Published on March 12, 2014
Benchmarks manage to end in green after zigzagging Market Snapshot | 12-03-2014 04:22 PM Following a traumatic start amidst sluggish global cues, Indian indices recuperated in late morning session. Jerky markets pared some of its gains as investors opted to remain on sidelines ahead the announcement of IIP data for January and CPI data for February. Both barometer gauges managed to make a green close with Sensex gaining 30 points. On BSE sectorial front, HealthCare was the top gainer. Among global peers, the worries over Chinese economic outlook persisted that dragged the US markets, shrugging off the report of more than expected rise in wholesale inventories in the month of January. Asian and European indices too plunged in deep red with Nikkei taking the lead by tanking over 2%. Back home, on currency front, Rupee weakened against Dollar due to increased dollar demand from importers. In futures trades, INR hit an intra-day high of 61.22/USD and an intra-day low of 61.44/USD. In spot trades, INR hit an intra-day high of 61.03/USD and an intra-day low of 61.23/USD. As per RBI reference rate, INR stood at 61.09/USD. (Read More) On commodity front, Gold spiked as the global issues of Russia-Ukraine crisis and Chinese economic slowdown, lifted the precious metal’s safe-haven appeal for investors. In futures trade, Gold hit an intra-day high of Rs 30515 per 10 gms and an intra-day low of Rs 30280 per 10 gms. (Read More) On stock-specific front, L&T Finance Holdings and Just Dial climbed up to 5% after NSE declared to include both in F&O segment from March 13, 2014. (What’s Hot) Vardhman Textiles soared 4.13% on BSE after private equity firm Baring India bought an additional stake of 1.2% or 762,964 shares of the company at Rs 327.92 per share via open market route for a total consideration of Rs 25 crore. (Read More) Spice Jet jumped 3.32% on BSE as the budget airlines has agreed to buy around 40 Boeing jets worth over $4 billion. Additionally, the company has also announced a 'Super Holi Sale' within which, it will sell the tickets at as low as Rs 1999 Vascon Engineers rallied 9.95% on BSE as the company will raise Rs 100-150 crore via asset sales and rights issue. Recently, the company has secured orders worth Rs 245 crore for construction of two residential projects and will enjoy margins of around 15% for these projects. (Read More) T he market breadth on the BSE closed in negative. Advancing and declining stocks were 1371 and 1490 respectively, while 184 scrips remained unmoved. The S&P BSE Sensex ended at 21856.22, up 29.80 points or 0.14%. The 30 share index touched a high and a low of 21965.95 and 21768.14 respectively. 13 stocks advanced against 17 declining ones on the benchmark index. The CNX Nifty gained 5.00 points or 0.08% to settle at 6516.90. The index touched high and low of 6546.15 and 6487.30 respectively. 21 stocks advanced against 29 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6708.22 and gained 0.07% while S&P BSE Small-cap index jumped up by 0.01% to 6665.13. The broader S&P BSE 500 index increased to 7988.33 (up 0.05%) and CNX 500 index rose to 5028.70 (up 0.03%). The volatility as denoted by INDIA VIX lost 1.67% at 17.04 from its previous close of 17.33 on Tuesday. Sectors in action On the BSE Sectorial front, Healthcare (up 1.23%), FMCG (up 1.22%) and Consumer Durables (up 0.86%) were the top gainers. Capital Goods (down 0.73%), Oil & Gas (down 0.73%) and Automobile (down 0.66%) were the top losers.