Friday, 15 March 2013

Closing Summary, Market Synopsis: 15th March, 2013

Closing Market Summary:
The Indian benchmarks ended on a weaker note on March 15, 2013, when in the second half they lost the earlier gained ground. After opening flat, they moved slightly up but could not sustain under continuous selling pressure. Banking stocks were still bearing the brunt of Cobrapost money laundering expose. All this selling pressure coupled with the lack of follow up buying at higher levels pushed the benchmarks down. Investors were also not in the mood of increasing their commitment prior to the RBI Credit Policy Announcement to be done on March 19, 2013.These led the Sensex to close at the level of 19427.56 i.e. down by 142.88 points and the Nifty to close at the level of 5872.60 i.e. down by 36.35 points. The midcap index and the small cap index closed in red with the loss of nearly two-third of a percentage point and eight-tenth of a percentage point. On the sectoral front, the indices closed mixed. Consumer Durables Index closed as the major gainer with the gains of nearly two and half percentage point. This was followed by IT Index which closed with the gain of quarter of a percentage point. On the other hand Realty Index was the biggest looser with the loss of more than two and three-forth of a percentage point.

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

Photo: Closing Market Summary:
The Indian benchmarks ended on a weaker note on March 15, 2013, when in the second half they lost the earlier gained ground. After opening flat, they moved slightly up but could not sustain under continuous selling pressure.  Banking stocks were still bearing the brunt of Cobrapost money laundering expose. All this selling pressure coupled with the lack of follow up buying at higher levels pushed the benchmarks down. Investors were also not in the mood of increasing their commitment prior to the RBI Credit Policy Announcement to be done on March 19, 2013.These led the Sensex to close at the level of 19427.56 i.e. down by 142.88 points and the Nifty to close at the level of 5872.60 i.e. down by 36.35 points. The midcap index and the small cap index closed in red with the loss of nearly two-third of a percentage point and eight-tenth of a percentage point. On the sectoral  front,  the indices closed mixed. Consumer Durables Index closed as the major gainer with the gains of nearly two and half percentage point.  This was followed by IT Index which closed with the gain of quarter of a percentage point. On the other hand Realty Index was the biggest looser with the loss of more than two and three-forth of a percentage point.
 
Further, the market breadth closed negative as one stock was seen advancing against two declining stocks.

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