Sensex ends in red; banks, FMCG, oil & gas down

MUMBAI: The Bombay Stock Exchange's Sensex ended a low-volume choppy session in the negative territory led by losses in banks, FMCG and oil & gas space. The stock markets held a live special trading session on Saturday as the National Stock Exchange was conducting as it is upgrading its Futures & Options trading system hardware and software system.

Trading took place in capital market segment, F&O segment and Securities Lending & Borrowing Scheme and the trades will be settled on Tuesday as a separate settlement.

The cues from the US markets were positive after better-than-expected jobs data for December while Asian markets are shut for the day. According to analysts, policy initiatives by the Government will be the main determinant of the market movement in medium to long term.

"For our markets, the ensuing quarterly results season, RBI policy meeting and global events will be the events to watch out in the near term. Post that, budget expectations and the actual budget provisions will likely influence the markets. We believe that, in the medium - to - long term, the policy initiatives by the Government will be the main determinant of the market movement.

We maintain our bottoms approach of investing in companies with competent / transparent managements, having strong balance sheets and available at reasonable valuations," said Dipen Shah, Head- Fundamental Research, Kotak Securities.

The Sensex ended at 15848.80, down 18.93 points or 0.12 per cent. The 30-share index touched intraday high 15900 and low of 15835.29 intraday

The National Stock Exchange's Nifty closed at 4746.90, down 7.20 points or 0.15 per cent. It touched a high of 4759.40 and low of 4743.05 in trade so far.

"There is a developing pattern of head and shoulder in hourly chart of index which could complete if Sensex crosses 16050 and Nifty 4800. Indices are finding difficult to cross the neckline of the head & shoulder but, if the pattern gets complete than we can expect a smart rally which can take index to 4975 levels within few days.

We saw a low of 4686 short term charts are indicating that as long as Nifty stays above 4680 the possibility of touching higher level remains open in this leg of uptrend and the sustaining below 4680 will only change bias to negative," said Rakesh Gandhi, Sr Technical Analyst of LKP Securities.

BSE Midcap Index was up 0.73 per cent and BSE Smallcap Index moved 1 per cent higher.

Amongst the sectoral indices, BSE Bankex was down 0.33 per cent, BSE FMCG Index declined 0.22 per cent and BSE Oil&gas Index slipped 0.10 per cent. BSE Realty Index was up 0.72 per cent and BSE Capital Goods Index gained 0.26 per cent.

Jaiprakash Associates (-2.35%), ICICI Bank (-0.79%), Bajaj Auto (-0.76%), Hindalco Industries (-0.67%) and Sterlite Industries (-0.58%) were amongst the losers pack.

DLF (1.06%), Maruti Suzuki (0.59%), Coal India (0.52%), Hindustan Unilever (0.50%) and Sun Pharma (0.45%) were the major Sensex gainers.

Source: http://m.economictimes.com/PDAET/sensex-ends-in-red-banks-fmcg-oil-gas-down/articleshow/11400019.cms

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