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Markets end flat; marginally up in 2013

Last updated on: December 31, 2013 16:28 IST

Markets end flat; marginally up in 2013

Tulemino Antao in Mumbai

Markets ended flat on Tuesday, the last trading day of 2013, amid lacklustre participation from institutional investors. However, for the calendar year 2013, both the benchmark indices ended with single digit gains.

The 30-share Sensex ended up 28 points at 21,171 and the 50-share Nifty ended up 13 points at 6,304.

For the year ended 2013, the BSE Sensex gained 9% compared to its close of 19,427 on December 31, 2012 while the NSE Nifty ended gained nearly 7% compared to its close of 5,905 last year.

The rupee was trading strong in late trades amid thin dollar demand. The rupee was trading at Rs 61.82 compared with previous close of Rs 61.92 per dollar. Currency dealers expect the rupee to trade firm for the rest of the session due to lack of significant dollar demand.

Asian markets witnessed range bound trades amid thin volumes because of lacklustre participation from investors as most markets in the region were closed.

Japan's Nikkei yesterday recorded the highest gain in the region during 2013 up 57%, the highest rise in four decades.

Chinese stocks however emerged as one of the worst performing in the region, down 7.5% in 2013. The Shanghai Composite ended up 0.9%, Straits Times rose 0.5%, and Hang Seng gained 0.3%.

European shares were marginally up amid low volumes with some markets closed while others will have half-day trading session. The CAC-40 and FTSE-100 were marginally up 0.3% each while Germany's DAX was closed for trading.

Most sectoral indices on the BSE ended with marginal gains led by Power, Oil and Gas indices. Metal and FMCG indices ended with marginal losses.

Reliance Industries ended up 1.1% contributing the most to the gains on the Sensex. Other Sensex gainers include, TCS, L&T, Axis Bank and Tata Power among others.

Infosys was among the top Sensex losers along with HDFC Bank, ITC and M&M.

Engineering major BHEL ended down 1.6% amid profit taking after recent gains.

Among other shares, Global Offshore Services ended locked in upper circuit of 5% at Rs 107, extending its past two month long rally on the BSE, after reporting robust net profit growth for the quarter ended September 2013. The stock is currently trading at its highest level since August 2011.

Jain Irrigation Systems ended up 2.3% at Rs 73 after the company said it has bagged one of the country’s largest irrigation projects worth Rs 386 crore in Karnataka.

GMR Infrastructure ended up 2% at Rs 24.85 in otherwise subdued market after the company said it has agreed to sell its entire 40% stake in Istanbul Sabiha Gokcen International Airport for Euro 225 million (approx Rs 1,918 crore) to Malaysia Airports Holdings Berhard.

Piramal Enterprises ended down 1.2% after surging over 5% intra-day. The Foreign Investment Promotion Board (FIPB) approved Vodafone's proposal to buy out minority shareholders.

Apollo Tyres has rallied nearly 6% to end at Rs 107, after Cooper Tire & Rubber Company (CTB) has terminated the merger agreement with the company.

In the broader market, the BSE Mid-cap ended up 0.7% and the Small-cap index ended up 0.3%.

Market breadth was positive with 1,497 gainers and 1,060 losers on the BSE.

Photographs: Reuters

Source: source