Post Session: Quick Review

It turned out to be a volatile session of trade at D-street, wherein benchmark equity indices slipped below the neutral line for several times. However, benchmark equity indices, managed to go home with green mark for the session, but for the week negotiated handsome gains of around a percent. Benchmark 30 share index edging slightly and concluded above 20,200 psychological levels. While, 50 share index Nifty gaining close to quarter of percent, ended above the crucial 6150 bastion. Meanwhile, midcap and Small cap indices too ended in green. Some respite on account of S&P affirming the current ‘BBB-‘rating to India, mainly helped in a positive close for equity markets. However, the global agency, besides maintaining the outlook as negative, underscored 1 out of 3 chances in rating downgrade for India in coming 12 months.

On the global front, Asian shares rose on Friday, led by fresh gains in Tokyo on growing expectations for Japan's economic recovery on the back of its government's economic measures. Meanwhile, European stocks pared some decline as banks advanced, offsetting a US Federal Reserve policy makers warning that the central bank may reduce its monthly bond purchases as early as this summer.

Closer home, the stocks from Power, Capital Goods and Realty Counters, were the major pockets of strength. Nevertheless, recovery of Banking pivotal also aided the sentiment at D-street. Banking shares were trading downbeat in early deals after two straight days of gains sparked by rising hopes the Reserve Bank of India cutting interest rates as early as June. Additionally, Ambuja Cements, ACC, Ultratech Cement ended positive even as Competition Appellate Tribunal (COMPAT) levied 10 per cent penalty of Rs 6,300 crore on cement companies, which needs to be paid within a month. COMPAT granted a stay on the penalty of Rs 1,163 crore levied on Ambuja Cements. However, Ambuja Cements has been asked to deposit Rs 116.30 crore, amounting to 10% of the penalty, within four weeks. On the flip side, Health Care, Consumer Durables, Metal counters limited the further upturn of the bourses. Meanwhile, select Pharma stocks too came under the pressure after the government formally notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps. The market breadth on the BSE ended negative; advances and declining stocks were in a ratio of 1112: 1245, while 142 scrips remained unchanged. (Provisional)

The BSE Sensex gained 27.56 points or 0.14% to settle at 20274.89.The index touched a high and a low of 20328.19 and 20155.01 respectively. Among the 30-share Sensex pack, 16 stocks gained while rest of them declined (Provisional)

The BSE Mid cap and Small cap indices ended higher by 0.32% and 0.09% respectively. (Provisional)

On the BSE Sectoral front, Power up by 3.37%, Capital Goods up by 3.28%, Realty up by 1.89%, PSU up by 0.63% and Bankex up by 0.42% were the top gainers, while Health Care down by 0.60%, Consumer Durables down by 0.49%, Metal down by 0.37%, Teck down by 0.13% and FMCG down by 0.04%, were the only losers in the space. (Provisional)

The top gainers on the Sensex were BHEL up by 4.00%, NTPC up by 2.24%,  ICICI Bank up by 1.92%, L&T up by 1.84% and Bajaj Auto up by 1.44%, while, Bharti Airtel down by 1.96%, Dr Reddys Lab down by 1.80%, Sterlite Industries down by 1.32%, Maruti Suzuki down by 1.00% and Wipro down by 0.94% were the top losers in the index. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) has reportedly asked bank to stop advertising for gold coin sale. Recently, in an attempt to stem runaway gold imports, which is one of the key reasons behind the widening trade and current account deficits, the RBI suggested that banks should not aggressively sell gold products at their branches.

Meanwhile, to de-motivate investors of gold as a hedge against rising prices and in-line with the Budget proposal to introduce instruments that will protect savings of poor and middle classes from inflation and motivate household sector to save in financial instruments rather than buy gold, the Reserve Bank of India (RBI), is all set to launch inflation-linked bonds every month, starting June 4, 2013.

India VIX, a gauge for markets short term expectation of volatility lost 0.95% at 17.57 from its previous close of 17.74 on Thursday. (Provisional)

The CNX Nifty gained 14.05 points or 0.23% to settle at 6,183.95. The index touched high and low of 6,199.95 and 6,146.15 respectively. 28 stocks advanced against 21 declining and one stock remains unchanged on the index. (Provisional)

The top gainers on the Nifty were BHEL up by 5.06%, Reliance Infrastructure up by 3.05%, Jaiprakash Associates up by 2.69%, DLF up by 2.68% and NTPC was up by 2.49%. On the other hand, IndusInd Bank down by 2.58%, HCL Tech down by 2.42%, Dr. Reddy's Laboratories down by 2.02%, Bharti Airtel down by 1.85% and NMDC down by 1.65% were the top losers. (Provisional)

Most of the European markets were trading in green with, France’s CAC 40 up by 0.25%, Germany’s DAX up by 0.23% and the United Kingdom’s FTSE 100 up by 0.23%.

Asian stock markets ended mostly higher on Friday, with Japanese market rising as the yen's slight decline triggered some buying at lower levels. Chinese market went home with green mark for a second straight session on Friday as investors cheered moves by the government to ease strict regulation while the rest traded cautiously as concerns grew after a Federal Reserve official tipped a pullback in the central bank's easing programs as soon as this summer. Meanwhile, Taiwan market closed lower as the market encountered stiff technical resistance ahead of 8,400 points.

Markets in Hong Kong and South Korea are closed for holidays.