Nifty end marginally higher; RIL, L&T up
Mumbai, Aug 25: The Nifty closed marginally higher and continued its uptrend for the fourth consecutive session. Technology, pharma, power and heavyweights like Reliance Industries, L&T, Reliance Communication, Tata Motors and Grasim helped the index to close above 4650 level.
Equity benchmarks witnessed volatility throughout the session, because on the other side selling continued in heavyweight SBI, ONGC, Bharti, BHEL, SAIL and ICICI Bank.
Both indices started the trade on a weak note following negative Asian cues and as the day proceeded, the Sensex lost over 200 points due to 5.5 pc fall in China's Shanghai.
There were reports that China might raise fuel prices by 4-8 pc, as the current crude prices were around USD 74-75 a barrel. But immediately around 12 hours IST, as the Shanghai recovered, Indian indices also bounced back and traded marginally in the green with some volatility.
The
30-share
BSE
Sensex
ended
at
15,688.47,
up
59.72
points
or
0.38
pc
over
previous
close,
after
seeing
recovery
of
265
points
from
intraday
low
of
15,423.39.
The
50-share
NSE
Nifty
went
up
0.36
pc
or
16.55
points,
to
settle
at
4659.35;
it
recovered
nearly
77
points
from
day's
low
of
4582.50.
4:34
PM
Sensex trading marginally higher; Wipro, HUL gain
At 01:05 pm, the Sensex was trading marginally higher after seeing recovery of nearly 250 points from day's low of 15,423.39. The Nifty was also trying to trade above 4650 but they was some volatility seen due to two-way move.
On one side, buying in Reliance Industries, NTPC, Wipro, L&T, Reliance Communication, HCL Tech, TCS, Ranbaxy Labs, Tata Motors, HUL, HDFC Bank, Grasim, ITC, Sun Pharma, ABB and Siemens was supporting the markets.
However, on the other side, selling continued in ONGC, Bharti, BHEL, SBI, ICICI Bank, DLF, PNB, Idea, BPCL, Ambuja Cements and Hindalco. On the global front, European markets were down 0.5 pc each.
The Nifty rose 12 points, to 4,655 and the Sensex gained 42 points at 15,670. Among the broader indices, the BSE Smallcap Index went up over 1 pc while the Midcap Index was up just 0.3 pc. About 1,632 shares advanced while 1,180 shares declined on the BSE. Nearly 369 shares were unchanged.
In the midcap space, Dishman Pharma, Torrent Pharma, Rolta, ING Vysya Bank and Bajaj Finserv went up 5-11 pc while Bannariamman, EID Parry, Nagarjuna Construction, Bajaj Hindusthan and Coromandel Fertiliser fell 2-3 pc.
In
the
smallcap
space,
Suven
Life
Sciences
locked
at
20
pc
upper
circuit.
SpiceJet,
Selan
Exploration,
ABG
Infralogistics
and
CMC
gained
12.5-16
pc.
However,
JMD
Telefilms,
Austral
Coke,
Entegra,
Sagar
Cement
and
Hinduja
Global
declined
3.5-5
pc.
2:05
PM
Sanghai drop affects Sensex, ONGC, BHEL dip
A five per cent drop in China's Shanghai again, broke the three-day Sensex winning spell.
At 11:36 am, the Sensex fell 181 points, to 15,447 and the Nifty lost 52 points, to 4,590. The broader indices were flat. The market breadth was tad negative, 516 shares advanced while 654 shares declined on the NSE.
Banking, realty, metal, FMCG and private power companies' shares along with ONGC, Bharti, BHEL and Infosys faced a selling pressure.
There is a probability of China's fuel prices being raised to four to eight per cent with the current crude prices being around USD 74 to 75 per barrel.
However, Wipro, NTPC, HCL Tech, Ranbaxy Labs and Tata Motors gained.
In the banking sector SBI, ICICI Bank, HDFC Bank, Bank of Baroda, PNB and Axis Bank were down by 1to 2.2per cent. Realty stocks like HDIL, Unitech and DLF fell by 2 to 2.2 per cent.
Suven Life Sciences increased to 18 per cent while Lokesh Machines, Selan Exploration, Roman Tarmat, Premier, SE Investments and ABM Knowledg were up 12 to 16 per cent.
IP
Rings,
Grauer
and
Weil,
Sarup
Tanneries,
Hinduja
Global,
Balaji
Telefilm,
Supreme
Infra,
Cambridge
Solutions
and
Somany
Ceramics
lost
five
to
eight
per
cent.
12:42
PM
Mkts open weak; DLF, ONGC, ITC dip
The Sensex opened lower following weak Asian cues; especially due to 3.4 pc fall in Shanghai. Both the equity benchmarks were seeing some volatility; the Nifty tested the 4600 mark in the early trade and retraced. Metal and banking stocks were under pressure.
At 9:56 am, the Nifty fell 30 points, to 4,612 and the Sensex lost 106 points, to 15,522. About 361 shares advanced while 413 shares declined on the NSE. The CNX Midcap slipped 13 points, to 5,959 and the Nifty Junior fell 35 points, to 8,379.
Among the fronliners, Reliance Infrastructure, Tata Power, Sterlite, GAIL, ICICI Bank, Hero Honda, Hindalco, Axis Bank, SAIL, DLF, ONGC, Reliance Capital, Unitech, ITC, SBI, BHEL and M&M were the losers.
However,
HCL
Tech
jumped
7
pc
on
better-than-expected
numbers.
Power
Grid,
Tata
Motors,
NTPC,
HUL
and
Maurti
Suzuki
gained.
10:29
AM
OneIndia News