Closing Market Update

The Indian benchmarks ended the day on a flat note on June 10, 2013. After opening with a gap up and scaling further heights, the benchmarks could not sustain and started drifting down. The moves were volatile and they finally settled on a flat note. Rupee plunged to a new low and mid caps were battered even as benchmark indices closed flat in a volatile session. With the RBI reluctant to support the rupee, outlook on the currency has turned bearish, and raised fears of foreign investors reducing exposure to Indian equities. But in past, the spike in USDINR has also resulted in making a bottom for benchmark index. It remains to be seen as to what happens this time. All these led the Sensex to close at the level of 19441.07 i.e. up by 11.84 points and the Nifty to close at the level of 5878 i.e. down by 3 points. The midcap index and the small cap index closed in red with the loss of nearly nine-tens of a percentage point and nearly eight-tens of a percentage point respectively. On the sectoral front, all the indicies closed mixed with negative bias. The IT Index closed as the biggest gainer with the gains of more than one percentage point. On the other hand the Consumer Durables Index closed as the biggest loser with a loss of more than two percentage point. This was followed by the Realty Index which closed with the loss of slightly more than one and half of a percentage point.

Further, the market breadth closed negative as five stocks were seen advancing against eight declining stocks.