Indian markets moved in a narrow range to finally end flattish. Domestic indices started off the day in positive tracking positive cues from Asian markets however it turned cautious over the upcoming monetary policy review and F&O expiry to remain range bound. It was towards the second half that the markets, following positive opening by European markets, garnered strength to close marginally above the flat line. Market breadth was positive as on BSE, 1,417 shares advanced and 1,366 shares declined.
The BSE Sensex touched a high of 16,784 and a low of 16,659 before it ended 0.1% or mere 12 points higher at 16,751. Similarly the S&P CNX Nifty swung positive to negative to close 0.1% or 2 points lower at 5,046. Mid cap and small cap stocks moved in tandem with their large cap peers. Both the BSE Mid-cap and BSE Small-cap indices inched up by 0.1% and 0.3% respectively.
It was a mixed bag on the sectoral front. The BSE FMCG index, which, after having corrected in the past few days emerged as the top gainer and grew by 0.8%. This was followed by the BSE Realty index which surged by 0.8% on the back of upcoming monetary policy review and the possibilities of rate cuts. As such the BSE Bankex and BSE Auto indices too grew by 0.2% and 0.5% respectively. On the other hand, BSE Metal index emerged as the top loser which shed nearly 2% during the day. Next in line was the BSE Oil & Gas index which dropped by 1.7%.
Among the BSE – 30 stocks, 11 declined, one remained unchanged while the others advanced. Sterlite Industries, Hindalco, Hero Motor, Reliance Ind and Coal India were among the top five losers which each declined by 5.4%, 4.3%, 4.1%, 2.8% and 2.7% respectively. On the flip side, the top five gainers were Maruti, Bhari Airtel, BHEL, DLF and ICICI Bank which grew by 5.8%, 3%, 2.7%, 2.5% and 1.8% respectively.
As per the data released by SEBI, Foreign institutional investors (FIIs) were net buyers in equity to the tune of Rs 997 crores. Similarly they were net buyers in debt segment to the extent of Rs 858 crores.