Mumbai, Aug 12: The Sensex almost saw the U-shaped recovery in the last one hour of trade, though it closed marginally lower. Today's recovery was led by heavyweights Bharti Airtel, Tata Motors and DLF, which shot up 5.8 pc, 4.4 pc and 2.9 pc, respectively. The Index recovered 319 points from day's low of 14,701.05 and the Nifty 98 points from low of 4359.40.
The economic data announced by the government was much better-than estimates but the markets shrugged off due to fall in Asian markets. June IIP (index of industrial production) came in at 7.8 pc as against 5.4 pc year on year and 2.7 pc month on month.
On the sectoral front, telecom, realty, pharma, auto, cement and oil marketing companies' shares helped the equity benchmarks. However, selling continued in shares of metal, technology, oil & gas exploration, select banking and power companies.
The benchmark indices started the session on a lower note following weak global cues. As the day proceed, the indices slipped further, the Nifty traded below the 4400 mark and the Sensex below the 15,000 level for major part of the day on the back of 4.7 pc fall in Shanghai and 3 pc in Hang Seng.
The last one hour played a very important role for the markets as it showed smart recovery of over 300 points from day's low on the Sensex. About 0.5 pc gains in European markets also helped our indices to some extent. Bharti Airtel was the stunner for the recovery.
Mkts negative; Sensex down by 272 pts
At 12:06 PM, the Sensex continued its downtrend and shrugged off the IIP (Index of Industrial Production) numbers announced. The IIP numbers were way above the market's expectations. The June IIP came in at 7.8 pc versus 5.4 pc (YoY) and 2.7 pc (MoM). May IIP revised from 2.7 pc to 2.2 pc (Provisional data).
The Sensex was down 272 points, to 14,799 and the Nifty fell 82 points, to 4,388. The broader indices slipped lost 1.3 pc each. About 884 shares advanced while 1828 shares declined on the BSE. Nearly 465 shares were unchanged.
Only two stocks namely Bharti and Sun Pharma were in the green on the Sensex. ONGC, TCS, Reliance Industries, Infosys Tech, SBI, ICICI Bank, L&T and ITC were negative contributors on the bourses.
Top losers - TCS, Tata Steel, Hindalco, Tata Power, Sterlite Industries and HCL Tech were down 4-5 pc. Top percentage gainers - Ken Financial, Natco Pharma, LT Foods, FCS Software, Rasi Electrodes, Kohinoor Foods and Uniphos Enterprises gained 9-17 pc.
Nifty trading lower; tech, banks dip
At 11:11 AM , the Nifty was trading lower on the back of selling in shares of technology, power, capital goods, oil & gas exploration, banking, auto and metal stocks. In the Asian markets, Chinese Shanghai fell 2.8 pc.
However, it was still holding the 4400 mark as buying in shares of pharma and oil marketing companies along with Bharti, ITC and Ambuja Cements capped the losses to some extent.
The Sensex was down 274 points, to 14,804 and the Nifty fell 77 points, to 4,393. Only four stocks namely Sun Pharma, Bharti, ITC and Grasim were in the green on the Sensex. The broader indices were down 0.5-1 pc. About 1,079 shares advanced while 1,613 shares declined on the BSE. Nearly 485 shares were unchanged.
Newly listed Raj Oil Mills was trading at its issue price of Rs 120 a share.
In the Midcap space, Pantaloon Retail, Thomas Cook, Torrent Pharma, Indian Hotels and IBN18 Broadcast gained 3.8-8.7%. However, Rei Agro, Bharat Forge, Dishman Pharma, M&M Financial and Gammon Infra fell 3-5 pc.
In the smallcap space, Zydus Wellness, Natco Pharma, Elantas Beck, Kohinoor Foods and Forbes Gokak gained 9-11%. However, Hatsun Agro, Suraj Stainless, Techno Electric and Oscar Investment fell 7-12 pc.
Sensex trading lower; power, metal dip
The Sensex opened lower following the weak global cues and in line with SGX Nifty fall of 1.5 pc. Power, banking, auto, metal and select technology stocks were under pressure. However, pharma stocks continued to be in the limelight.
At 9:57 am, the Nifty fell 42 points, to 4,429 and the Sensex lost 139 points, to 14,934. The Nifty August futures fell 6 points. Among the broader indices, the CNX Midcap fell 39 points, to 5,708 and the BSE Smallcap Index lost 27 points, to 6,078. About 157 shares advanced while 554 shares declined on the NSE.
Among the frontliners, M&M, PNB, Reliance Power, Suzlon Energy, TCS, Cairn, Sterlite Industries, Maruti Suzuki, Hindalco, ICICI Bank and Tata Motors were the losers.
However, Sun Pharma (jumped 3 pc, as it got US FDA nod for generic Imitrex & Eloxatin), Ranbaxy Labs (was up 2 pc, as the company can provide close to 1 million Oseltamivir Capsules), Cipla and BPCL were the gainers.
New listing - Raj Oil Mills opened at Rs 125 as against issue price of Rs 120 a share. Midcap space eClerx Services shot up 10 pc. Natco Pharma was up 3 pc and Strides Arcolab up 2 pc. Balrampur Chini was up just 0.4 pc.
However, DCB, IDFC, JP Hydro, NDTV, Punj Lloyd, Aban Offshore, JP Associates and Indiabulls Real Estate were down 2-4 pc.