Range-Bound Markets End With A Negative Bias
Suparna / 02 Jul 2013
The Indian markets saw range-bound trade until mid-session today. However, Nifty did not manage to hold its gains and ended on a negative note, down by 40 points to 5857. Sensex closed at 19,460, down by 113 points.
The Indian markets saw range-bound trade until mid-session today. However, Nifty did not manage to hold its gains and ended on a negative note, down by 40 points to 5857. Sensex closed at 19,460, down by 113 points. Both the indices ended in red by 0.70% and 0.58% respectively.
The advance–decline ratio was balanced on both sides. On the NSE, 1633 shares closed in green, while 1671 shares ended the day in red.
Top 5 Nifty Gainers: Lupin closed the day with gains of 3.33% as the top Nifty gainer, followed by BHEL, IDFC, Sesa Goa and Cairn India.
Top 5 Nifty Losers: DLF ended the day as the top Nifty loser, down by 2.6%, followed by Jindal Steel, Reliance Infra, Coal India and Tata Power.
In the sectoral pack, 11 out of the 13 sectors ended on a negative note. Bankex lost 104 points, Oil & Gas lost 90 points and Auto lost 83 points. Capital Goods and Metals were down by 56 points and 38 points respectively. Mid-Caps and Small-Caps also closed on a negative note.
The Asian markets closed on a mixed note. Nikkei closed up by 246 points. However, Hang Seng market closed on a negative note, down by 144 points. Shanghai Composite, Straits Times, and Taiwan ended on a mixed note.
Buzzers: Ranbaxy Labs rebounded in the second half of the day, rising by 9% after the USFDA told that there is no proof of data reliability issues from anywhere other than at the 3 units at Paonta Sahib, Batamandi & Dewas.
The Reserve Bank of India (RBI) regularly monitors the currency market, but it was unusual for the RBI to state so explicitly that banks should cut their intraday net open position limits - or their outstanding positions in the futures and forwards markets.
Nifty consolidated between 5850-5890. If the index cross 5900, it may see an up-move after tomorrow’s opening.
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