Post Session Market Commentary

Market opened on positive note but instantly slipped in negative territory as heavy selling pressure was seen in metal stocks (expensive Tata - Corus deals) while market got some relief during mid session to recover some losses on back of RBI credit policy but it did not support market for long time as participants were in profit booking mood. As a result BSE sensex closed at 14090.92 down by 121.04 points and Nifty was down by 41.75 points to close at 4082.70. BSE mid cap was down by 55.76 points to close at 6045.10 and BSE small cap was down by 73.01 points to close at 7503.50.

Overall market breadth was significantly negative as 896 stocks advanced and 1662 stocks declined on BSE. BSE sectoral indices closed lower.

Among the BSE indices, BSE Metals index was top loser with 476.44 points or 4.88% down to close at 9283.17 as Tata Steel (11.03%), SAIL (4.25%) and Hindalco (3.31%) ended lower.

Followed by capital goods index that was down by 134.78 points to close at 94850.79 as siemens (0.12%) and L&T (1.36%) closed lower while BHEL (0.24%) and ABB (0.24%) ended in green.

BSE bank index was 32.69 points down to close at 7260.09 as HDFC bank (1.19%)and PNB (0.37%) closed in green while ICICI Bank (1.98%), OBC (2.36%) and SBI (1.62%) ended lower.

BSE FMCG index declined 8.23 points to close at 1906.21 as ITC up by (1.63%) while HLL (3.47%) and Dabur (3.14%) closed lower.

BSE oil & gas index was 85.66 points down to close at 6631.02 as IPCL (2.98%), ONGC (1.46%), Reliance (1.46%), GAIL (1.39%) and BPCL (1.02%) ended lower.

BSE auto index was 46.31 points down to close at 5515.36 as M&M (2.74%) Tata Motors (2.27%), Maruti Udyog (0.98%) ended in red.

BSE health cares index declined 12.36 points to close at 3813.17 as Dr Reddy labs (1.44%) and Cipla (0.99%) closed lower while Ranbaxy Labs (1.49%) and Glaxo SmithKline (0.16%) ended in green.

BSE IT index was 18.40 points down to close at 5,297.17 as, HCL tech, Wipro, TCS and Infosys plunged.