The BSE Sensex closed lower by 150.76 points at 14,899.10 and NSE Nifty ended down by 56.25 points at 4,447.75. The BSE Mid Caps and Small Caps ended with losses of 7.84 points and 8.02 points at 5,829.17 and 6,974.37. The BSE Sensex touched intraday high of 14,994.15 and intraday low of 14,766.01.

The Indian market retreated from Tuesday’s strong rally to end the day in red territory. The market was downbeat throughout the trading session as investors’ awaited inflation data and progress in India-US nuclear agreement.

NSG meet is scheduled today in Vienna to consider whether India should be allowed to resume civil nuclear trade with international community. Domestic markets opened in red tracking weak cues from global markets along with inflation worries.

Market stayed in negative territory on significant selling pressure and recovered a bit after mid session but was not able to sustain the momentum and slipped further to close in red. Negative opening of European markets also fueled the negative sentiment.

SECTORAL CHANGES:

From the sectoral front, Reality counter witnessed heavy selling pressure and ended with a deep cut of more than 3%. Along with this, profit booking was also visible in Metal, Oil & Gas, Capital Goods and FMCG stocks. However, IT and Pharma stocks were able to gain ended the day in green zone.

The BSE Metal index plunged 198.75 points to close at 12,182.90.

The BSE Oil & Gas index closed lower by 181.31 points at 9,844.65.

The BSE Reality index dropped 171.55 points to close at 5,195.72.

The BSE Capital Goods index lost 115.06 points to close at 12,188.18.

The BSE FMCG index ended down by 43.46 points at 2,212.58.

The BSE IT index closed up by 18.77 points at 4,085.70.

MARKET BREATH:

The market breadth was positive as 1332 stocks closed in green while 1259 stocks were ended in red and 94 stocks remained unchanged in BSE.

Major Gainers:

Gainers from the BSE KSK Energy Ventures (9.02%), Akruti City Ltd (7.60%), Aban Offshore Ltd (5.33%), UCO Bank (4.56%), Piramal Healthcare (3.71%).

Major Lossers:

Lossers from the BSE are Guj. Mineral Dev (14.51%), Indiabulls Real Esta (10.24%), GujaratStatePetronet (7.07%), Great Eastern (5.27%), Indiabulls Securities (4.67%).

Volume Toppers:

RNRL again was again among the most traded counter today too. Others like Austral Coke & Projects, IFCI, DISH TV, IDFC and DABUR INDIA were most active counters today.

Expected Next Day MarkTrading DAY:

The market is likely to be rangebound and will need constant flow of good news to go past 4600 on Nifty. If inflation comes lower and there are good results, market may rally which will be used as an opportunity to book profits. But the market will need stronger global or domestic triggers for it to go above 4600 on the Nifty.

The crude undertone is bearish. But we may see support for it at $100 per barrel levels. But one can expect crude to bounce back to $120 levels in October.

Even if the market opens in the negative terrain tomorrow, buying will be seen at lower levels. If the Nifty falls 40-50 points, then it is advisable to buy, even for the short term. An upside in banking and capital goods stocks is visible.

A positive outcome of the NSG (Nuclear Supplierÿs Group) meet will be positive for the market as well. The recent rally is due to weak oil and commodity prices, interest rates and good quarterly earnings.

 Wish you all the best...