Thursday, 8 August 2013

Closing Summary, Market Synopsis: 8th August, 2013

Key benchmark indices edged higher in choppy trade as European stocks rose after Chinese trade data for July 2013 signaled improvement in economic conditions for the world's second biggest economy. The BSE Sensex was up by 124 points and CNX Nifty closed at 5565 up by 46 points. The market breadth, indicating the overall health of the market, was strong. Among Nifty 50 stocks the advance to declines stood at 38 advances to 12 declines.

Realty stocks gained for the second straight day. Mining and metal stocks rose after China reported much better than expected trade results for July. China is the world's largest consumer of copper and aluminum. Outperforming sectors on NSE are Metals, Realty & Auto whereas the laggards are PSU Banks, Pharma & Energy.

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