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.
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.
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
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