Market Outlook

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After a highly choppy ride, the market ended lower on Wednesday with investors indulging in another round of profit taking amid weak cues from European bourses.

Though Asian markets ended on a mixed note today, the undertone was highly cautious.

Quarterly results and stock specific stories provided the direction to the market.

The Sensex ended at 20,870 (provisional) with a loss of 62 points.

The Nifty closed at 6275.45, down 26.10 points.
FMCG, bank, capital goods, power and metal stocks declined.

Consumer durables, automobile and IT stocks found reasonably good support.

Pharma, realty and oil stocks ended on a subdued note.

Midcaps pared some gains. Smallcap stocks had a good outing.

The market breadth was positive once again.

Ambuja Cements, Bharti Airtel, Ranbaxy, IDFC, Cipla, Bajaj Auto, BHEL, SBI and PNB ended sharply lower.

Power Grid, Sterlite, ACC, Hindalco, HUL and Kotak Bank also ended with notable losses.

Tata Motors gained around 2.5% on strong results. M&M moved up by over 3%.

BPCL, RPower, Wipro, Suzlon, Reliance Infra, JP Associates, ONGC and Infosys also closed on a firm note.