Equity markets ended yet another volatile trading session higher. Domestic indices started the trading session higher tracking positive cues from Asian markets, however experiencing volatility, markets during mid-session slipped in red. Supported by inflows from foreign funds, it once again regained strength towards end day to close above the flat line. The Service sector growth as measured by HSBC's services purchasing managers' index, in June dropped to 54.3 in June from 54.7 in May. Market breadth was positive as on BSE, 1,704 shares gained and 1,124 shares declined.
The BSE Sensex touched a high of 17,523 and a low of 17,372 before it closed with 0.2% or 37 points gains at 17,462. Mid cap and small cap stocks also grew and were able to beat their large cap counterparts. The BSE Mid-cap and BSE Small-cap indices closed 0.9% higher each. Similarly the S&P CNX Nifty gained 0.3% or 15 points higher crossing 5,300 level at 5,303 points.
Majority of the indices on the BSE sectoral space ended in green with a few exceptions. The BSE Metal index (up 2.1%) was the highest gainer which grew on hopes of monetary policy easing from China. This was followed by the BSE Realty and BSE Consumer Durable indices which each grew by 1.9% and 0.75 respectively. On the other hand, the top loser was the BSE Oil & Gas index which fell 0.6%. IT stocks slipped recent rally in rupee. The BSE IT index fell 0.4%. The BSE FMCG index fell 0.5% on the back of delay in monsoons.
Of the BSE – 30 stocks, 10 stocks fell while the others grew. ONGC, Dr Reddy, Wipro, HUL and Coal India were the top five losers which each fell 1.7%, 1.6%, 1.5%, 1% and 0.8% respectively. On the contrary, the top five gainers were Sterlite Ind, Jindal Steel, Maruti, Bharti Airtel and SBI which each grew by 5.3%, 3.4%, 2.6%, 2.2% and 1.9% respectively.
As per the data released by SEBI, foreign institutional investors were net buyers in equity to the tune of Rs 560 crores similarly they were net buyers in debt segment to the tune of Rs 50 crores.