The Indian benchmarks ended the day on a flat note on October 22, 2013. Markets opened with a gap down and soon after touching the high, reversed its direction and slipped. For almost all part of the day except the last hour, they seemed trading in the band. However, towards the last hour, they gathered some momentum and closed flat. The market is practically waiting for the US non farm job data of September as the international markets will also take their cues from that data. The Nifty ended above 6200, down by 2.15 points at 6202.80. The Sensex closed down by 28.92 points at 20864.97. The broader market outperformed the main indicies. The midcap index and the small cap index closed in green with the gain of seven-tens of a percentage point and more than one percentage point respectively. On the sectoral front, the indicies closed mixed. The Power Index closed as the biggest gainer with the gain of nearly one and three forth of a percentage point. This was followed by the Capital Goods Index which closed with the gain of nearly one and one-tenth of a percentage point. On the other hand the Consumer Durables Index closed as the biggest loser with the loss of nearly nine-tens of a percentage point. As consolidation continued for the second consecutive session today, we believe that the market is preparing ground for the next upmove. We feel, it may touch a new record high in short term as September quarter earnings so far have been good and inflow of foreign money is continuing.
Further, the market breadth closed positive as three stocks were seen advancing against two declining stocks.
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