Thursday, 13 June 2013

Closing Summary, Market Synopsis: 13th June, 2013

The Indian benchmarks ended the day on a negative note on June 13, 2013. After opening with a gap down, benchmarks lifted up but could not sustain and soon came down. Then they practically traded sideward for the whole day. Finance Minister P Chidambaram's assurances on the health of the economy failed to calm jittery investors. Rating agency Fitch late Wednesday raised its outlook on India's sovereign rating to 'stable' from 'negative', but the market ignored the upgrade in the face of too many negative macro data points. The benchmarks closed at the lowest level in last two months and traders were unwilling to look for bargains due to weakening rupee and bearish sentiment on the international scene. All these led the Sensex to close at the level of 18827.16 i.e. down by 213.97 points and the Nifty to close at the level of 5699.10 i.e. down by 61.10 points. The midcap index and the small cap index closed in red with the loss of one and three-tens of a percentage point and slightly more than one percentage point respectively. On the sectoral front, all the indicies except one closed in red. The Consumer Durables Index closed as the biggest gainer with a gain of more than one and half a percentage point. On the other hand the Auto Index closed as the biggest loser with a loss of two and one-third of a percentage point. This was followed by the Realty Index which closed with the loss of two and three-tens of a percentage point.

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

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