The Indian benchmarks ended on a weaker note on May 03, 2013. After opening weak, they started drifting down and the fall got accentuated once the outcome of RBI’s credit policy was declared. RBI reduced the Repo Rate by twenty five basis points and kept the CRR unchanged. However, the tone of the policy was hawkish and the central bank warned that there is ‘little space’ for further monetary easing. All these led the Sensex to close at the level of 19575.64 i.e. down by 160.13 points and the Nifty to close at the level of 5944.00 i.e. down by 55.35 points. The midcap index and the small cap index closed in red with a loss of nearly three-tens of a percentage point and four-tens of a percentage point respectively. On the sectoral front, the indices closed mixed. Metal Index was the biggest gainer with the gain of nearly one and a half percentage points. . This was followed by Capital Goods Index which closed with a gain of nearly nine-tens of a percentage point. On the other hand Bankex Index closed as the major loser with a loss of nearly two and a half percentage points.
Further, the market breadth closed negative as five stocks were seen advancing against nine declining stocks.
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