The Indian benchmarks ended the day on a weak note on July 16, 2013 compared to the previous day. They opened the day with a gap down on the back of RBI measures to support INR which was expected to have significant implications for economy. This also indicated that easing was to get delayed till INR stabalised. Many had downward revision of FY14 GDP by 25-50bps on back of delayed rate cut. However Nifty futures held 5900 support & reversed from 5910 lows averting unwinds at 5900 puts. Nifty failed to see follow-on selling & quickly started inching up despite a continued sell-off in Banking stocks. It was again defensives which saved the day. All these led the Sensex to close at the level of 19851.23 i.e. down by 183.25 points and the Nifty to close at the level of 5955.25 i.e. down by 75.55 points. The midcap index and the small cap index closed in red with the loss of almost one and half of a percentage point and eight-tens of a percentage point respectively. On the sectoral front, the indicies closed mixed. The FMCG Index closed as the biggest gainer with the gain of more than one and eight-tens of a percentage point. This was followed by the Oil & Gas Index which closed with the gain of three-fourth of a percentage point. On the other hand the Realty Index closed as the biggest loser with the loss of more than five and eight-tens of a percentage points.
Further, the market breadth closed negative as five stocks were seen advancing against eight declining stocks.
Further, the market breadth closed negative as five stocks were seen advancing against eight declining stocks.
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