Markets close flat; oil & gas, pvt banks dip, FMCG, power up
27 Jul 2009
The benchmark indices ended the first day of the week on a flat note after seeing consolidation throughout the session. On the one side, FMCG, realty, power, metal and select telecom stocks witnessed buying interest while on the other side, oil & gas, private banking and select auto stocks were under pressure.
The broader indices outperformed the benchmark indices; both BSE Midcap and Smallcap indices went up 1.4% each. The market breadth was positive; about 1,746 shares advanced while 1,034 shares declined on the BSE. Nearly 388 shares remained unchanged.
The 30-share BSE Sensex witnessed a swing of 234.63 points between an intraday high of 15,463.09 and low of 15,228.46, before closing at 15,375.04, down just 3.92 points. The 50-share NSE Nifty shut shop at 4572.30, up 3.75 points, after seeing a swing of 68.25 points between day's high/low of 4596.75 and 4528.50, respectively.
Selling in oil & gas space due to disappointing Q1 numbers from the Reliance Industries capped the gains of the benchmark indices. Respective Index fell 3.09%, as heavyweight Reliance slipped 3.7% and Reliance Petroleum down 4.02%. GAIL and ONGC were down 2.8-3.6%. HPCL lost 1.50% and IOC down 0.67%.
There was a two-way move in banking and auto segments; Bank of India lost 4.30%, as its Q1 numbers were below the markets' expectations. Bank of Baroda declined 3.57%, as its bottomline was good but the sales were below the estimates.
ICICI Bank and HDFC Bank lost 1.2% each. However, Kotak Mahindra and Axis Bank surged 5% each. PNB and SBI were up 1% and 0.65%, respectively.
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