Daily Market Review - Aug 31 2010

Thanks to a sharp rebound in last half an hour, benchmark indices recovered nearly a percent from the lowest point of the day to end with modest losses. Sensex closed at 17944, down 88 points while Nifty finished at 5402, down 13 points. BSE Mid-cap and Small-cap indices lost 0.6% and 0.9% respectively. GDP for the April-June quarter showed a growth of 8.8% as against 8.6% in the previous quarter. European markets were trading down about a percent while US stock indices futures were lower by nearly a third of a percent ahead of data on Chicago Purchasing Managers Index and Consumer confidence.



BSE Consumer Durable and Oil & Gas indices were the top losers among the sectoral indices, shedding 2.2% and 2.1% respectively while FMCG and Auto indices gained 1.6% and 1% respectively. M & M and Ambuja Cement were the top gainers among the Nifty stocks, putting on 3.1% and 2.7% respectively while JP Associate and R Com lost the most, down 3.6% and 3.5% respectively. BSE advance-decline ratio stood at 1:2.2.