Summary of today's Indian stock market

As was predicted, earlier in the day, the market remained flat and range bound today. It was also predicted that one should buy at declines. If one looks back towards the movements of the market today, one must have noticed that whenever there is a fall, buyers rushed in and the index moved up. Also when the market moved up, sellers rushed in to book profit. No one was ready to take long positions. As compared to yesterday, the market was much volatile.

 The BSE Sensex lost 22.55 points and settled at 19387.14. The index touched a high and a low of 19612.18 and 19285.29 respectively. The S&P CNX Nifty lost 10.10 points or 0.17% to settle at 5,898.80. The index touched high and low of 5,965.15 and 5,865.45 respectively. For the third consecutive day, BSE Sensex closed on a negative note.

Barring the BSE FMCG index all the sectoral indices on the BSE ended with losses. The Mid-Cap and Small-Cap banking stocks were among the top losers after reports stated that the Banking Laws (Amendment) Bill 2012 in the Lok Sabha saw stiff resistance and its smooth passage in the coming days appears to be a challenge for now. Among the sectoral indices, BSE Realty index was the top loser, down 2% followed by BSE Oil & Gas, BSE PSU and BSE Power index all declined by 1% each. Even the BSE Mid-Cap and BSE Small-Cap index fell by 1.1% each. 

Among the top gainers were Jindal Steel, Bajaj Auto Ltd, Ambuja Cement, Hindustan Unilever, Ultratech Cement, Sun Pharma and HDFC. Among the top loosers were, Hindalco, BHEL, Cairn India, DLF, NTPC, Coal India and Tata Power.