Key benchmark indices edged lower data showing a muted 2% growth in industrial production in April 2013 & uncomfortably high CPI (9.31%) weighed on sentiment. The BSE Sensex settled at 19041 down by 102 points and Nifty closed at 5760 down by 28.6 points. The market breadth, indicating the overall health of the market, was negative. On BSE, 1,398 shares fell and 967 shares rose. A total of 125 shares were unchanged. On NSE A/D ratio stood at 503: 728, 52 shares were unchanged.
Shares of Tata Group companies declined. Tata Coffee (down 20%), Tata Teleservices Maharashtra (down 19.74%), Tata Power Company (down 3.03%), Tata Communications (down 2.63%), TCS (down 2.06%) and Rallis India (down 0.35%), edged lower. Titan Industries tumbled 13.32% to Rs 204.90, with the stock extending Tuesday's 10.86% losses triggered by the company's announcement that the Reserve Bank of India (RBI) has clarified that all imports of gold for domestic consumption, either through banks, nominated agencies or directly can be made only with 100% cash margin.
Sectors that outperformed are Oil & Gas and Banking, whereas Consumer Durables (down by 7.37%), Metals, IT are the underperformers in today’s market.
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