Sensex closes at 16, 949; RIL slips 3pc

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Sensex opened flat; Reliance Power slip 4pc
Mumbai, Dec 7: Sensex closed at 16,949, down 151 points and the Nifty was down 52 points at 5,057k owing the 3pc decline by heavyweight Reliance industries .

Metal stocks failed to recover at the end of the day and witnessed a downturn along with oil & gas exploration, banking, realty, auto and select power stocks.

Crude oil was below USD 75 a barrel.

In the metal space, Gold was down 1pc and Silver slipped 2pc. Lead, Tin and Zinc fell 3pc, Copper and Aluminium were down 2pc each.

Sterlite Industries, Hindustan Zinc, Tata Steel, SAIL, Hindalco, NALCO and Jindal Steel were down 2.6 to 4pc.

Reliance communication which was among the gainers too declined to 1.7pc when the market closed following telecom ministry's statement on its audit report.
4:30 PM

RIL continues to lose; tech, telecom gain

At the 12.26 pm Sensex was at 17,111, up 10 points while Nifty continued to trade at 5,102, down 2 points.

Selling interest in metal stocks along with heavyweight Reliance Industries, NTPC, ITC, ICICI Bank and DLF continued to pressure on the market.

However the buying in telecom, technology and auto stocks along with SBI, BHEL and L&T capped the losses to a major extend.

In the technology space, Tech Mahindra, HCL Tech, TCS, Wipro and Infosys gained 1 to 1.8pc.

In the telecom space, Bharti Airtel gained 3.2pc, Reliance Communications was up 2.68pc while Tata Teleservices, Idea Cellular and MTNL gained 0.5 to 1.5pc each.

In the auto segment, Bajaj Auto, Tata Motors, Hero Honda, Ashok Leyland, M&M and Maruti Suzuki gained 0.10to 0.7pc respectively.

The steel segment was on lose as JSW Steel, Hindalco, Hindustan Zinc, Sterlite Industries, Tata Steel, SAIL, NALCO, Jindal Saw and Jindal Steel fell 1.3 to 3.6pc.

Among the BSE midcaps the top losers were Mcleod Russel, REI Six Ten, Godrej Inds, KGN Industries and Financial Tech down 2 to 5pc.

The top gainers in BSE smallcaps were Manaksia, Tata Elxsi, Geometric, Bhansali Engineering and Orient Abrasive with 8-20pc gain, while CandC Construction, Kanani Industries, Religare Techno, JSW Holdings and EIH Associated Hotel down 4-6pc were the top losers.
2:30 PM

Nifty trades below 5,100 level

After opening on a flat note, Nifty at 11.30 pm was trading at 5,089, down 20 points and Sensex was at at 17,036, down 65 points.

Metal stocks along with oil & gas exploration, select infrastructure and banking companies continued to be under pressure.

While selling interest in ITC and DLF contibuted to market pressure, the losses were capped to major extend by buying interest in heavyweightSBI, telecom and technology stocks.

Among the largecaps, Suzlon Energy gained 3.40pc, Bharti Airtel rose 2.31pc,while HCL Tech, Infosys and Ranbaxy Labs were up Reliance Communications, TCS and Tata Motors were over 1pc and 0.4 to 0.9pc respectively.

The top percentage gainers were Silver Smith, Umang Dairies, Manaksia and Hind Industries upped 20pc each. SMS Pharma, Maxwell Industries, Bhansali Eng and Cords Cable Industries rose 12.5 to 17.5pc.

However relaince ppwer continued its lost at 1 to 4pc along with Hindalco, Sterlite Industries, Tata Steel, DLF, Reliance Industries, and SAIL.

In the midcap space, the gainers were Sun Pharma Advanced, Cummins, Carborundum, CESC and HOEC with rise of 3.5to 6.5pc.

KGN Industries, Mcleod Russel, Lupin, Aban Offshore and Voltas with a lost of 2 to 4pc were the losers.

In the smallcap space, Geometric, Orient Abrasive and Tata Elxsi moved up 7.6 to 10 pc while C and C Construction, Sanghvi Movers, Zodiac Clothing, Religare Techno and Prime Securities slipped 4 to 7.5pc.
12.56 PM

Sensex opens flat; Reliance Power slips 4pc

Sensex opened on a flat note with a positive bias. Buying interest in technology stocks made it gainers while metal stocks were under pressure.

At 9:56 am,  Nifty rose 9 points at 5,117 and the Sensex gained 37 points at 17,138.

Largecap gainers were Tata Motors up 1.5pc,including Suzlon Energy, Maruti, Infosys, Bharti Airtel, Cipla, BPCL, ICICI Bank, TCS, Wipro and Bharti.

The cancellation of Dadri land allotted to ADAG resulted in Reliance Power losing 4pc and the company is said to looking fro other plots to set the power plant.

Sterlite Industries, Tata Steel and Hindalco too suffered lost.

Among the midcaps gainers were Manaksia up 17pc, Nelco rose 5pc and GHCL rose 3pc, Fortis Health went up 2pc and Mahindra Satyam was up 1.5pc.

GVK Power gained 3pc and upped its stake to 29pc after buying stake 17pc stake in BIAL from L&T for Rs 686 crore.

The midcap losers were Reliance world down 2pc and Aban Offshore slipped over 2.5pc

Asian Market showed a mixed trade. Nikkei and Taiwan Weighted rose 1 to 1.4pc while Straits Times and Kospi gained 0.4pc each. On the other hand, Hang Seng and Jakarta fell 0.6 to 0.7pc, Shanghai was down 0.2pc.
10.40 AM

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