Indian equities ended on a flat note on Monday led by gains seen in auto, FMCG, and realty stocks. However, consumer durables, capital goods and healthcare stocks traded lower.
At the close, the benchmark 30-share index, BSE Sensex added 29.63 points or 0.16% at 18,339 with 13 components posting rise. while the broad based NSE Nifty closed flat with a decline of 2.65 points or 0.05%, at 5,571.40.30 components posting drop.
It was a choppy session as indecision continued on the bourses. Some recovery was seen in the closing session. European indices were mixed while Asian markets were positive. Despite the recovery, market breadth was highly negative and volumes were lower than last trading day.
Commenting on the outlook, Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, ''Any good news from global markets or within the country regarding economic recovery may aid the market for further recovery. Caution is advised for long positions and profits may be booked in rallies. In the coming sessions, market is likely to see further selling below 5,550 level. Support may be seen from 5,500-5,445 levels and recovery is likely only above 5,580 levels. Investors shall be looking for global cues and other post-reforms actions within the country for further market direction.''
''Later in the week attention will shift to the Winter Session of Parliament which begins on November 22. Finance Minister P Chidambaram has already announced that Amendments to General Anti-Avoidance Rules (GAAR) have been finalized. Technically, Nifty closed below the support of 5,630 indicating some weakness in coming days,'' said Amar Ambani, head of research, IIFL.
ITC contributed rise of 48.05 points in the Sensex. It was followed by Bharti Airtel (13.62 points), H D F C Bank (12.37 points), Infosys (10.39 points) and Maruti Suzuki India (9.51 points).
However, Housing Development Finance Corporation contributed fall of 17.23 points in the Sensex. It was followed by Tata Consultancy Services (16.95 points), Larsen & Toubro (12.55 points), Hindustan Unilever (5.35 points) and Tata Power Company (4.9 points).
Biggest gainers in the 30-share index were Maruti Suzuki India (3.87%), Bharti Airtel (2.89%), I T C (2.70%), Bajaj Auto (2.23%), Mahindra & Mahindra (1.60%), and Hero Motocorp (1.37%).
On the other hand, Tata Power Company (2.52%), Tata Consultancy Services (1.90%), Tata Steel (1.61%), Dr Reddy'S Laboratories (1.27%), Housing Development Finance Corporation (1.23%), and Larsen & Toubro (1.22%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small-caps underperformed their larger counterparts declining 0.89% and 0.85% respectively.
The major losers in the BSE Midcap were A I A Engineering (4.12%), Aban Offshore (1.6%), Alstom India (1.15%), CORE Education and Technologies (0.52%) and A B G Shipyard (0.09%).
The major losers in the BSE Smallcap were Trident (2.34%), Action Construction Equipment (1.66%), A2Z Maintenance & Engineering Services (0.84%), Aarti Industries (0.39%) and Aanjaneya Lifecare (0.18%).
Sectors in Limelight
The IPO index was at 1,763.19, down by 67.65 points or by 3.7%. The major losers were Claris Lifesciences (8.49%), Acropetal Technologies (4.09%), C.Mahendra Exports (0.96%), A2Z Maintenance & Engineering Services (0.84%) and Aanjaneya Lifecare (0.18%).
The Consumer Durables index was at 7,380.52, down by 85.31 points or by 1.14%. The major losers were Blue Star (2.6%), Titan Industries (1.84%), C.Mahendra Exports (0.96%), Rajesh Exports (0.61%) and Bajaj Electricals (0.15%).
The Capital Goods index was at 10,546.93, down by 88.4 points or by 0.83%. The major losers were A I A Engineering (4.12%), Alstom India (1.15%), BEML (0.33%), Bharat Heavy Electricals (0.28%) and A B B (0.1%).
On the other hand, the Auto index was at 10,508.02, up by 107.81 points or by 1.04%. The major gainers were Maruti Suzuki India (3.87%), Bajaj Auto (2.23%), Mahindra & Mahindra (1.6%), Hero Motocorp (1.37%) and Exide Industries (0.18%).
Market breadth was negative with 1,094 advances against 1,799 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 1,231.38 million. It was followed by State Bank Of India (Rs. 712.98 million), L&T Finance Holdings (Rs. 664.46 million) and Tata Coffee (Rs. 581.93 million).
The volume chart was led by L&T Finance Holdings with trades of over 8.79 million shares. It was followed by Sujana Universal Industries (6.59 million), Dhanus Technologies (4.20 million) and TV18 Broadcast (3.46 million).