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Tuesday, December 24, 2013

Sensex snaps 2-day winning streak

Key benchmark indices edged lower, snapping their two-day winning streak. The barometer index, the S&P BSE Sensex, lost 68.32 points or 0.32%, up 22.06 points from the day`s low and off 124.21 points from the day`s high. The market breadth, indicating the overall health of the market, was positive.

The Sensex had garnered 392.41 points or 1.89% in two trading sessions to settle at 21,101.03 on Monday, 23 December 2013, from a recent low of 20,708.62 on 19 December 2013. The Sensex has risen 240.78 points or 1.16% in this month so far (till 24 December 2013). The Sensex has garnered 1,606 points or 8.27% in calendar 2013 so far (till 24 December 2013). From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,584 points or 20.54%. From a record high of 21,483.74 hit on 9 December 2013, the Sensex is off 288.82 points or 1.35%.

Coming back to today`s trade, metal and mining stocks edged lower. Shares of Sesa Sterlite dropped on reports Central Bureau of Investigation (CBI) has started a probe into possible irregularities in its stake buy in Hindustan Zinc. Most banking stocks edged lower. Index heavyweight and cigarette major ITC edged lower in volatile trade. Shares of biotechnology major, Biocon, scaled record high.

Bajaj Auto rose after three block deals were executed in the counter on BSE in early trade. Shares of Bosch, known for its technology prowess in the automotive market, hit record high. Larsen & Toubro and L&T Finance Holdings edged higher after L&T during market hours said it has completed the sale 1% stake in L&T Finance Holdings on Monday, 23 December 2013, to comply with the minimum public shareholding requirement. Shares of tyre major Apollo Tyres hit 52-week high. Realty stocks extended their recent gains triggered by ICICI Bank, State Bank of India and HDFC cutting interest rates on home loans last week. Shares of state-run oil marketing companies (PSU OMCs) extended Monday`s gains triggered by hike in petrol and diesel prices.

The market may remain volatile on Thursday, 26 December 2013, as traders roll over positions in the futures & options (F&O) segment from the near month December 2013 series to January 2014 series. The near month December 2013 derivatives contracts expire on Thursday, 26 December 2013. The stock market remains closed tomorrow, 25 December 2013, on account of Christmas.

The S&P BSE Sensex lost 68.32 points or 0.32% to settle at 21,032.71, its lowest closing level since 19 December 2013. The index fell 90.38 points at the day`s low of 21,010.65 in late trade. The index rose 55.89 points at the day`s high of 21,156.92 in early trade.

The CNX Nifty shed 16.10 points or 0.26% to settle at 6,268.40, its lowest closing level since 19 December 2013. The index hit a low of 6,262 in intraday trade. The index hit a high of 6,301.50 in intraday trade.

The total turnover on BSE amounted to Rs 2036 crore, lower than Rs 2044.15 crore on Monday, 23 December 2013.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,424 shares gained and 1,043 shares fell. A total of 169 shares were unchanged.

The BSE Mid-Cap rose 0.53% and the BSE Small-Cap index gained 1.04%. Both these indices outperformed the Sensex.

The S&P BSE Capital Goods index (up 0.66%), the S&P BSE Consumer Durables index (up 0.38%), the S&P BSE Realty index (up 0.08%), the S&P BSE Healthcare index (up 0.07%), the S&P BSE IT index (down 0.02%), the S&P BSE Auto index (down 0.08%), the S&P BSE Teck index (down 0.08%), the S&P BSE FMCG index (down 0.17%), the S&P BSE Power index (down 0.22%) and the S&P BSE Oil & Gas index (down 0.23%) outperformed the BSE Sensex. The S&P BSE PSU index was unchanged.

The S&P BSE Bankex (down 0.43%) and S&P BSE Metal index (down 1.09%) underperformed the BSE Sensex.

Among the 30-share Sensex pack, 20 stocks declined and rest of them rose.

Index heavyweight and cigarette major ITC fell 0.22% to Rs 318.50 in volatile trade. The stock hit a high of Rs 320 and low of Rs 317.70.