Lacklustre special session ends on a negative note

The short special session of the Indian markets remained lacklustre and after a positive start closed with marginal losses. As it was not a regular session traders were not very active lacking any FII participation. Though, the PSU sector that had been buzzing in the week remained in limelight throughout the session along with realty but rest of the gauges lacked much buying interest. While, one of the rate sensitive realty was in top gainers the other, banking remained in the top laggards list. Among the PSU sector, fertilizers stocks, RCF, National Fertilizers etc. surged by over 15 percent in the short trading session, it was reported that the fertilizer ministry is planning to oppose the oil ministry’s proposed move to cut off the supply of cheap gas to non-urea fertilizer plants. Presently the fertilizer companies typically get gas under the administered pricing mechanism and if fertilizer units use gas procured at market rates the country will become dependent on imports for the chemical. The power sector took some support with statement of Montek Singh Ahluwalia, the deputy chairman of Planning Commission, who concerned over rising energy import bills amid a weaker rupee said that there is a need to raise energy prices to achieve nine per cent growth. Stocks like, JSW Energy, GVK Power, Adani Power, NHPC all were up by 0.50-2.50%. Individual stocks remained buzzing and one of the market heavyweight, JP Associates plunged on the buzz that Capital market regulator Securities and Exchange Board of India (SEBI) has imposed penalty totalling Rs70 lakh on three senior executives of Jaiprakash Associates (JAL), including executive chairman Manoj Gaur.

Finally BSE Sensex closed at 15,848, down by 18.93 points or 0.12%, while the S&P CNX Nifty closed at 4,746.90, down by 7.20 points or 0.15%.

The market breadth on the BSE remained in the favour of advances with 1570 stocks advancing against 652 declines while 84 remained unchanged.The broader markets outperformed their larger peers in the short session and the BSE Mid cap index closed with gain of 0.73%, while the Small cap index was up by 1%

On the BSE Sensex, the top gainers were DLF up by 1.06%, Maruti Suzuki up by 0.5%, Coal India up by 0.52%, HUL up by 0.50% and Sun Pharma was up by 0.38%.

On the other hand JP Associates down by 2.35%, Bajaj Auto down by 0.97%, ICICI Bank down by 0.7%, HDFC down by 0.67% and Hindalco Industries down by 0.67% was the top losers.

The top gaining sectoral indices on the BSE were, PSU up by 1.45%, Realty up by  0.78%,Consumer Durables (CD) up by 0.60% , Health Care (HC) up by 0.33% and Information technology (IT) was up by 0.26%.

On the flipside the top losing indices were, Bankex down by 0.50%, FMCG down by 0.19% and Oil & Gas was down by 0.09%.

The S&P CNX Nifty touched a high and low of 4,759.40 and 4,743.05 respectively. There were 25 advances against 25 declines on the index.

The top gainers of the Nifty were, DLF up by 1.20%, Maruti Suzuki up by 0.69%, GAIL up by 0.63%, Ranbaxy was up by 0.55% and RCom was up by 0.52%.

On the flip side, JP Associates was down by 2,44%, Kotak Bank was down by 1.09%, ICICI Bank was down by 0.96%, Ambuja Cements down by 0.81% and HDFC Bank was down by 0.68%.