing Market Update
The Indian benchmarks ended on a weak note on March 25, 2013 . After opening with a gap up on positive international cues, benchmarks immediately scaled highs of the day and then were seen trading in similar levels. However , it was in the later half that a massive selling pressure emerged as country’s political crisis deepened. It was reported that Mulayam Singh Yadav’s Samajwadi Party, which supports the government from outside, may pull the plug on the UPA government leading to an early polls. Talks of early polls, which analysts say can be in October generated the selling pressure towards the close of the market. Thus the benchmarks closed, consecutively seventh day in negative. These led the Sensex to close at the level of 18681.42 i.e. down by 54.18 points and the Nifty to close at the level of 5633.85 i.e. down by 17.50 points. The midcap index and the small cap index closed in red with the loss of one-third of a percentage point and eight-tenth of a percentage point respectively. On the sectoral front the indicies closed mixed. Capital Goods Index was the biggest looser with the loss of nearly one and half a percentage point. This was followed by Auto Index which closed with the loss of more than three-forth of a percentage point. On the other hand Realty Index closed as the biggest gainer with the gain of more eight-tenth of a percentage point.

Further, the market breadth closed negative as two stocks were seen advancing against three declining stocks.

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