The Indian benchmarks ended the day on a flat note with a positive bias on July 17, 2013 compared to the previous day. They opened the day also flat and had a volatile move within a band. The recovery in the benchmarks came in the last trading hour of the day. The day was characterized by sharp up move in FMCG stocks. Hindustan Unilever was the biggest gainer, up ten percent and was in focus as MSCI & FTSE re-balancing concluded. This helped the benchmarks to close firm, else they would have closed in negative due to tremendous pressure which the bank stocks were facing. Again markets will be watching the congressional testimony that the Fed Chief will be making tonight. All these led the Sensex to close at the level of 19948.76 i.e. up by 97.50 points and the Nifty to close at the level of 5973.30 i.e. up by 18.50 points. The midcap index and the small cap index closed in red with the loss of half of a percentage point and almost quarter 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 nearly three and four-tens of a percentage point. This was followed by the Consumer Durables Index which closed with the gain of one and one-tens of a percentage point. On the other hand the Bank Index closed as the biggest loser with the loss of nearly two and one-third of a percentage point.
Further, the market breadth closed negative as four stocks were seen advancing against five declining stocks.
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