Markets end lower; IT, oil & gas dip
Mumbai, Jun 11:The benchmark indices ended the session marginally lower. The sell-off in oil & gas, technology, realty, cement, private power counters and in stocks like BHEL, SBI and HUL kept the Nifty below the 4650 level. While, telecom (barring Reliance Communication) and metal stocks, NTPC and HDFC Bank helped the benchmark indices.
The
30-share
BSE
Sensex
closed
at
15,411.47,
down
55.34
points,
after
seeing
a
swing
of
328
points
between
an
intraday
high
of
15,568.74
and
low
of
15,240.73.
The
50-share
NSE
Nifty
slipped
below
the
4600
mark
during
the
day.
It
witnessed
a
swing
of
93.4
points
between
day's
high/low
of
4679.55
and
4586.15,
before
closing
at
4637.70,
down
17.55
points.
4:38
PM
Mkts continue -ve; Midcap Index in red
At 01:52 pm the markets were trading marginally lower. Buying was seen in telecom, metal and in stocks like NTPC, HDFC Bank, M&M, Tata Motors, ITC, Ranbaxy and Power Grid.
The Sensex was trading at 15,356, down 110 points and the Nifty declined 24 points, to 4,631. In the broader space, the BSE Midcap Index was flat and the Smallcap Index fell 1 pc.
On the sectoral front, the Metal Index rose 2 pc. Auto and FMCG indices gained 0.5 to 0.8 pc. However, the IT Index tumbled 3.8 pc. Oil & Gas, Capital Goods and Power indices fell 1 to 1.6 pc. TECk, Bank and Realty indices lost 0.5 to 0.8 pc.
In
the
largecaps,
Reliance
Industries,
L&T,
Infosys,
ICICI
Bank,
ONGC,
BHEL
and
SBI
dragged
the
indices,
fell
1-4.5
pc.
However,
Bharti,
HDFC
Bank,
ITC,
NTPC,
Tata
Steel,
Idea
and
Reliance
Power
were
helping,
gained
1-7
pc.
2:39
PM
Mkts -ve; Infy, HCL, Wipro dips
At 11:50 am, the benchmark indices were volatile in trade. The Nifty was holding the 4650 level while the Sensex was hovering around the 15500 level. The market breadth was negative as the broader indices were quiet in trade.
Telecom, pharma, metal stocks and individual stocks like NTPC, HDFC Bank, ITC, L&T, ICICI Bank, Tata Motors and M&M were witnessing buying interest. However, downtrend in oil & gas, technology, select cement and power stocks was putting pressure on the markets.
The 50-share NSE Nifty rose just 3 points, to 4,658 and the Sensex was up 0.8 points, to 15,467. Among the broader indices, the BSE Midcap Index was up 0.5 pc and the Smallcap was flat. About 1137 shares advanced while 1643 shares declined on the BSE. Nearly 363 shares were unchanged.
In the telecom space, Idea Cellular, Tata Communication, Tata Teleservices and Bharti Airtel were up 3 to 8 pc. Reliance Communication and MTNL gained 0.8 to1.43 pc.
However,
in
the
technology
pack,
Infosys
fell
2.79
pc
and
Wipro
was
down
1.90
pc.
HCL
Tech
fell
1.66
pc
and
TCS
was
flat.
In
the
oil
&
gas
space,
BPCL,
HPCL,
ONGC,
GAIL,
IOC
and
Reliance
Petroleum
declined
1
to
4.5
pc.
Reliance
Industries
lost
0.5
pc.
12:36
PM
Markets open choppy; volatile trading
Though opened on a positive note, markets soon turned volatile and choppy. The Nifty was holding the 4600 mark. At 9:56 am, the Nifty was down 13 points, to 4,642 and the Sensex fell 66 points, to 15,400. The CNX Midcap lost 17 points, to 5,657.
The major losers of the opening trade were ONGC, Reliance Industries, DLF, Unitech, Wipro, Infosys, BHEL, ICICI Bank, HUL, BPCL, Tata Power and Suzlon Energy. However, NTPC, Ranbaxy, Reliance Communication, Reliance Power and Ambuja Cements were the gainers.
Meanwhile
the
Asian
markets
were
flat
with
positive
bias.
The
US
markets
ended
flat
amid
choppy
trade
on
worries
that
rising
interest
rates
could
put
pressure
on
consumer
and
business
spending.
10:35
AM
OneIndia News