Sensex down 48 points, global cues weigh

MUMBAI (Makemystocks): Indian equity market opened gap down amid weak global cues. Indices remained choppy and lackluster in first half of the day. Metal, Oil stocks witnessed profit booking in opening session. On the other hand Realty, Pharma stocks witnessed buying in opening session.

Markets extended losses in afternoon session tracking weak European cues. However, indices recovered most of the losses in closing session. Indices took breather after strong rally yesterday.

Markets breadth remained positive back of buying in Midcap and Smallcap stocks. Both indices closed with gain of 1.04% and 0.96% respectively. Benchmark indices ended with muted losses.

BSE Sensex closed at 18153.99 with the loss of 48.42 points and at NSE Nifty closed at 5521.95 with the loss of 10 points at the end of the day. BSE MIDCAP index closed at 6548.02 with the gain of 67.34 points and BSE SMALLCAP index closed at 7131.65 with the gain of 78.64 points.

In percentage terms key gainers were , Hero MotoCorp Ltd (NSE: HEROMOTOCO) and State Bank of India Ltd (NSE: SBIN) while key losers were Coal India  Ltd (NSE: COALINDIA), Hindalco Industries Ltd (NSE: HINDALCO) and Sterlite Industries (India) Ltd (NSE: STER).

On sectoral front major selling was seen in Metal, Oil & Gas and Consumer Durable sector while major buying was seen in Realty, Power and Capital Goods sectors. Market breadth on BSE remained positive were 1622 advances against 1313 declines stocks.

From the perspective of weight in Nifty key losers were Reliance Industries Ltd (NSE: RELIANCE), Tata Motors Ltd (NSE: TATAMOTORS) and ICICI Bank Ltd (NSE: ICICIBANK) while key gainers were State Bank of India Ltd (NSE: SBIN) Infosys Ltd (NSE: INFY) and Jindalsteel & Power Ltd (NSE: JINDALSTEL).

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