Thursday, 14 March 2013

Closing Summary, Market Synopsis: 14th March, 2013

The Indian benchmarks ended on a strongly positive note on March 14, 2013, when they closed near to the high point of the day. After opening flat, the markets were drifting in a narrow band. However, media reports of involvement of private banks in money laundering dampened the sentiment and pushed the market down to the day’s low. Post the clarification issued by banks, Investors bought banking stocks as the market was expecting a rate cut in Reserve Bank of India's monetary policy on March 19. Thus market picked up steam in the afternoon trade. These led the Sensex to close at the level of 19570.44 i.e. up by 207.89 points and the Nifty to close at the level of 5908.95 i.e. up by 57.75 points. The midcap index closed in green with the gain of nearly half a percentage point. While the small-cap index closed in red with the loss of nine basis points of a percentage point. On the sectoral front, all the indices, excepting one sectoral index closed in green. Realty Index closed as the major gainer with the gains of nearly two and one fifth of a percentage point. This was followed by Bank Index which closed with the gain of slightly more than two percentage points. On the other hand Consumer Durables Index was the biggest looser with the loss of nearly one and half percentage point.

Further, the market breadth closed in neutral position as one stock was seen advancing against each declining stock.

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