Indian equities settled flat on Monday with negative bias. Banking, FMCG and technology witnessed a fall. However, realty gained the most followed by metal and power.
Markets opened on a flat note and remained rangebound for rest of the trading day. After rallying for three consecutive trading days, market witnessed some profit-booking in today's session. European indices were mixed and Dow futures indicated some strength which supported the overall market sentiment.
At the close, the benchmark 30-share index, BSE Sensex declined 34.58 points or 0.18% at 19,305.32 with 17 components posting drop. Meanwhile, the broad based NSE Nifty fell by 8.90 points or 0.15% at 5,870.95 with 27 components registering drop.
Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, ''Nifty has strong resistance near 5,800-5,850 level, which it had broken in last trading session. And consecutively for two trading sessions, it is closing above this level. However, still 5,850-5,950 is another resistance zone which requires some greater momentum to push the index above it. Buying is being witnessed in almost all sectors which is positive for coming sessions. However, economic data like Manufacturing data, inflation and IIP data in next week, and probability for rate cuts in December shall have near term impact on the market sentiment and thus caution be maintained for long positions.
In the coming sessions, market is likely to see consolidation in upper range of 5,950-5,800 level. Above 5,890, likely upward targets are 5,950-6,000. Support may be seen from 5,825-5,775 levels and resistance near 5,890-5,925.''
HDFC Bank contributed fall of 36.77 points in the Sensex. It was followed by ITC (13.63 points), Housing Development Finance Corporation (10.13 points), Bharti Airtel (8.79 points) and Oil & Natural Gas Corporation (5.86 points).
However, Reliance Industries contributed rise of 20.85 points in the Sensex. It was followed by State Bank Of India (10.56 points), Mahindra & Mahindra (6.21 points), I C I C I Bank (4.82 points) and ACC (4.77 points).
Major gainers in the 30-share index were Bharat Heavy Electricals (1.59%), State Bank Of India (1.53%), Tata Steel (1.36%), Reliance Industries (1.23%), Mahindra & Mahindra (1.15%), and Hindalco Industries (1.07%).
On the other hand, HDFC Bank (2.37%), Bharti Airtel (1.76%), G A I L (India) (1.06%), NTPC (0.89%), Oil & Natural Gas Corporation (0.89%), and Tata Motors (0.80%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 1.21% and 0.86% respectively.
The major gainers in the BSE Midcap were Aban Offshore (3.02%), Allahabad Bank (2.37%), Anant Raj Industries (2.17%), Amtek Auto (2.04%) and Amara Raja Batteries (0.98%).
The major gainers in the BSE Smallcap were A2Z Maintenance & Engineering Services (9.03%), Adhunik Metaliks (6.19%), Trident (0.75%), Aarti Industries (0.7%) and Action Construction Equipment (0.6%).
Sectors in Limelight
The Realty index was at 2,025.30, up by 26.94 points or by 1.35%. The major gainers were D B Realty (5.41%), Indiabulls Real Estate (3.28%), Godrej Properties (2.18%), Anant Raj Industries (2.17%) and D L F (0.26%).
The Metal index was at 10,437.89, up by 82.70 points or by 0.80%. The major gainers were Hindustan Zinc (1.83%), Bhushan Steel (1.51%), Hindalco Industries (1.07%), Jindal Steel & Power (0.77%) and Coal India (0.05%).
The Power index was at 1,993.22, up by 12.89 points or by 0.65%. The major gainers were Adani Power (2.84%), Bharat Heavy Electricals (1.59%), Crompton Greaves (0.83%), A B B (0.74%) and Reliance Infrastructure (0.69%).
Market breadth was positive with 1,705 advances against 1,290 declines.
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover of Rs. 1,046.69 million. It was followed by Pantaloon Retail (India) (Rs. 826.88 million), Jet Airways (India) (Rs. 771.18 million) and State Bank Of India (Rs. 727.05 million).
The volume chart was led by Cals Refineries with trades of over 11.28 million shares. It was followed by Suzlon Energy (10.20 million), Unitech (7.08 million) and Spicejet (6.98 million).