Cautious traders led the markets to witness consolidation and the benchmarks were generally weak in the trading session. This comes after a two day rally of 3.5 per cent.
The NSE Nifty ended the day at 5108.85, down just 0.18 per cent or 9.35 points. The BSE Sensex was down just 35.91 points or 0.21 per cent, to shut shop at 17,195.20.
The broader indices outperformed the benchmark indices with the BSE Midcap Index gaining 0.55 per cent and Smallcap rising 0.87 per cent.
4: 15 PM
Mkts dip; selling in IT, FMGC, banking continued
At 12:58 pm, Sensex was down 104 points, to 17,126 and the Nifty down 31 points to 5,087. However, the broader indices were trading up, gaining 0.5 per cent each.
Sensex was trading amid volatility while the Nifty struggled at 5,100 level. Selling continued in technology, FMCG, healthcare, oil marketing and select private banking stocks. Apart from this, Bharti Airtel, ONGC and L&T also plummeted.
Among the largecaps, TCS, Infosys, ITC, Bharti, Wipro, HUL, Axis Bank, Sun Pharma, Cipla, Nalco and BPCL lost 2 to 3 per cent. HDFC dipped 1.64 per cent. ONGC and L&T fell 0.6 per cent each.
However, buying in steel, power and PSU banking stocks supported the markets along with heavyweight Reliance Industries and BHEL which were marginally up.
NTPC, SBI, SAIL, Power Grid, Tata Power, Cairn and Idea Cellular gained 1-1.6 per cent. Jindal Steel shot up over 4 per cent and Suzlon Energy up 3.9 per cent.
Among the midcaps, EIH, Andrew Yule, Carborundum, Peninsula Land and Gujarat Gas were up 7 to 11 per cnet while Dish TV India, Motilal Oswal, HCC, Gammon India and M&M Financial lost 3 to 4 per cent.
In the smallcap arena, Transport Corporation, Cambridge Solutions, EIH Associated Hotel, Kewal Kiran and Numeric Power gained 8 to 13 per cent while Nalwa Sons Invest, Kanani Industries, Jindal Worldwid, KLG Systel and Ushdev Int slipped 5 per cent each.
2: 11 PM
Nifty volatile; IT, FMGC, Pharma dip
At 11: 41 am, the Sensex was down 18 points at 17,213 and the Nifty was down 8 points at 5,110.
Traders were cautious after the two day rally and the Nifty was trading amid volatility.
Technology, FMCG, pharma and oil marketing companies' shares were witnessing selling pressure. In stocks, ONGC, Bharti Airtel, L&T, Nalco and Grasim also dipped.
On the positive side, buying in realty, power, steel, PSU banking, select capital goods and telecom stocks continues. And Reliance Industries was also supportive to the markets.
Technology stocks continued to see selling pressure and Infosys, TCS and Wipro fell over 1 to 2 per cent while Tech Mahindra and HCL Tech declined 0.6 per cent each.
FMCG stocks like HUL, ITC and Colgate lost over 2 per cent.
In the healthcare space, Sun Pharma, Cipla, Dishman Pharma, Glenmark, Divis Labs, Dr Reddys Labs and Ranbaxy Labs slipped 0.5 to 3 per cent.
In the oil & gas arena, HPCL and BPCL dipped over 2.4 per cent.
IOC was down 1 per cent and ONGC down 0.28 per cent. However, Cairn India was up 1.66 per cent and Reliance Industries up 0.91 per cent.
Hindustan Zinc shot up 4 per cent among the metal stocks. Jindal Steel, SAIL, Jindal Saw, Sterlite Industries and Tata Steel were down 1 to 3 per cent.
In the banking space, Kotak Mahindra, PNB and SBI gained over 1 per cent. Bank of Baroda was up 0.46 per cent.
Power stocks like GMR Infra, Suzlon Energy, GVK Power, NHPC, Tata Power, Power Grid Corp, NTPC and Torrent Power were up 1 to 5 per cent.
12: 16 PM
Mkts open green; realty, banking, metal, power up
Positive global cues and buying in realty, metal, power and banking stocks help the Indian markets open the day on a positive note for the third session.
At 9:56 am, the Sensex was up 66 points at 17,300 and the Nifty was up 18 points at 5,136. The CNX Midcap was up 70 points to 7,067.
Cairn India up 2 per cent as Cairn Plc sold 2.3 per cent in Cairn India to Petronas at Rs 260/share.
Other gainers amng the frontliners were Hindalco, SAIL, Jindal Steel & Power, Reliance Infrastructure, SBI (hit Rs 2300 mark), NTPC, ABB, Power Grid, HDFC Bank, DLF and Unitech.
However, profit booking continued in ITC, HUL, Infosys, Cipla and Reliance Communication.
Among Midcaps, the gainers were GVK Power, GMR Infra, Praj Industries up over 1 per cent, PTC up 2.6 per cent, Subros and Alembic surged 5 per cent each, Balaji Telefilms up 4 per cent.
Parsvnath Developers, Bajaj Finserv, Motilal Oswal and Sonata Software were the other gainers post their earnings.
EIH shot up 10 per cent and JM Financial shot up another 8 per cent.
Euro Multivision in the new entrant at Rs 75 on the NSE.
The Dow Jones closed above 10k mark for the first time since Oct 2008, which contributed to the Indian markets opening in the green too.
10: 20 AM