Tuesday 11 June 2013

Closing Summary, Market Synopsis: 11th June, 2013

The Indian benchmarks ended the day on a negative note on June 11, 2013. After opening with a gap down, benchmarks drifted downwards consistently. During the middle of the day, they did try to bounce back but could not sustain the rise and closed towards the low of the day. The rupee continued its one way slide, and today made a fresh low, breaching 58.98 per dollar intraday Tuesday as more foreign institutional investors (FIIs) sold their debt holdings after US yields spiked further yesterday post the S&P upgrade. This had put tremendous pressure on the market as no fresh demand of equities was coming in. All these led the Sensex to close at the level of 19143 i.e. down by 298.07 points and the Nifty to close at the level of 5788.80 i.e. down by 89.20 points. The midcap index and the small cap index closed in red with the loss of one and six-tens of a percentage point and slightly more than one and eight-tens of a percentage point respectively. On the sectoral front, all the indicies closed in red. The Consumer Durables Index closed as the biggest loser with a loss of more than six and one-third of a percentage point. This was followed by the Metal Index which closed with the loss of slightly more than four and one-tenth of a percentage point.

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

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