The Indian equity market once again ended unchanged on Monday. After opening with a positive gap, benchmark indices came under pressure and erased early gains after the Mid-Cap and the Small-Cap stocks witnessed a sudden sell off. Stocks in the broader indices nose-dived on speculation that the pledged shares of some companies were being offloaded.
The National Stock Exchange and the Bombay Stock Exchange also clarified that there is no systemic issue behind the midcap stocks crash.
NBFC stocks fared well in the day’s trade on the bourses after RBI issued guidelines for granting bank licenses on Friday. Stock of L&T finance Holdings was up 4.9%, Birla Capital and Financial Services was up by 2.6%, SREI Infrastructure Finance Ltd. was up 4.4%.
The IT stocks were the top performers, the index gained ~2%. Infosys gained by 3%, TCS gained 1.7% and Wipro added 0.4%. Among the other top gainers was, BSE Teck, and BSE Auto index gaining 1.3% and 0.8% respectively,
On the other hand, BSE realty index was the top loser, down 2.4% followed by BSE Capital Goods and Metal index losing by 16% and 1% respectively.
Finally, BSE Sensex closed at 19331, up 14 points over the previous close. It had earlier touched a day's high of 19411 and a day's low of 19237. It opened at 19365.
The NSE Nifty closed at 5,854, up 4 points over the previous close. It earlier touched a day’s high of 5,878 and a day’s low of 5825. It opened at 5,870.
Infosys, Wipro, TCS, ICICI Bank, Bajaj Auto, Sun Pharma, Maruti Suzuki, SBI, Tata Motors, BHEL, HDFC, Mahindra & Mahindra were among gainers in Sensex and Nifty.
RIL, Bharti Airtel, ONGC, Hero MotoCorp, Dr Reddys Lab, Coal India, HUL, ITC, Cipla, Tata Steel, NTPC, Hindalco Inds were among losers in Sensex and Nifty.
The advance decline ratio was in favour of the bears. 1252 stocks declined against 895 advancing stocks. While 797 stocks remained unchanged.
The INDIA VIX was down 0.29% at 16.74. It hit a day’s high of 17.33 and day's low of 16.63.
Stocks which hit 52-week high during the week were Finolex Inds, Malabar Trad, Blue Blend India, Hind Syntex, SHRSHA TEX.
Stocks which hit 52 week low during the week were Crompton Greav, SAIL, GTL, Himadri Chem, Hindustan Oil.
Stock in news
Shares of Tata Motors gained 2% after reports came out that auto major is working on a family of low-cost composite cars that is expected to complement the Nano, the automaker's ultra-low-cost car.
Ranbaxy laboratory shot up by 5% after the company said that it would resume the production of generic cholesterol control drug Atorvastatin-a generic version of Pfizer’s Lipitor. Lipitor for sale in the United States after resolving the issues that led to a November recall.
Claris Lifesciences was down 5.4% after the company reported 27.2% decline in its consolidated net profit at Rs 0.25bn for the fourth quarter ended December 31, 2012.
Orient Green Power surged higher by 9% after the Chennai-based Group announced plans to infuse about Rs 3bn in Orient Green Power.
Persistent Systems gained 2.5% after the company declared in an exchange filing that it entered into a strategic agreement with HP to licence its HP Client Automation (HPCA) software.
Most of the Asian markets ended with gains on Monday. The Nikkei index in Japan surged higher, the index gained by 2.5% as reports stated that Asian Development Bank chief Haruhiko Kuroda could be the country’s next central bank spurred buyers.
The Hang Seng index in Hong Kong gained 0.2%, the Shanghai Composite index in China gained by 0.5% and the Straits Times added 0.2%. On the other hand, Kospi index declined by 0.5% and the Taiwan index declined by 0.5%.
The European markets were trading with smart gains on Monday the FTSE index in UK was up 0.7%, the DAX index in Germany is trading higher by 1% and the CAC index in France was up by 0.53%.