After a soft start tracking global cues, the markets went further into negative territory before recovering towards the end to close flat, thereby forming a saucer pattern. Firm European opening triggered the recovery of the Indian benchmarks.

1. Markets end flat exhibiting saucer pattern
Market Summary
03-Aug-2012
After a soft start tracking global cues, the markets went further into negative territory before recovering towards the end to close flat,
thereby forming a saucer pattern. Firm European opening triggered the recovery of the Indian benchmarks.
After U.S. Federal Reserve, European Central Bank (ECB) has now disappointed markets by not delivering on stimulus front. The U.S.
and Asian markets largely closed in red.
Bad news from the Indian services sector, the HSBC Purchasing Managers' Index (PMI) for the services sector, dropped to 54.2 in July
from June's 54.3 signifying lower optimism about future growth. Earlier this week the July manufacturing PMI also fell to 52.9 in, from
55 in June -- its biggest one-month drop since September last year denoting contraction in manufacturing growth.
ICRA Ltd Quarterly Result: For the period while the Net Sales increased by 16.40%, Net Profit grown by 104.24% and thereby NPM
improved to 29.42% as compared to 16.77% on y-o-y basis. The stock gained 3.5% on NSE today. (Detailed Result)
The market breadth on the BSE closed in negative. Advances and declining stocks were in a ratio of 1235:1519 while 138 scrips
remained unmoved.
The BSE Sensex ended at 17197.93, down 26.43 points or 0.15%. The 30 share index touched a high and a low of 17208.36 and
17026.97 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The S&P CNX Nifty lost 12.05 points or 0.23% to settle at 5215.70. The index touched high and low of 5220.20 and 5164.65
respectively. 19 stocks advanced against 31 declining ones on the index.
Sensex Nifty
The BSE Mid-cap index moved down to 6072.53 and lost 0.18% while Small-cap index hammered down by 0.08% to 6545.70.
The broader BSE 500 index decreased to 6615.20 (down 0.23%) and S&P CNX 500 index declined to 4129.05 (down 0.24%).
The volatility as denoted by INDIA VIX lost 3.88% at 16.12 from its previous close of 16.77 on Thursday.
Sectors in action
On the BSE Sectorial front, Oil & Gas (up 0.68%), Healthcare (up 0.58%) and Information Technology (up 0.54%) were the top gainers.
Metals (down 1.64%), Automobile (down 0.83%) and Banks (down 0.62%) were the top losers.
The Angels and the Devils
Wipro Limited (up 2.04%), NTPC Limited (up 1.84%), Dr. Reddys Laboratories Ltd. (up 1.62%), Oil and Natural Gas Corporation
Limited (up 1.34%) and GAIL (India) Limited (up 1.29%) were the top gainers on the Sensex.
Sterlite Industries (India) Limited (down 2.62%), T Steel Limited (down 2.20%), Hindalco Industries Ltd. (down 2.06%), ICICI Bank
ata
(down 1.98%) and Jindal Steel and Power Limited (down 1.91%) were the top losers on the Sensex.
Benchmark Drivers
ICICI Bank (-26.06 points), ITC Limited (-13.03 points), HDFC Bank (13.01 points), Oil and Natural Gas Corporation Limited (7.53
points) and Reliance Industries Limited (7.32 points) were the major Sensex drivers today.
On the other end ICICI Bank (-6.77 points), ITC Limited (-3.56 points), HDFC Bank (3.33 points), Oil and Natural Gas Corporation
Limited (2.02 points) and Tata Steel Limited (-1.89 points) were the major Nifty movers today.
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