Indian Stock Market Roundup and Analyst View: Nirmal Bang Securities
The benchmark indices ended on a flat note after a huge volatile session. The Sensex witnessed a swing of 234 points between an intraday high of 15,463 and low of 5,228 before closing at 15,375 down just 4 points. The Nifty shut at 4,572 up 4 points, after seeing a swing of 68 points between day's high/low of 4,596 and 4,528 respectively. Among the broader indices - both BSE Midcap and Smallcap indices went up 1.4% each.
FMCG, realty, power and metal stocks witnessed huge buying interest while oil & gas, banking and select auto stocks were under pressure. The market breadth was positive but the volumes were lower, total traded turnover was at Rs 75,663 cr. as against Rs 99,910 cr. The July Nifty future ended with 4 points premium and Aug Nifty future ended with 10 points premium.
Movers & Shakers
Huge buying was seen in FMCG stocks. Godrej Consumer was up 8.4% and HUL rose 5.90%. Nestle, Colgate, ITC, Marico, Dabur India and Tata Tea gained 2.5-3.7%.
Power stocks witnessed buying interest. Stocks like Torrent Power, Lanco Infratech, Neyveli Lignite, Tata Power, GVK Power, GMR Infra and Suzlon Energy went up 3-9%.
In the metal space, JSW Steel, Jindal Saw and Tata Steel were up 4-8.7%.
The BSE Realty Index surged 3%, Omaxe shot up 14.46%. Parsvnath, DLF and HDIL were up 5-6.5%.
Select auto stocks remained under pressure. Hero Honda, Ashok Leyland and M&M fell 1.8-3%.
Selling in oil & gas space was due to disappointing Q1 numbers from the Reliance Industries. The Oil & gas index fell 3%. Stocks like Reliance Ind slipped 3.7% and RPL down 4%. GAIL and ONGC were down 2.8-3.6%.
RIL was the biggest loser in the Sensex pack. The counter fell 3.7 % to Rs 1,938. Hero Honda Motors, ONGC and HDFC were the other losers down over 1.9 % each.