Mumbai, Nov 16: The Nifty closed above 5,050 level and Sensex ended above the 17,000 mark for the second straight day led by buying in technology, metal, banking and select infrastructure stocks.
The 30-share BSE Sensex closed at 17,050.65, up 18.14 points and the Nifty shut shop at 5062.25, up 4.2 points. Both indices recovered 167 points and 52 points, respectively. The broader indices were also flat.
The benchmark indices started the day on a choppy note but sell-off in oil & gas, telecom and realty kept the markets lower for major part of the session.
Weak Asian and European markets also weighted on the Indian indices. Asian markets ended lower; Nikkei, Straits Times, Kospi and Taiwan Weighted fell 0.4-0.8 pc. Hang Seng declined just 0.13 pc while Shanghai and Jakarta gained 0.2 pc each.
Sensex trading weak; Nifty down by 45pts
At 12:14 pm, the Sensex was trading weak post Reliance Industries AGM. The Nifty lost another 25 points post Mukesh Ambani's speech.
The Sensex was down 102.15 points or 0.60 pc at 16930.36, and the Nifty down 44.55 points or 0.88 pc at 5013.50. About 1260 shares advanced, 1595 shares declined, and 574 shares were unchanged.
In the largecap space, Hero Honda topped the gainers list with 3.09 pc gain. IT majors TCS, Wipro and Infosys advanced around 2 pc each. In metal space, Hindalco Industries was up 1.19 pc.
On the losing side, DLF was down close to 3 pc. Mahindra and Mahindra, Tata Motors, ONGC and ICICI Bank were down 1.6-1.8 pc.
Sensex trading lower; SBI, DLF dip
At 10:58 am, the Nifty was hovering around the 5,050 level. Shares of oil & gas, banking, realty, capital goods and power companies were seeing selling pressure while technology, metal, auto and select telecom stocks were witnessing buying interest.
The Sensex was down 21 points at 17,011 and the Nifty fell 9 points to 5,048. The market breadth was positive; about 712 shares advanced while 458 shares declined on the NSE.
Metal stocks like JSW Steel, Sesa Goa, Jindal Saw, Hindalco, Jindal Steel, SAIL, Sterlite Industries and Tata Steel were up 0.7-2 pc.
Infosys, TCS, Tech Mahindra and Wipro gained 1.4-1.6 pc in the technology space. HCL Tech was up 0.72 pc.
ICICI Bank, SBI, Kotak Mahindra and Axis Bank were down 0.9-1.3 pc in the oil & gas pack. HDFC Bank, Bank of Baroda and PNB went down 0.3-0.6 pc.
Oil & gas stocks like ONGC, BPCL and GAIL slipped 1 pc each. Reliance Industries was down 0.28 pc.
Sensex choppy in early trade; banks, realty dip
The Sensex started the day mildly on a positive note and was trading in a narrow range, around previous closing values. Banking, realty and select oil & gas stocks were under pressure while metals were gainers.
At 9:56 am, the Nifty fell 10 points to 5,047 and the Sensex declined just 32 points to 17,001. The broader indices were also flat, as about 422 shares advanced while 310 shares declined on the NSE.
Among the frontliners, ONGC, SBI, ICICI Bank, Unitech, Suzlon Energy, DLF, HCL Tech, Reliance Industries, Idea Cellular and Reliance Capital were seeing selling pressure.
However, Jaiprakash Associates gained 1.7 pc. Infosys, Siemens, Cipla, Ambuja Cements, Tata Steel, Sterlite Industries, SAIL and Jindal Steel & Power were the gainers in the early trade.
Asian markets were trading weak. Hang Seng, Nikkei, Taiwan Weighted, Kospi and Straits Times declined marginally. Shanghai and Jakarta were flat.