The markets closed lower on the first day of the week with the negative global cues dragging it down further. Shares of infrastructure, telecom, metal, FMCG, cement, realty, technology and oil & gas exploration companies experienced sell off.
Comprising Rs 13,623.12 crore from NSE cash segment, Rs 45,810.47 crore from NSE F&O and the balance Rs 4,356.80 crore from BSE cash segment the total turnover stood at Rs 63,790.39 crore.
While Asian markets ended marginally mixed, the European markets at the time of closing Indian equities was trading lower.
Mkts slip, Losses in realty, metals, telecom
At 1:02 PM the Sensex was trading at 11,662, down 214 points and the Nifty declined 73 points, to 3,546. BSE Midcap and Smallcap indices fell over 2 per cent.
Due to the downtrend in capital goods, telecom, technology, realty, metal, power, FMCG stocks and in stocks like HDFC and Reliance Industries the benchmark indices were seen extending losses.
Buying was, however, seen in ONGC, ICICI Bank, Axis Bank, HDFC Bank and Maruti Suzuki.
The sectoral front seem to be on a decline with Realty Index slipping over 5 per cent; Capital Goods, Power and Metal indices declined by 2 per cent; and IT, Oil & Gas, FMCG and Auto falling by over 1 per cent.
In Realty, Unitech was down 8.81 per cent and DLF fell 4.87 per cent. Indiabulls Real, Parsvnath, Omaxe, Puravankara Projects, Mahindra Life and HDIL lost 4 to 4.8 per cent.
In the capital goods, Punj Lloyd, BHEL, Siemens, L&T and ABB declined 1.8 to 4.4 per cent.
In the metals, Tata Steel, SAIL, Hindustan Zinc, Jindal Steel and JSL lost 3 to 4 per cent.
In power stocks, GMR Infra, Reliance Power, Suzlon Energy, Reliance Infrastructure, Torrent Power, GVK Power, CESC and NTPC slipped 1 to 4.5 per cent.
In the telecom, Reliance Communication, Tata Communication, Idea Cellular and Bharti Airtel fell 2.3 to 3.8 per cent.
FMCG stocks like Tata Tea, United Breweries, HUL, United Spirits and ITC declined 1 to 4 per cent.
The loosers among the midcaps were Gammon Infra, IVRCL Infrastructure, India Cements, Dishman Pharma and Nagarjuna Construction while in the smallcaps it was Geodesic, Orbit Corporation, Mcleod Russel, Graphite India and Swaraj Engines falling by 6 to 8 per cent and 8 to 10 per cent respectively.
Sensex down 41 & Nifty down 17 pnts; Indices flat
At 11:07 AM the Sensex was trading at 11,834, down 41 points and the Nifty fell 19 points, to 3,600, at 11:07 and the benchmark indices quiet.
While banking stocks and ONGC were seeing buying pressure, Reliance Industries was amid volatility. Shares of FMCG, realty, telecom, technology, select capital goods companies and stocks like HDFC, Reliance Communication and SAIL were under pressure.
The ones active on the markets were ICICI Bank, Reliance Industries, SBI, Tata Steel and Educomp Solutions.
The gainers among the midcaps were AIA Engineering, KEC International, Petronet LNG, Educomp Solutions and Indiabulls Financial with a rise of 5.6 to 6 per cent. The losers were Godrej Industries, India Cements, Welspun Gujarat, Deccan Chronicle and Future Capital.
In the smallcaps the gainers were Indian Metals, BL Kashyap, Madhucon Projects, Resurgere Mines and Ramcoind with a raise of 9 to 17 per cent. Sulzer, Swaraj Engines, Hatsun Agro, Alembic and EIH Associcated Hotel lost declining by 6 to 9 per cent.
The market breadth was mixed. About 1420 shares advanced while 1513 shares declined and nearly 182 unchanged.
Markets bounce back ahead of LS poll results
Indian stock markets bounced back and were trading higher with some volatility ahead of the Lok Sabha election results on Saturday, May 16. Selling pressure were witnessed at the higher levels.
At 9:56 am, the Sensex was trading at 12,004, up 127 points and the Nifty was up 28 points, to 3,649. The CNX Midcap rose 44 points, to 4,101. Banking, telecom and infrastructure stocks were witnessing buying interest.
While Ranbaxy, Tata Steel were in red, ICICI Bank, SBI (post Q4 numbers), HDFC, Sterlite, ACC, Reliance Communication, Reliance Infrastructure, Reliance Capital, L&T, Axis Bank, Cairn, Idea, Suzlon, Hero Honda and Bharti were in green.