The Indian benchmarks ended the day on a positive note on December 5, 2013. After the euphoric opening with massive surge in volumes, supply started emerging largely from local institutions keeping Nifty under pressure. However beta still remained the flavor of the day with almost all Nifty top gainers being from Banks or Capital Goods sector. On other hand aggressive selling was seen across defensives with all top losers in Nifty from Pharma, IT & FMCG sector. Banking showed biggest single day outperformance since Sep'13. Pharma showed biggest underperformance since Sep'13 while FMCG since Jun'13. Despite the weakness in Nifty, players continued to move out from defensives into beta very aggressively reflecting strong confidence. Breadth remained weak at 1.1 times as buying was confined to large caps only. Hence Midcap & Small cap underperformed Nifty sharply by 1.2% & 1% respectively. The Sensex closed up 249.10 points or 1.20 percent at 20957.81, and the Nifty jumped 80.15 points or 1.30 percent up to close at 6241.10.
Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.
Further, the market breadth closed neutral as one stock was seen advancing against each declining stock.
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