Market Review - Aug 13 2010

Benchmark indices, after surging nearly a percent in the first half, gave away half of the gains to close higher by about half a percent on the last trading day of the week. Sensex gained 93 points to close at 18167 while Nifty settled at 5452, up 35 points. BSE Mid-cap and Small-cap indices gained 1% and 0.7% respectively. Cairn surged 4.3% while Sterlite Industries plunged by the same quantum on the back of reports that the Vedanta Resources is likely to pick up 51% stake in Cairn India. Patni galloped 8.4% after the announcement of a special dividend of `. 63 per share and the buzz that the stake sake is soon to follow. On weekly basis, Sensex and Nifty are up 0.1% and 0.2% respectively. Realty index surged 6.6% week-on-week, becoming the top gainer among the sectoral indices followed by Consumer Durable index, up 4.4%. IT and Teck indices were down the most, shedding 2.2% and 1.7%. European markets, after opening in the green, slipped in the negative territory and were trading around half a percent lower. US stock indices futures too were down about half a percent ahead of retail sales and inflation data.





BSE Realty and Consumer Durable indices were the top gainers for the day, putting on 2.3% and 1.9% respectively while Metal index was the sole loser, down 0.2%. Cairn India and Kotak Bank gained the most among the Nifty stocks, putting on 4% and 3.6% respectively while Sterlite Industries and R Com lost the most, down 3.9% and 3.2% respectively. BSE advance-decline ratio stood at 1.1:1.