Friday 5 July 2013

Closing Summary, Market Synopsis: 5th July, 2013


The Indian benchmarks ended the day on a positive note on July 5, 2013. They opened the day with a gap up and tried to scale up to higher levels but could not sustain. Throughout the day benchmarks moved sideward with in a band but in positive zone. During the day, there was a sharp spike in USDINR and the rupee weakened. Initially, it seemed that there was dollar buying by Oil Psus. However later, it was reported that some foreign banks have also started buying the dollar. This was construed as probable FII selling and this pushed the benchmarks sharply down during the middle of the day. Now markets were waiting for the US non farm pay roll data and unemployment rate to be released today evening, as these will influence the timing of the tapering of Quantitative Easing. This led the Sensex to close at the level of 19495.82 i.e. up by 84.98 points and the Nifty to close at the level of 5867.90 i.e. up by 30.95 points. The midcap index and the small cap index closed in green with the gain of eighteen basis points of a percentage point and quarter of a percentage point respectively. On the sectoral front, all the indicies except two closed in green. The Oil & Gas Index closed as the biggest gainer with the gain of nearly one and half a percentage point. This was followed by the FMCG Index which closed with the gain of nine-tens of a percentage point. On the other hand the Teck Index closed as the biggest loser with the loss of more than half a percentage point.

Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.

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