Post Market Commentary

The market started the day on a cheerful note as the market participants got the positive result from the Fed Meeting yesterday. In the meeting, the US Federal reserve decided to reduce federal funds rate by 25bps to 4.5% & the discount rate by a quarter-point to 5%. However, the market could not sustain its gain and started falling on the back of profit booking by the investors in the later stages. The market even went to negative territory and exhibited volatility in the mid session. Later it recovered a bit and gained 100-130 points buy finally ended in red territory amid an extremely volatile session. All the indices ended in red except Bankex, Capital goods, & PSU. After a long interval, BSE Metal entered in red territory and closed with losses. The benchmark index Sensex ended up with the loss of 113.64 points at 19,724.35, whereas Nifty also closed with a loss of 34.20 points to close at 5,866.45. Further, BSE Midcap and BSE Smallcap also closed lower by 168.67 points and 150.25 points at 7,966.54 & 9,646.61 respectively. The market breadth stood negative with 944 stocks on the advancing side and 1817 stocks on the decline side & 54 unchanged.

BSE Capital goods closed in green with the highest gain of 345.87 points at 20,141.19. Pulled it up are Alfa Laval up by (4.41%), Larsen & Toubro (4.29%), Crompton Greaves (1.95%), BHEL (1.83%) and Jyoti Structure (1.20%).

BSE Bankex also managed to gain 196.36 points to close at 10,851.69. Scrips gained are Bank Of India (5.54%), ICICI Bank (3.33%), Oriental Bank (2.54%), & Bank of Baroda (2.22%).

BSE Realty stood as the top loser of the day with a loss of 311.26 points at 10,191.51. Scrips declined mainly are Indiabulls Realty by (6.29%), Akruti Nirman (3.80%), Omaxe Ltd (3.78%), and Unitech Ltd (3.53%).

BSE Metal also stood as the loser with a loss of 302.39 points to close at 17,582.54. Scrips plunged are, Hindalco down by (4.28%), Sh. Precoated (4.14%), NALCO (4.08%) & Hindustan Zinc (3.34%).