Thursday 18 July 2013

Closing Summary, Market Synopsis: 18th July, 2013

Photo: Closing Market Update: 
The Indian benchmarks ended the day on a positive note on July 18, 2013. They opened the day flat and were seen consolidating in a tight range. For last few days, bank index was giving divergent moves to the main index and this divergence was increasing. Probably for this reason the main line index like Nifty and sensex were not able to scale heights in spite of being in positive mood. But toady in the later part of the day, Bank index had corrected sharply and then came the quarterly performance of Axis Bank. This was better than expected and this pushed the benchmarks to move sharply ahead. The short covering in banks, capital goods and oil & gas stocks pushed the indicies up. All these led the Sensex to close at the level of 20128.41 i.e. up by 179.68 points and the Nifty to close at the level of 6038.05 i.e. up by 64.75 points. The midcap index and the small cap index closed green with the gain of three-fourth of a percentage point and almost quarter of a percentage point respectively. On the sectoral front, all the indicies closed in green. The Realty Index closed as the biggest gainer with the gain of more than two and half percentage point. This was followed by the Bank index which closed with the gain of more than two percentage point. On the other hand Auto Index closed as the smallest gainer with the gain of quarter of a percentage point.
 Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.
The Indian benchmarks ended the day on a positive note on July 18, 2013. They opened the day flat and were seen consolidating in a tight range. For last few days, bank index was giving divergent moves to the main index and this divergence was increasing. Probably for this reason the main line index like Nifty and sensex were not able to scale heights in spite of being in positive mood. But toady in the later part of the day, Bank index had corrected sharply and then came the quarterly performance of Axis Bank. This was better than expected and this pushed the benchmarks to move sharply ahead. The short covering in banks, capital goods and oil & gas stocks pushed the indicies up. All these led the Sensex to close at the level of 20128.41 i.e. up by 179.68 points and the Nifty to close at the level of 6038.05 i.e. up by 64.75 points. The midcap index and the small cap index closed green with the gain of three-fourth of a percentage point and almost quarter of a percentage point respectively. On the sectoral front, all the indicies closed in green. The Realty Index closed as the biggest gainer with the gain of more than two and half percentage point. This was followed by the Bank index which closed with the gain of more than two percentage point. On the other hand Auto Index closed as the smallest gainer with the gain of quarter of a percentage point.
Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.

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