Indian markets settledhigheron Monday. Finance Minister P
Chidambaram has presented interim budget in the Lok Sabha today.
Banking and power stocks witnessed a gain whereas consumer durables
and realty stocks registered a fall.
The finance minister said that the government will curb fiscal
deficit at 4.6% for FY14.Cars, mobiles and consumer durables to be
cheaper. Chidambaram also announced that India's current account
deficit for 2013-14 will come down to USD 45 billion and forex
reserves will rise by USD 15 billion by end of this fiscal.He
alsoslashed excise duty on cars, SUVs and two-wheelers, and capital
goods and consumer durables to boost manufacturing and growth.
At the close, the benchmark 30-share index, BSE Sensex gained
97.24 points or 0.48% at 20,464.06 with 20 components registering
rise. Meanwhile, the broad based NSE Nifty went up by 28.15 points
or 0.47% at 6,076.50 with 31 components registering rise.
I C I C I Bank contributed rise of
34.78 points in the Sensex. It was followed by H D F C Bank (22.01
points), Housing Development Finance Corporation (18.26 points),
Mahindra & Mahindra (14.83 points) and Tata Power Company (9.54
However, Reliance Industries contributed fall of 21.46 points in
the Sensex. It was followed by Tata Motors (3.13 points), Reliance
Communications (2.49 points), Sun Pharmaceutical Industries (2.36
points) and Hindalco Industries (2.13 points).
Major gainers in the 30-share index were Tata Power Company
(4.81%), Mahindra & Mahindra (2.83%), Dr Reddy's Laboratories
(2.45%), I C I C I Bank (2.13%), Hero Motocorp (1.99%), and Maruti
Suzuki India (1.38%).
On the other hand, Coal India (1.59%), Hindalco Industries
(1.35%), Reliance Industries (1.22%), Wipro (0.56%), Bharat Heavy
Electricals (0.54%), and Sun Pharmaceutical Industries (0.49%) were
the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap settled lower -9.93 points or 0.05% at 6,301.95
however the Bse Smallcap gained 0.91 points or 0.01% at 6,280.60 at
the closing.The major losers in the BSE Midcap were A B G Shipyard
(5.03%), CORE Education and Technologies (4.55%), A I A Engineering
(1.41%), Aban Offshore (0.78%) and Alstom India (0.02%).The major
gainers in the BSE Smallcap were Ahluwalia Contracts (India)
(2.67%), Genesys International Corporation (0.7%), Reliance
MediaWorks (0.31%), Adhunik Metaliks (0.17%) and Advanta
Sectors in Limelight
The Bankex index was at 11,830.53, up by 172.75 points or by
1.48%. The major gainers were I C I C I Bank (2.13%), H D F C Bank
(1.36%), Indusind Bank (1.19%), Canara Bank (0.92%) and Federal
The Power index was at 1,523.09, up by 17.86 points or by 1.19%.
The major gainers were Adani Power (3.95%), A B B India (2.55%),
JSW Energy (2.35%), C E S C (2.11%) and NTPC (1.36%).
The Consumer Durables index was at 5,664.80, down by 48.45
points or by 0.85%. The major losers were Titan Company (1.23%),
Symphony (1.12%), T T K Prestige (0.85%), Bajaj Electricals (0.83%)
and Gitanjali Gems (0.77%).The Realty index was at 1,199.84, down
by 10.14 points or by 0.84%. The major losers were Indiabulls Real
Estate (1.48%), Anant Raj (1.36%), D L F (1%), Godrej Properties
(0.48%) and Oberoi Realty (0.46%).
Market breadth was negative with 1,270 advances against 1,395
Value and Volume Toppers
Tata Elxsi topped the value chart on the BSE with a turnover of
Rs. 406.49 million. It was followed by Aurobindo Pharma (Rs. 385.82
million), Multi Commodity Exchange of India (Rs. 377.03 million)
and State Bank Of India (Rs. 366.70 million).
The volume chart was led by I F C I with trades of over 1.95
million shares. It was followed by Spicejet (1.86 million), Unitech
(1.64 million) and Jaiprakash Associates (1.61 million).