In yet another volatile session on March 12, the Indian benchmark indices ended with marginal gains with BSE Sensex rising 165.32 points or 0.22 percent at 73,667.96, while the Nifty gained three points or 0.01 percent at 22,335.70.
Investors will keep an eye on release of US inflation data tonight, to get hints on when Federal Reserve will commence its rate cut cycle.
After a flat to positive start, the market extended the gains as the day progressed but witnessed profit booking amid selling across the sectors barring Information Technology names.
Top gainers on the Nifty included HDFC Bank, TCS, LTIMindtree, Maruti Suzuki and Infosys, while losers were Adani Enterprises, Cipla, Grasim Industries, Adani Ports and SBI.
On the sectoral front, except IT all other indices ended in the red with realty index down nearly 3.5 percent, PSU Bank and Media indices down two percent each, while capital goods, FMCG, healthcare, metal and power indices fell one percent each.
BSE Midcap index was down 1.3 percent and Smallcap index shed two percent.
Among individual stocks, a volume spike of more than 200 percent was seen in Aditya Birla Capital, Indiamart Intermesh, Oracle Financial Services Software.
A long build-up was seen in Balkrishna Industries, Aditya Birla Capital, Indiamart Intermesh, while a short build-up was seen in DLF, NALCO and Bharat Electronics.
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 83,467.66 | 862.23 | +1.04% |
Nifty 50 | 25,585.30 | 261.75 | +1.03% |
Nifty Bank | 57,422.55 | 622.65 | +1.10% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Nestle | 1,276.60 | 55.20 | +4.52% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Eternal | 347.85 | -6.50 | -1.83% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty FMCG | 55853.90 | 1105.20 | +2.02% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty PSU Bank | 7688.75 | -34.35 | -0.44% |
TCS, Oracle Fin Serv, Interglobe Aviation, Quick Heal Technologies, eMudhra, Hercules Hoists, Cigniti Technologies, Gujarat Themis, Waaree Renewable, among other, touched their 52-week high on the BSE. Click here for the full list
Outlook for March 13
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
The Nifty witnessed an extremely volatile day of trade today. Intraday it witnessed a swing of ~200 points though managed to close marginally in the green up ~3 points. On the daily charts we can observe that the Nifty is rangebound between 22200 – 22600 since past seven trading sessions. On the downside multiple support parameters in the form of the 20-day moving average (22199) and the previous swing low (22224) are likely to absorb the selling pressure and provide cushion in case of a decline. On the upside, 22500 – 22550 shall act as an immediate hurdle.
The Bank Nifty has tested the 20-day moving average (46900) and witnessed a decent pullback to close in the off the intraday lows though on a negative note down ~45 points. Crucial support for Bank Nifty is placed at 47000 – 46900 while resistance is placed in the zone 47820 – 48000.
The broader market witnessed deep cuts today with the Midcap Index closed in the red down ~1.4% while Small cap Index closed down ~1.98%. The small cap index has reached the 20-week moving average 15075 and hence the intensity of the fall in the small cap stocks may reduce hereon.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Buying in select frontline stocks helped key benchmarks to end in positive territory in a volatile trading session, although markets witnessed broad-based selling, especially in realty, power and capital goods stocks. The focus is on the inflation readings to be released in the US and India, as any further moderation would improve the prospects of a rate cut by the Fed.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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