Market fails to surpass 20,000

The market went into a correction mode quickly after the opening bell, but recovered despite weak global cues. The market witnessed the pre-Fed rate cut rally today. The Sensex slipped below the 19,750 mark in early trades before a bout of buying support saw it rebound almost to touch the 20,000 mark by afternoon trades. However, sustained selling in information technology, capital goods, and FMGG stocks saw the index slide sharply and slip into the red again. The Sensex remained volatile thereafter but with a positive bias. The index finally wrapped up the session at 19,838, up 54 points, while the Nifty added 32 points and closed at 5,901.

The market breadth was positive. Of the 2,817 stocks traded on the Bombay Stock Exchange (BSE), 1,403 stocks advanced, 1,349 stocks declined and 65 stocks ended unchanged. The sectoral indices were largely positive. Among the sectoral indices the Metal led the upsurge with gains of 3.37% at 17,885 followed by the BSE Bankex index (up 1% at 10,703) and the BSE Oil & Gas index (up 1.15% at 11,658). However, the BSE CG index, the BSE FMCG index, the BSE IT index, the BSE Realty index, and the BSE Teck index closed in a negative territory.

Reliance energy was the leading gainer and soared 4.34% at Rs1,867. Ranbaxy advanced 2.94% at Rs427, NTPC moved up by 2.33% at Rs239, ONGC jumped 2.32% at Rs1,248, HDFC Bank shot up by 2.15% at Rs1,653, M&M added 1.90% at Rs755 and Hindalco was up 1.50% at Rs196. Among the laggards, HLL dropped 5.21% at Rs208, L&T shed 1.81% at Rs4,245, BHEL declined by 1.55% at Rs1,613 and Maruti Suzuki lost 1.32% at Rs1,074.

Over 2.82 crore Reliance Natural Resources shares changed hands on the BSE followed by Tata Teleservices (2.78 crore shares), Reliance Petroleum (2.31 crore shares), Nagrjuna Fertilisers (1.20 crore shares) and Power Grid Corporation (1.17 crore shares).

Reliance Industries registered a turnover of Rs648 crore on the BSE followed by Reliance Energy (Rs352 crore), Reliance Communication (Rs221 crore), Tata Consultancy Services (Rs168 crore) and Hindustan Lever Ltd (Rs147 crore).