Jignesh Chaudhary, Head of Research, Veracity Broking Services said, “The Nifty and Sensex initially encountered correction, but bounced back later. The markets were expected to take major cues from the Q4 results of Reliance Industries (declared on Friday). Lower-than-expected numbers might affect the markets next week.”
“The economic calendar in the coming week will see some important data related to US economy. These related to home sales and core durable goods order.
“Technical indicators are suggesting a bullish trend in the coming days for Indian markets. The Nifty is expected to trade in the range of 6,700-6,800 and Sensex between 22,600 and 23,800 levels,” Chaudhary added.
Shares of Realty, Consumer Durable, Capital Goods, Metal and Power declined on selling pressure while FMCG, IT, Oil & Gas and Auto firmed up on good buying enquiries.
Fifteen scrips out of the Sensex pack ended lower while 15 others finished higher.
Major losers from the Sensex pack were HDFC (3.99 pc), Tata Power (2.96 pc), HDFC Bank (2.62 pc), BHEL (2.16 pc), Axis Bank (2.06 pc), Larsen (2.00 pc), SSLT (1.68 pc), Infosys (1.42 pc), NTPC (1.20 pc) and Coal India (1.01 pc).
However, Wipro rose by 3.10 pc followed by TCS 2.48 pc , ITC 2.72 pc , Icici Bank 2.14 pc m. Tata Motors 1.28 pc and SBI 1.18 pc .
Among the S&P BSE sectoral indices, Realty dropped by 4.14 pc followed by CD 1.62 pc, CG 1.07 pc, Metal 0.83 pc and Power 0.81 pc while FMCG rose by 2.20 pc, IT 0.82 pc, Oil& Gas 0.68 pc, Auto 0.63 pc and Teck 0.44 pc.
The total market turnover at BSE and NSE dropped further to Rs 8,498.88 crore and Rs 42,869.67 crore respectively during the truncated week from last weekend's level of Rs 10,374.36 crore and 66,228.39 crore.
Updated on: April 19, 2014 19:53 IST
