Tuesday, 6 August 2013

Closing Summary, Market Synopsis: 6th August, 2013

The Indian equity markets traded weak throughout the day on August 6, 2013. Selling activity was witnessed in stocks across the board with those from the consumer durables, realty and banking spaces leading the pack of losers. The key concerns surrounding the markets seemed to be the further decline in the Rupee against the dollar, which could possibly trigger action from the Reserve Bank of India (RBI) and government. The rupee hit a fresh record low of 61.80 to the dollar, as the ‪‎RBI‬’s efforts to boost the currency is having little effect in a face of a strengthening dollar. All these led the ‪‎Sensex‬ to close at the level of 18733.04 i.e. down by 449.22 points and the Nifty to close at the level of 5542.25 i.e. down by 143.15 points. The midcap index and the small cap index closed in red with the loss of two and six-tens of a percentage point and more than one and three-forth of a percentage point respectively. On the sectoral front all the indicies closed in red. IT index was the smallest looser with the loss of nearly half a percentage point. While on other hand, Consumer Durables Index was the biggest looser with the loss of more than five and half percentage point. This was followed by Realty Index which lost almost four and half a percentage point.

Further, the market breadth closed negative as four stocks were seen advancing against eleven declining stocks.

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