The benchmark BSE Sensex today snapped its five-day winning spree by losing a marginal 5.83 points to settle at 28,879.38, dragged down by profit-taking in the recent outperformers.
The NSE Nifty, however, managed to rise for the sixth straight session.
Caution prevailed ahead of the key economic IIP data for February to be released after trading hours and beginning of the fourth quarter earning season next week, brokers said.
Market Outlook by Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services
Market remained volatile with profit booking in Private Banks and Pharma sectors. March CPI inflation to be released on Monday will be important as the trajectory of inflation will help understand RBI’s future rate cut decisions. The consensus for March CPI is 5.5% YoY, marginally higher than 5.37% in February. But going forward, Q4FY15 earnings will gain focus to understand the outlook for various sectors. Impact from reduced demand from rural and international market, currency fluctuations and reduction in global commodity prices are likely to reflect in Q4 numbers.
The BSE Sensex opened a shade higher at 28,889.27 and advanced to the day’s high of 28,907.81 in early trade on sustained foreign capital inflows.
On emergence of profit-booking it slipped into the red and touched a low of 28,756.75. It finally settled lower by 5.83 points or 0.02 per cent at 28,879.38.
However, the 50-share NSE Nifty managed to end in positive zone for the sixth consecutive day with a marginal rise of 2.05 points or 0.02 per cent at 8,780.35. Intra-day it moved in the range of 8,787.40 to 8,733.60.
Both the indices have ended in the green for the second-straight week.
Market Wrap Up by Alex Mathews, Head Research, Geojit BNP Paribas Financial Services
The markets slipped into negative zone after opening, investors were looking for triggers from both the global and domestic front ahead of the quarterly numbers.
Nifty is in a consolidation mode above 8717 (50 day moving average); and most probably it may give a break-out above 8900 in the days to come.
Nifty closed with at 8780 up around 2 points. The market breadth stood positive as there were seen 1636 stocks advancing against 1184 stocks declining. The Nifty volatility index, India VIX stood at 14.2550 down around 1.12%.
The mid-cap and small-cap sector were seen outperforming the boarder markets, ended up around 0.39% and 1.10% respectively.
The major sectorial losers for the day were Banking and Capital goods sector which ended down around 0.35% and 0.31% respectively. The gainers on the other end were Realty and Metal which ended up around 0.74% and 0.72% respectively.
In the stocks’ front, the major gainers were Idea and SSLT which closed up around 4.34% and 3.54% respectively whereas the losers were Cipla and Zee which closed down around 2.70% and 2.49% respectively.
The FIIs were buyers in the cash markets segment, bought shares worth Rs 193.81 crore on Thursday, 09 April 2015. On the other hand the DIIs were also net buyers on 09 April 2014, bought shares worth Rs 492.79 crore as per the provisional data from the stock exchanges.
The European markets were trading in green. But the US index futures were trading in red.
In the earnings corner, CIMMCO and Titagarh Wagons may announce their earnings on Monday.
The market was in an “over-bought” position following huge positions built up in the past few trading sessions even after the RBI kept key rates unchanged in its monetary policy and the rating agency Moody’s upgrading the country’s credit outlook to ‘positive’, brokers added.
Pharma stocks continued to fall for the second straight session with Cipla falling by most on the Sensex by 2.66 per cent, whereas Lupin shed 2.49 per cent.
Losses in other Sensex counters like HDFC Bank, Hindalco, HDFC, Hero MotoCorp, NTPC, ICICI Bank and Axis Bank also weighed on market sentiments. Overall, 14 shares fell.
Shares of Sesa Sterlite, SBI, Dr Reddy’s, Bharti Airtel, Infosys, RIL, Tata Power and BHEL, however, witnessed buying activity and finished in the green.
Sector-wise, the BSE banking index suffered the most by losing 0.35 per cent, followed by capital goods index by 0.31 per cent and healthcare at 0.19 per cent.
However, Small-cap index gained 1.10 per cent and mid-cap index rose 0.39 per cent, indicating continued buying by retail investors.
Globally, a mixed closing in the Asian region and European markets extending an all-time high in their opening trade, influenced trading sentiments here.
Foreign Portfolio Investors picked up shares worth Rs 193.81 crore and Domestic Institutional Investors bought shares worth Rs 492.79 crore yesterday, as per provisional data.
|A week ago||1.22||1.15||1.20|
|A month ago||1.28||1.19||1.24|
|A year ago||1.33||1.34||1.37|