Markets end flat amidst choppy trading; breadth remains positive

1. Markets end flat amidst choppy trading; breadth remains positive
Market Summary
01-Aug-2012
After rallying for three straight sessions, the benchmarks started on a subdued note and oscillated several times about previous close
before ending flat. Choppy trading was the order of day when global cues were mostly mixed.
On the macro front, a day after the RBI brought down its expected GDP growth for the year from 7% to 6.5%, the fiscal deficit in the first
quarter of this financial year stood at a little more than a third of the Budget estimate for 2012-13. Fiscal deficit touched 37.1% of the
budgeted amount at the end of June as the government struggled to curb expenditures, though it’s slightly lower than the deficit
registered for the same period last year of 39.4%. (News)
Bad news from manufacturing sector, Indian manufacturing growth has slowed down in July as depicted by the HSBC
manufacturing Purchasing Managers' Index (PMI). The manufacturing PMI, that measures business activity at India's factories, fell to
52.9 in July, from 55 in June -- its biggest one-month drop since September last year.
Cipla June quarter numbers have comfortably beaten the street expectations. For the period while the Net Sales increased by
23.05%, Net Profit grown by 58.19% and thereby NPM improved to 20.47% as compared to 15.92% on y-o-y basis. The stock gained
4.4% on BSE today. (Detailed Result)
Meanwhile, Coal India Limited (CIL) reported to have revised the controversial penalty clause in the fuel supply agreements (FSAs) to
be signed with the power firms. CIL has also agreed to supply at least 80% of the required fuel to power firms. The stock suffered
2.73% on BSE.
The market breadth on the BSE closed in positive. Advances and declining stocks were in a ratio of 1649:1122 while 135 scrips
remained unmoved.
The BSE Sensex ended at 17257.38, up 21.20 points or 0.12%. The 30 share index touched a high and a low of 17291.99 and
17189.16 respectively. 16 stocks advanced against 14 declining ones on the benchmark index.
The S&P CNX Nifty gained 11.50 points or 0.22% to settle at 5240.50. The index touched high and low of 5246.35 and 5212.65
respectively. 29 stocks advanced against 21 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved up to 6069.67 and gained 0.95% while Small-cap index jumped up by 1.12% to 6520.30.
The broader BSE 500 index increased to 6632.78 (up 0.41%) and S&P CNX 500 index rose to 4141.85 (up 0.37%).
The volatility as denoted by INDIA VIX gained 2.75% at 16.45 from its previous close of 16.01 on Tuesday.
Sectors in action
On the BSE Sectorial front, Healthcare (up 1.32%), Capital Goods (up 1.07%) and Real Estate (up 0.88%) were the top gainers.
Metals (down 0.69%), Oil & Gas (down 0.35%) and Information Technology (down 0.34%) were the top losers.
The Angels and the Devils
Cipla Limited (up 4.40%), Bharat Heavy Electricals Limited (up 2.13%), T Power Company Limited (up 1.63%), Housing
ata
Development Finance Corporation Limited (up 1.60%) and State Bank of India (up 1.37%) were the top gainers on the Sensex.
Coal India Ltd. (down 2.73%), Oil and Natural Gas Corporation Limited (down 1.94%), Hero MotoCorp Ltd. (down 1.71%), Tata
Consultancy Services Limited (down 1.05%) and Tata Steel Limited (down 1.03%) were the top losers on the Sensex.
Benchmark Drivers
Housing Development Finance Corporation Limited (18.51 points), Oil and Natural Gas Corporation Limited (-11.30 points), State
Bank of India (9.88 points), Cipla Limited (9.25 points) and T Consultancy Services Limited (-9.12 points) were the major Sensex
ata
drivers today.
On the other end Housing Development Finance Corporation Limited (3.81 points), T Consultancy Services Limited (-3.46 points),
ata
Oil and Natural Gas Corporation Limited (-3.10 points), State Bank of India (2.65 points) and Cipla Limited (2.49 points) were the
major Nifty movers today.
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