Closing Market Update:
The Indian benchmarks ended on a flat note on March 26, 2013 . After opening with a gap down on negative international cues, benchmarks immediately made a bottom and reversed. Subseqently they were seen trading in a narrow band. However, they could not sustain the gains and retraced to close slightly higher than the previous day. Investors continued to be worried because of renewed political turbulence, which has increased the possibility of early elections. But more than early elections, investors are worried that the present government may no longer be able to push through any major economic reforms as government will be bothered with its survival first. These led the Sensex to close at the level of 18704.53 i.e. up by 23.11 points and the Nifty to close at the level of 5641.6 i.e. up by 7.75 points. The midcap index closed in red with the loss of ten basis points and the small cap index closed marginally in green with the gain of four basis of a percentage point . On the sectoral front the indicies closed mixed. Oil & Gas Index was the biggest looser with the loss of more than two percentage point. This was followed by Realty Index which closed with the loss of slightly less than two percentage point. On the other hand Consumer Durables Index closed as the biggest gainer with the gain of more than one and half percentage point.
Further, the market breadth closed negative as five stocks were seen advancing against seven declining stocks.
The Indian benchmarks ended on a flat note on March 26, 2013 . After opening with a gap down on negative international cues, benchmarks immediately made a bottom and reversed. Subseqently they were seen trading in a narrow band. However, they could not sustain the gains and retraced to close slightly higher than the previous day. Investors continued to be worried because of renewed political turbulence, which has increased the possibility of early elections. But more than early elections, investors are worried that the present government may no longer be able to push through any major economic reforms as government will be bothered with its survival first. These led the Sensex to close at the level of 18704.53 i.e. up by 23.11 points and the Nifty to close at the level of 5641.6 i.e. up by 7.75 points. The midcap index closed in red with the loss of ten basis points and the small cap index closed marginally in green with the gain of four basis of a percentage point . On the sectoral front the indicies closed mixed. Oil & Gas Index was the biggest looser with the loss of more than two percentage point. This was followed by Realty Index which closed with the loss of slightly less than two percentage point. On the other hand Consumer Durables Index closed as the biggest gainer with the gain of more than one and half percentage point.
Further, the market breadth closed negative as five stocks were seen advancing against seven declining stocks.
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