Bears Push Nifty Down

The bears pushed the key benchmark indices to their lowest closing of the week. The IIP number for the month of Nov 2012 disappointed at -0.1%. The Nifty touched an intraday low of 5940 post the afternoon session. Nifty closed down by 17 points at 5951 and Sensex was flat at 19663.

The advance-decline ratio, which indicates the health of market, ended on the negative side. On the NSE, 322 shares ended in green and 1125 shares ended in red.

Top 5 NSE Gainers: Infosys closed with gains of 16.89% stood as top the gainer, followed by Wipro, Tata Consultancy, Sesa Goa and Lupin.

Top 5 NSE Losers: Hindustan Unilever ended day as the top loser, trading lower by 3.85%. Kotak Mahindra Bank, Jindal Steel and Power, Jaiprakash Associates and ONGC are the others in the list.

Only 2 of 13 the sectoral indices ended on a positive note. IT and TECk ended with outstanding gains in the range of 6.62%-9.38%. FMGC and Realty remained under pressure and ended the day on the negative side. Both the sectors were down by 2.29%-2.77%.

The European markets are trading in the red. CAX 40 is down by 0.46%, DAX has dropped 0.09% and FTSE 100 is trading lower by 0.05%.

Most of the Asian peers ended the day on the lower side. Shanghai Composite ended down by 1.81%, KOSPI was down by 0.51% and Hang Seng lost 0.39%. Nikkei225 ended the day up by 1.38% and Taiwan Weighted was up by 0.10%.

Buzzers: Bajaj Corp has hit a record high after strong Q3 results. The company’s board has recommended an interim dividend of Rs 6.50 per share for the year ending March 2013. The stock closed up by 4.21% at Rs 255.15.

Ansal Housing touched an intraday high of Rs 65 and a low of Rs 54.50, finally closing up by 11.60% at Rs 61.10. The stock has witnessed a spike in volumes. Its 5-days’ average volumes were at 13944 and the volumes stand at 309699 today, a jump of more than 2000%.

Support for the Nifty stands at 5920 and 5880.