Daily Market Review - Jan 5 2011

Markets consolidated for yet another day as benchmark indices closed with modest losses after a choppy trade. Sensex lost 62 points to close at 20499 while Nifty finished at 6146, down 11 points. BSE mid-cap and small-cap indices lost 0.3% and 0.04% respectively. High beta sectors viz. Banking and Realty were under pressure while defensive FMCG stocks had a good run. Suzlon gained nearly 3% on the back of rumors that Spain’s Gamesa is picking up a majority stake in the company. FTSE, which opened today for the first trading session of 2011, was trading with gains of more than 2% while other European markets were up by about half a percent. US stock indices futures were higher by about a third of a percent ahead of data on factory orders and release of minutes of latest FOMC meeting.

BSE Bankex and Realty were the top losers among the sectoral indices, shedding 2.5% and 1.1% respectively while FMCG and Oil & Gas indices gained the most, up 1.7% and 1.3% respectively. Suzlon and HCL Tech were the top gainers among the Nifty stocks, putting on 2.9% and 2.1% respectively while ICICI Bank and SBI plunged 3.3% and 3.2% respectively, becoming the top losers. BSE advance-decline ratio stood at 0.96:1.