Sensex ends in red after 3 trading sessions

The Indian markets closed negative today, October 5, first time after three trading sessions, erasing earlier gains. The Sensex ended the range bound session on a sluggish note amid volatility. FMCG, metal and banking stocks dipped, while consumer durable, power and auto moved up.



After a flat to negative opening, the index traded in a lackluster manner the entire day hovering in and out of the red zone. Choppiness was seen during the day to finally close with a loss of 68 points after touching a low of 20,383.16.

At the close, the benchmark 30-share index, BSE Sensex declined 68.02 points or 0.33% at 20,407.71 with 18 components registering drop. Meanwhile, the broad based NSE Nifty went down by 13.65 points or 0.22% at 6,145.80 with 29 components registering drop.

The Bank of Japan (BOJ) policy board today unanimously voted to cut its key overnight call rate range to between zero and 0.1%, from 0.1% previously. BOJ surprised the world markets and economists with the aforesaid move which is aimed at proping up a struggling economy and curtail gains in the yen.

The Japanese central bank also pledged to maintain its easy monetary policy until prices stabilize. The BOJ said it would set up a fund to buy Japanese government bonds, corporate debt, exchange-traded funds and other funds.

On global front, Asian stocks rose, reversing declines in the MSCI Asia Pacific Index after Japan cut its benchmark interest rate and Australia unexpectedly kept its rate unchanged for the fifth straight month.

European stocks were little changed as Moody`s Investors Service said it may cut Ireland`s credit rating, offsetting better-than-estimated profit at Tesco. US futures fluctuated.

Sensex Movers

Housing Development Finance Corporation contributed fall of 29.53 points in the Sensex. It was followed by H D F C Bank (21.19 points), I C I C I Bank (14.69 points), I T C (11.15 points) and Bharti Airtel (10.07 points).

However, Reliance Industries contributed rise of 12.13 points in the Sensex. It was followed by Mahindra & Mahindra (8.99 points), Bharat Heavy Electricals (6.67 points), Reliance Infrastructure (6.2 points) and Reliance Communications (5 points).

Major gainers in the 30-share index were Reliance Communications (3.22%), Reliance Energy (3.07%), Mahindra & Mahindra (2.28%), Jaiprakash Associates (2.17%), ACC (1.73%), and Maruti Suzuki India (1.51%).

On the other hand, Housing Development Finance Corporation (2.38%), H D F C Bank (1.80%), Hindustan Unilever (1.72%), Bharti Airtel (1.63%), Hindalco Industries (1.36%), and I T C (0.91%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts gaining 0.78% and 1.14% respectively.

The major gainers in the BSE Midcap were Aban Offshore (4.15%), A I A Engineering (1.23%), Apollo Hospitals Enterprise (0.48%), Anant Raj Industries (0.31%) and Ackruti City (0.21%).

The major gainers in the BSE Smallcap were Aarti Industries (12.6%), A B G Shipyard (5.56%), A B G Infralogistics (2.41%), Provogue (India) (1.74%) and Abhishek Industries (0.57%).

Sectors in Limelight

The Consumer Durables index was at 6,590.21, up by 60.79 points or by 0.93%. The major gainers were Bajaj Electricals (5.52%), V I P Industries (3.69%), Rajesh Exports (3.66%), Videocon Industries (2.25%) and Whirlpool Of India (1.41%).

The Power index was at 3,336.44, up by 28.63 points or by 0.87%. The major gainers were Reliance Infrastructure (3.07%), Adani Power (2.89%), GVK Power & Infrastructure (2.13%), Bharat Heavy Electricals (1.18%) and G M R Infrastructure (0.96%).

The IPO index was at 2,257.54, up by 19.08 points or by 0.85%. The major gainers were Adani Power (2.89%), Bajaj Corp (1.88%), D B Realty (1.24%), D B Corp (0.94%) and Aster Silicates (0.1%).

On the other hand, the FMCG index was at 3,675.30, down by 41.55 points or by 1.12%. The major losers were United Spirits (2.33%), Hindustan Unilever (1.72%), Dabur India (1.54%), Colgate-Palmolive (India) (1.41%) and I T C (0.91%).

Market Breadth

Market breadth was positive with 1,715 advances against 1,327 declines.

Value and Volume Toppers

Timken India topped the value chart on the BSE with a turnover of Rs. 8,647.26 million. It was followed by Reliance MediaWorks (Rs. 2,377.19 million), Orchid Chemicals & Pharmaceuticals (Rs. 1,971.03 million) and Microsec Financial Services (Rs. 1,880.95 million).

The volume chart was led by Karuturi Global with trades of over 53.44 million shares. It was followed by Timken India (51.92 million), FCS Software Solutions (49.02 million) and Microsec Financial Services (16.96 million).