Due to the selling in capital goods, auto, metal and realty stocks the markets put up a poor show. Negative cues from global markets also put more pressure on the markets. This led to the Sensex and Nifty ending below 15000 and 4500 levels.
However, the markets recovered marginnally due to buying in power (with the exception of Tata Power), financials and cement stocks.
Mkts extend losses; IT, Auto, Oil & Gas slip
With Reliance Industries, Reliance Petroleum, along with Bharti, Infosys and ICICI Bank coming under pressure the markets extended losses, Selling pressure was seen in metals, capital goods ad auto sectors.
At 12: 49 PM, Nifty slipped below 4550 and was down 51 points, to 4,532 and Sensex lost 245 points, to 14,993. BSE Midcap and Smallcap indices fell 1 per cent each.
Among the sectors, Oil & Gas Index slipped 3.7 per cent. Metal; Auto and Capital Goods indices fell 2 to 2.7 per cent; TECk, IT, Power and Healthcare indices slipped just 0.6 to 0.9 per cent. However, FMCG and Bank indices went up 0.5 per cent each.
In the largecaps, Sterlite, Reliance Industries, Tata Power, Tata Motors, Tata Steel and Reliance Petroleum plunged 3 to 7 per cent. Reliance Infrastructure, NTPC, ONGC, Ranbaxy Labs, TCS, Reliance Power, Axis Bank and Cipla surged 2 to 6 per cent.
Among the midcaps, UTV Software, Engineers India, Jai Corp, Emami and Bayer Cropscience gained 4-7% while IBN18 Broadcast, GSPL, Kirloskar Brothers, IVRCL Infrastructure and Bajaj Hindusthan dipped 5 to 7 per cent.
Among the small caps, Stride Arcolab, Ruchi Soya, BASF, Jyothy Labs and Panoramic Universal gained 6 to 9 per cent while Ugar Sugar Work, Ankur Drugs, Man Industries, Andhra Cement and Electrotherm fell 6 to 10 per cent.
The top gainers were RNRL which went up 20.33 per cent and Insecticides, Gulshan Poly, Todays Writing and Voith Paper which surged 10 to 11 per cent.
European markets opened weak which is another factor that is affecting the Indian Markets.
Mkts recover on back of banking, realty, cements
At 11:02 am, the Sensex was trading at 15,236, down just 1 point while the Nifty rose 4 points, to 4,587. The broader indices were flat.
The markets seemed to recover from the opening's low and is now trading with volatility. The markets are riding on the back of Banking, realty, cement and select power stocks along with ONGC.
However, the gains were capped by Reliance Industries, Sterlite, Bharti, NTPC, Tata Power, L&T, Sun Pharma, Tata Steel, SAIL, BHEL, M&M, Hero Honda, Maruti and Siemens.
With the Mumbai High Court ruling in the favour of RNRL in the RNRL-RIL gas case; RNRL surged 22 per cent and Reliance Power went up 4 per cent.
Mkts open in red; RIL, ICICI, L&T, M&M lose
The markets opened in the red amidst weak Asian cues. Profit booking has also adversely affected the markets. Metal, telecom, realty, capital goods and auto stocks were witnessing pressure.
At 9:56 am, NSE Nifty fell 45 points, to 4,537 and BSE Sensex dipped 170 points, to 15,067. The CNX Midcap and BSE Smallcap indices declined 0.79 per cent each, to 5,509 and 5,966, respectively.
The gainers among the frontliners were Suzlon, TCS, Reliance Power, Ambuja Cements, Infosys, BPCL and ACC; while Sterlite, Cairn, DLF, Hindalco, ABB, Tata Steel, Reliance Infrastructure, Reliance Industries, L&T, M&M, Tata Motors and ICICI Bank lost.
In the Midcap arena, Bata India gained 7 per cent. Tea stocks like Mcleod Russel and Harrisons Malyalam surged over 4 per cent. And Indian Hotels went up by 3 per cent, as the company is going to buy stake in Elel Hotels for Rs 680 cr.
However, the losers were Satyam which went down 1 per cent, Aban Offshore slipping 2.5 per cent, JP Hydro, GVK Power and GMR Infrastructure were down 2 to 4 per cent.