India Market Wrap - August 20, 2013 - Standard Chartered Securities

In early trade, key benchmark indices edged lower triggered by the Indian rupee (INR) plunging to record low against the US dollar. Weakness in Asian stocks also dampened sentiment.

- Trimmed losses after an initial sharp slide triggered by continued expectations that the US Federal Reserve will start withdrawing its monetary stimulus soon to US economy.

- Intraday recovery witnessed earlier in the day gathered steam in midmorning trade.

- Weakened once again after paring almost entire intraday losses to hit fresh intraday high in early afternoon trade.

- Sensex ended lower by 61 points and Nifty closed 13 points in the red.

- Small Cap Index outperformed relative to the Sensex. Mid-Cap Index fell 0.4% and Small-Cap Index ended 0.2% higher.

- Market breadth: Positive. Advances were 1.1 times Declines.

Source : Equity Bulls

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