Market takes a breather, Sensex ends 48 points down

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The Nifty took a breather today after three days of a stellar rally that pushed the benchmark index to six-month high of 5540. A gush of liquidity or Hot Money as we call it, of close to USD 4 billion, has made its way into the Indian market so far. The investor's appetite towards risky assets has also improved over the past two months.

The hopes of rate cut also picked up steam after inflation moderated to two-year low of 6.55%.

The Sensex was down 48.42 points or 0.27% at 18153.99, and the Nifty was down 10 points or 0.18% at 5521.95.

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About 1624 shares advanced, 1280 shares declined, and 495 shares remained unchanged.

Realty, power and capital goods stocks were on buyer's radar today. Metal, Oil&gas and consumer durable stocks ended in red.

Top gainers on the Sensex were Jindal Steel at Rs 639.95 up 4.94%, Hero Motocorp at Rs 2,188.65 up 4.57%, SBI at Rs 2,349.05 up 4.38%, Maruti Suzuki at Rs 1,357.20 up 4.10% and Bajaj Auto at Rs 1,812.65 3.81%.

Top losers on the Sensex were Coal India at Rs 321 down 5.44%, Hindalco at Rs 154.65 down 4.71%, Sterlite Ind at Rs 129.15 down 4.16%, Tata Motors at Rs 275.90 down 3.67% and Tata Steel at Rs 479.15 down 3.23%.

Substantial decline was witnessed in Coal India counter on reports of PMO directing the company to sign fuel supply agreements (FSAs) with power plants. Power companies like PFC and REC gained on the same news.

Movers & Shakers

DB Realty, TV18 Broadcast, IFCI, Shipping Corp, Hind Nat Glass, Network 18, Provogue, Swan Energy, BharatiShipyard and Sasken Comm were star performers. 

Voltas, S Mobility, Shree Global, Vaarad Ventures, Sunteck Realty, KGN Enterprises, LGS Global, Techno Electric, Prakash Constro and Poly Medicure were laggards.

Most active shares on BSE were SBI, Reliance, Reliance Comm, Reliance Power and IFCI.

Top percentage gainers on the BSE - Zen Tech, De Nora India, Network 18, Cantabil Retail and Swan Energy were up 20% each.

Top percentage losers on the BSE - Ashika Credit, Alfa Transforme, Samrat Pharma, Vimal Oils and KGN Enterprises were up 8-11%.

Turnover: Total traded turnover was more than Rs 180529.85 crore. NSE F&O turnover stood at Rs 133022.73 meanwhile NSE and BSE cash turnover at Rs 16881.92 and Rs 3604.43 crore respectively.