Key benchmark indices ended volatile trading session with small losses on first trading day of the week. The barometer index, the S&P BSE Sensex, fell 49.15 points or 0.19% to settle at 25,819.34. The Nifty 50 index fell 7.30 points or 0.09% to settle at 7,849.25. The losses for the Sensex were higher in percentage terms than those for the Nifty. Trading session was volatile as key indices reversed initial gains to hit intraday low in mid-afternoon trade only to cut losses in late trade.
The Sensex fell 49.15 points or 0.19% to settle at 25,819.34, its lowest closing level since 18 November 2015. The index rose 89.55 points, or 0.35% at the day's high of 25,958.04 in morning trade. The index fell 121.48 points, or 0.47% at the day's low of 25,747.01 in mid-afternoon trade.
The Nifty 50 index fell 7.30 points or 0.09% to settle at 7,849.25, its lowest closing level since 19 November 2015. The index rose 20.95 points, or 0.27% at the day's high of 7,877.50 in morning trade. The index fell 31.35 points, or 0.40% at the day's low of 7,825.20 in mid-afternoon trade.
The BSE Mid-Cap index rose 0.36%. The BSE Small-Cap index rose 0.46%. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was positive. On BSE, 1.484 shares rose and 1.180 shares fell. A total of 178 shares were unchanged.
The total turnover on BSE amounted to Rs 2710 crore, lower than turnover of Rs 2940.11 crore registered during the previous trading session on Friday, 20 November 2015.
Among the sectoral indices on BSE, the S&P BSE FMCG index (down 1.17%) and BSE Metal index (down 1.21%), underperformed the Sensex. The S&P BSE Healthcare index (up 0.49%), BSE IT index (up 0.1%), BSE Auto index (up 0.68%), BSE Bankex index (up 0.1%), BSE Capital Goods index (up 0.08%), BSE Consumer Durables index (up 1.14%), BSE Oil & Gas index (up 0.48%), BSE Power index (up 0.1%), BSE Realty index (up 0.86%) and BSE Teck index (up 0.12%) outperformed the Sensex.
Most PSU Banks declined. Bank of Baroda (down 1.05%), Bank of India (down 0.96%), IDBI Bank (down 0.89%), Union Bank of India (down 0.71%), Dena Bank (down 0.36%), Punjab and Sind Bank (down 0.26%), Corporation Bank (down 0.24%), Canara Bank (down 0.22%), Punjab National Bank (down 0.18%), Indian Bank (down 0.16%), Allahabad Bank (down 0.14%), UCO Bank (down 0.11%) and State Bank of India (down 0.04%), edged lower. Bank of Maharashtra (up 0.31%), Central Bank of India (up 0.36%), Vijaya Bank (up 0.44%), United Bank of India (up 0.70%), Syndicate Bank (up 0.99%) and Andhra Bank (up 1.27%), edged higher.
Most private sector banks rose. Federal Bank (up 1.15%), Yes Bank (up 1.13%), City Union Bank (up 1.11%), Axis Bank (up 0.72%), Kotak Mahindra Bank (up 0.51%) and ICICI Bank (up 0.11%), edged lower. HDFC Bank (down 0.33%) and IndusInd Bank (down 0.51%), edged lower.
Shares of state-run gas transmission and distribution firm GAIL (India) jumped 2.77% to Rs 358.45. The stock hit a high of Rs 369 and low of Rs 344 in intraday trade.
Index heavyweight and cigarette major ITC dropped 2.03% to Rs 337.40. The stock hit a high of Rs 344.85 and low of Rs 336.30 in intraday trade.
Metal and mining stocks declined. Jindal Steel & Power (down 4.86%), Hindalco Industries (down 3.82%), Vedanta (down 2.9%), Tata Steel (down 2.31%), Bhushan Steel (down 1.25%), Steel Authority of India (down 1.01%), JSW Steel (down 0.6%) and National Aluminium Company (down 0.13%), edged lower. Hindustan Zinc (up 0.53%), NMDC (up 0.82%) and Hindustan Copper (up 0.83%), edged higher.
Adani Ports and Special Economic Zone (up 2.52%) and Asian Paints (up 2.89%) gained. Vedanta (down 2.90%) and Hindalco Industries (down 3.82%) declined. Adani Ports and Special Economic Zone and Asian Paints will replace Vedanta and Hindalco Industries as constituents of the 30-share S&P BSE Sensex with effect from 21 December 2015.
The Sensex rose 385.97 points or 1.51% in the past two consecutive sessions to 25,868.49 on 20 November 2015 from a recent low of 25,482.52 on 18 November 2015. The Sensex has declined 837.49 points or 3.14% in this month so far (till 23 November 2015). The Sensex has fallen 1,680.08 points or 6.11% in this calendar year so far (till 23 November 2015). From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 985.80 points or 3.97%. The Sensex is off 4,205.40 points or 14.01% from a record high of 30,024.74 hit on 4 March 2015.
In overseas markets, European stocks declined after the release of mixed economic reports from Germany and France. Asian markets fell as commodity producers tracked a slide in industrial metals and crude oil. Japanese markets were closed for the Labor Thanksgiving Day holiday. US markets ended with gains on Friday, 20 November 2015 led by a rally in healthcare, consumer and technology stocks.
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