The Indian equity market failed to build on Tuesday’s winning ways as selling pressure in Power, Metals, Capital Goods, Realty and FMCG stocks wiped out almost all intra-day gains. The mid-cap and the small-cap stocks too witnessed offloading.
On the other hand, with the Nasscom meet underway, the BSE IT index was the top performer, HCL Technologies surged 4.3%, Infosys gained 1%, Satyam Computer was up by 1%. TCS rose by 1.6%.
Among the other gainers were, Telecom and the Auto stocks.
Finally, BSE Sensex closed at 19608, up 47 points over the previous close. It had earlier touched a day's high of 19723 and a day's low of 19574. It opened at 19601.
The NSE Nifty ended at 5,933, up 10 points over the previous close. It earlier touched a day’s high of 5,969 and a day’s low of 5922. It opened at 5,943.
Technically, Nifty faced stiff resistance at the 50 DMA which was placed at 5960 mark.
RIL, Infosys, TCS, SBI, ICICI Bank, NTPC, Bharti Airtel, Sun Pharma and ONGC, Mahindra & Mahindra were among gainers in Sensex and Nifty.
Wipro, BHEL, Coal India, HUL, Bajaj Auto, Maruti Suzuki, Tata Power, L&T, Tata Steel, Dr Reddys Lab and Hindalco Inds were among losers in Sensex and Nifty.
The advance decline ratio was in favour of the bears on the BSE. 1205 stocks declined against 874 advancing stocks. Only 894 stocks remained unchanged.
The INDIA VIX on NSE was down 1% to end at 15.14. It hit a day’s high of 15.31 and day's low of 14.47.
Stocks which hit 52-week high during the week were Shree Krish Pap, Bombay Cycle, Malabar Trad, Out of City Travel and Rutron Intl.
Stocks which hit 52 week low during the week were Century Extr, EID Parry, Ester Inds, FGP and Foseco India.
Stocks in News
Tata Motors gained by 2.2% to close at Rs305 on Wednesday. The manufacturer of Luxury sports saloons and sports cars reported an increase of 32% in global sales for January at 34,877 units. January sales went up across major markets with 46% in 24% in North America, 74% increase in China, Asia Pacific, 33 % in the UK, and 10% up in Europe reported JLR. . It touched a high of Rs.312 and a low of Rs. 307. Total traded quantity at the counter stood at 2.31lakh. Sales of the Land Rover brand were up 31%, at 29,118 vehicles. Land Rover sales clocked record sales for the month of January in all major geographies and markets including including the UK, USA and Germany, reports said. Sales for the Jaguar brand in the month of January stood at 5,759 vehicles up almost 40%, sales were up 70 & for XJ model of Jaguar brand, 37% up in XF –the company reported that Jaguar sales increased in all major markets.
Opto Circuits charged up 2.5% after the medical equipment and interventional devices manufacturer declared the results for the December 2012 quarter. The Group has posted a net profit of Rs. 1.13bn for the quarter ended December 31, 2012 as compared to Rs. 1.25bn for the corresponding quarter last year, down by 9.4%. Total Income has increased from Rs. 6.07bn for the quarter ended December 31, 2011 to Rs. 6.23bn for the quarter ended December 31, 2012.
Motherson Sumi surged by 6% after the Board approved QIP of up to 4.41 crore shares. Boards okayed preferential issue of up to 1.47 crore shares to promoters. The stock ended at Rs202.
Asian markets were up on Wednesday, with Sydney hitting a near three-year high. The ASX 200 index in Australia jumped 1%, or 44.7 points, to 5,003.7 closing above the 5,000-point mark for the first time since April 2010. The Nikkei index in Japan ended lower by 1%.
The Hong Kong, Shanghai and Taipei were closed for public holidays.
US stocks were up as Dow rose 0.34% to its best close since October 2007, while the S&P 500 added 0.16% to also reach a fresh 5-year peak. The Nasdaq slipped 0.17%.
Oil prices edged higher, with New York's main contract, light sweet crude for delivery in March up eight cents to $97.59 a barrel.