Post Market Review - Sep 14 2010

After yesterday's heady rise, market continued their northward journey even in today's trade, albeit closed off the high of the day. Benchmark indices gave up half of the intraday gains to close higher by about two third of a percent. Sensex gained 138 points to close at 18346 while Nifty finished at 5796, up 36 points. Broader market however, was under pressure as depicted by BSE Mid-cap and Small-cap indices that lost 0.6% and 0.8% respectively. WPI inflation for the month of August based on new WPI series came in at 8.51% as compared to 9.78% for the previous months. The figure as per the old base year stood at 9.5%. European markets along with US stock indices futures were trading lower by about a fifth of a percent ahead of data on US retail sales.

BSE Consumer Durable and IT indices were the top gainers among the sectoral indices, up 1.6% and 1.4% respectively while Metal and Realty indices lost 0.5% and 0.4% respectively. Kotak Bank and Wipro surged 4.9% and 4% respectively, becoming the top gainers among the Nifty stocks while Hindalco and ACC lost the most, down 2.5% and 2.1% respectively. BSE advance-decline ratio stood at 1:2.