Through out the session, metal, select financial and auto stocks helped the markets to recover in late trade while power, telecom, select oil and technology stocks remained under pressure while technology and fertiliser shares bucked the trend among the midcaps and smallcaps.
Compared to the last session the volumes were higher and the total turnover stood at Rs 98,750.05 versus the Rs 91,474.41 crore the markets saw on Monday, Jun 1.
Following a strong rally for four session, the benchmarks ended on a flat note. Even though the markets did not sustain their gains, the earlier losses were recovered in the last half hour of the trade.
Mkts extend losses; NTPC, Reliance Infra, PNB slip
At 1:04 PM, Sensex dipped 211 points, to 14,629 and the Nifty fell 71 points, to 4,459.BSE Midcap and Smallcap indices lost 1 per cent each. Cancelling Monday, Ju 1 gains, the markets have extended losses. Oil and gas, power, capital goods and banking stocks along with SAIL and DLF saw profit booking.
Going down by 3 to 7 per cent, Ranbaxy Labs, Reliance Infrastructure, Jaiprakash Associates, NTPC, HDFC Bank, Suzlon Energy, PNB and Axis Bank proved to be top losers.
Those active on the bourses were Essar Oil, Satyam, Unitech, DLF, HDIL, ICICI Bank and Reliance Industries.
In banking arena, Kotak Mahindra, Axis Bank, PNB, HDFC Bank, SBI and ICICI Bank fell 1.7 to 4.9 per cent. Among the oil & gas stocks, the losers were HPCL, IOC, Reliance Industries, Reliance Petroleum, BPCL and ONGC.
Suzlon Energy, Siemens, Punj Lloyd and ABB were down 1 to 4 per cent. BHEL and L&T declined in the capital goods group. In the power space, GVK Power, Reliance Infrastructure, Tata Power, Torrent Power, Reliance Power, Areva T&D, NTPC and GMR Infra slipped 2.5 to 5.5 per cent.
Mkts volatile; benchmarks, broader indices dip
At 11:30 AM Sensex fell 78 points, to 14,761 and the Nifty declined 33 points, to 4,496. Broader indices - the BSE Midcap and Smallcap indices dipped about 0.6 per cent.
The markets were witnessing selling pressure due to downtrend in power (except Tata Power), oil and gas, selecting banking, technology, capital goods and telecom stocks. The markets were volatile. However, Hero Honda, HDFC, ICICI Bank, HDFC, TCS, Sterlite, Tata Steel, Ambuja Cements, L&T and Tata Motors saw buying interest.
Frontliners under pressure were Reliance Industries, NTPC, SBI, HDFC Bank, SAIL, Reliance Infrastructure, Idea, BPCL, Wipro, Ranbaxy, ACC and Siemens.
Essar Oil, Satyam, Unitech, HDIL, Suzlon Energy and Reliance Industries were most active shares in the trading.
Gaining 7.4 to 13.6 per cent, Havells India, MindTree, IFCI, Hotel Leela and Tech Mahindra proved to be the gainers on the midcap front. Losers in the midcaps were Indiabulls Real, IndusInd Bank, India Infoline, PTC India and Kirloskar Oil dipping 5 to 6 per cent.
While Sasken Communication, Agro Tech Foods, Cosmo Films, Swaraj Engines and Bajaj Auto Finance surged 10 to 13 per cent in the smallcaps. Down by 6 to 7.8 per cent the losers on smallcap front were Saras Industries, Sahara One, KSB Pumps, Mahindra Forgings and Arvind.
Mkts open in green; ITC, Axis Bank, ICICI gain
The markets opened the session in the green on the back of positive global cues. At 9:56 AM, the Sensex was up 90 points, to 14,931 and the Nifty rose 24 points, to 4,554. The CNX Midcap went up 65 points, to 5,551 and the BSE Smallcap Index gained 1.8% at 6,310.
Opening on positive note, despite experiencing selling pressure; markets gained support from Infrastructure, metals and select financials.
The gainers among the frontliners were ICICI Bank, M&M, Unitech, ITC, Ambuja Cements, L&T, Suzlon Energy, Nalco, Sterlite, SAIL, Hindalco, Axis Bank, Reliance Capital, BHEL, HDFC, HUL and Cairn.
ACC, Grasim, HCL Tech, ONGC, SBI and Bharti were under pressure.
The gainers in the midcap front were Fertiliser stocks like RCF, Deepak Fertilisers, Nagarjuna Fertilisers and Chambal Fertilisers surging 3 to 6 per cent; along with Indian Hotels, NIIT, Satyam, Escorts, Opto Circuits and Gujarat NRE Coke which went up over 4 per cent.
CNBC TV 18 reports that 3 cr shares of Essar Oil changed hands on BSE at Rs 174 a share and Matterhorn Ventures is likely seller in Essar Oil block deal.