Post Session: Quick Review

Extending last session’s gains, benchmarks equity indices ended in green on the last trading day of the week, with gains of close to half a percent. Although, the session did not turn out be as splendid as it appeared in the start, but benchmarks managed to eke out decent gains. Much of profit-booking was witnessed in the last leg of the trade, as investors preferred locking gains ahead of US jobs data that could bolster or derail, the case for the Federal Reserve to start dialing down its asset-buying programme this year.  Benchmark indices, Sensex and Nifty, facing stiff resistance near 19,600 and 5,900 psychological levels, finally concluded above 19450 and 5850 levels respectively. Meanwhile, broader indices yet again underperforming their larger peers went home with gains of just about 0.15%.

On the global front, Asian stocks rose on Friday, while sterling hit a five-week low, after two of Europe's most important central banks surprised the market by assuring investors they were in no hurry to wind down stimulus. Meanwhile, European briefly dipped into the red in jittery trade on Friday, with investors squaring positions after the previous session's sharp gains and ahead of a keenly watched U.S. non-farm payrolls report today.

Closer home, besides Technology and Information Technology counters, all other sectoral indices ended in green. Rally was led by Oil & Gas, Fast Moving Consumer Goods and Metal counters. Gains of Oil & Gas pivotal were led by RIL shares, which rallied close to 2% by the end of the trade. Meanwhile, select sugar stocks also sweetened on reports that the government has decided to raise the import duty on the sweetener to 15 per cent from 10 per cent currently. The market breadth on the BSE ended positive; advances and declining stocks were in a ratio of 1215:1112, while 142 scrips remained unchanged. (Provisional)

The BSE Sensex gained 84.98 points or 0.44% to settle at 19495.82.The index touched a high and a low of 19640.27 and 19477.74 respectively.  The BSE Mid cap and Small cap indices ended higher by 0.18% and 0.26% respectively. (Provisional) 

On the BSE Sectoral front, Oil & Gas up by 1.49%, FMCG up by 0.89%, Metal up by 0.62%, Capital Goods up by 0.49% and PSU up by 0.47% were the top gainers, while Teck down by 0.54% and IT down by 0.29% were the only losers in the space. (Provisional)

Out of the 30 stocks on the Sensex, 15 stocks settled higher, while 15 stocks settled lower. The top gainers on the Sensex were Jindal Steel up by 3.10%, ONGC up by 2.20%, BHEL up by 2.03%, RIL up by 1.97% and HDFC Bank up by 1.48%. On the flip side,  Bharti Airtel down by 2.34%, Gail India down by 2.05%, ICICI Bank was down by 1.13%, Mahindra & Mahindra was down by 0.99% and Hero MotoCorp was down by 0.79% were the top losers on the Sensex. (Provisional)

Meanwhile, Indian business climate improved in June on the back of rising output of intermediate goods and cooling commodity prices globally. The 'BluFin Business Cycle Indicator (BCI)', which reflects various macroeconomic trends on a monthly basis, stood at 167.1 points in June, 5.6 percent higher compared to the same month of previous year, suggesting that Indian economy is growing at a faster rate than the previous year. The BCI index is based on components in four broad categories including foreign trade, capital market, policy and the real economy. 

As per the financial services provider BluFin’s report the intermediate sector continues to be a major contributor to BCI growth. It said that high production of aluminium, pig iron and copper and data on consumer demand indicate an economic expansion. Further, declining international commodity prices like copper, aluminium and gold have boosted the economy's growth, despite the major fall in rupee value, which has eroded a large part of the benefit.

Indicating a reversal in the economic slowdown since July 2012, BluFin expects that Indian economy would grow at 5.3% in the first quarter of financial year 2013-14.However, in past, the BCI has grown by an average of 7 percent year-on-year.

Earlier, the BluFin has reported that Indian consumers' confidence level rose in June on the back of easing inflation but concerns remained over job security. BluFin's Consumer Confidence Index (CCI) rose to 41.9 points in June, an uptick of 0.5 points over the previous month.India VIX, a gauge for markets short term expectation of mariganlly gained 0.48% at 18.67 from its previous close of 18.58 on Wednesday. (Provisional)

The CNX Nifty gained 28.15 points or 0.48 % to settle at 5,865.10. The index touched high and low of 5,900.45 and 5,858.45 respectively. Out of the 50 stocks on the Nifty, 30 ended in the green, while 20 ended in the red.

The major gainers were Reliance Infrastructure up 4.09%, IDFC up by 4.35%, JP Associate up by 4.10%, Jindal Steel up by 2.77%, NMDC up by 2.72% and Asian Paints up by 2.60%. The key losers were Gail down by 2.32%, Bharti Airtel down by 2.04%, Lupin down by 1.71%, ICICI Bank down by 1.18% and M&M down by 1.02%.(Provisional)

Most of the European markets were trading in red with, France’s CAC 40 down by 0.19% and Germany’s DAX down by 0.18%, while the United Kingdom’s FTSE 100 up by 0.57%.

Prolonging the previous session’s rally, all the Asian equity indices barring Kospi Composite, ended in the green on last trading day of the week, as investors piled-up positions in risky assets ahead of US monthly jobs data, which is expected to show modest improvement in US hiring. Sentiments also remained upbeat following the European Central Bank and the Bank of England overnight pledging to keep interest rates low for an extended period to support growth. Chinese benchmark edged little higher to hit highest close in two weeks on Friday, as strength in the property sector helped indexes to their first weekly gain in five ahead of a slew of June economic data next week.