Mumbai, Mar 5: After opening above the 5100 mark, market erased the early gains. Nifty closed flat for the second consecutive day after witnessing consolidation throughout the session.
The Market was supported by buying in Telecom, cement, select power, pharma, banking stocks and DLF, Jindal Steel, Hero Honda & Infosys.
However, selling was seen the FMCG, select technology and PSU power companies shares along with Reliance Industries, BHEL, Tata Motors, SAIL, HDFC, Unitech and Ranbaxy Labs.
Sensex ended at 16994, up 22 points and the Nifty ended at 5088, up 8.5 points.
The most active shares on the bourses were ARSS Infra, Tata Motors, Suzlon Energy, Sesa Goa, Jubilant Foodworks and DLF
In the midcap space, Puravankara Projects gained 11.95pc, reportedly due inking of 50:50 JV with Mexico-based Homex (largest builder of affordable houses).
In the smallcap space, Sulzer India was locked at 20% upper circuit, following approval on delisting price of Rs 870/share while the share ended at Rs 1,243.65.
Gokul Refoils gained 15pc eClerx Services, Zenith Infotech and Rain Commodities shot up 8.75 to 10pc. However, ITD Cementation, Rollatainers, Gemini Comm, Kernex Micro and Savita Oil Tech dipped 4.6 to 7.4pc.
The Indian market held on to its previous closing values owing to positive global cues.
Asian markets were trading in green. Nikkei rose 2.2pc following reports on the Bank of Japan loosening monetary policy.
Hang Seng, Kospi and Taiwan Weighted gained 1pc each. Jakarta was up 0.51pc, Straits Times rose 0.78pc and Shanghai moved up 0.25pc. European markets were trading at 0.3 to 0.6pc higher while the US index futures were flat, at the time of closing of Indian equities.
Sensex erases early gains; auto, bank dip
Sensex erased its early gains of 100 points and was trading marginally flat. Realty, capital goods, pharma and FMCG stocks were witnessing buying interest. However, auto and banks stocks were experiencing selling.
At 12:25 PM, Sensex was up 22.36 points or 0.13pc at 16994.06, and the Nifty up 4.70 points or 0.09pc at 5084.95.
Tech major Infosys was down 0.05pc at Rs 2,622.00 from its previous close of Rs 2,623.40. Cigarette major ITC slipped 0.33pc at Rs 244.80 from its previous close of Rs 245.60. Refinery major HPCL was trading at Rs 339.30 down 0.12pc from its previous close of Rs 339.70.
Hindustan Lever was up 0.19pc at Rs 242.60 from its previous close of Rs 242.15. Index heavyweight Reliance was trading at Rs 1,012.00 slipped 0.17pc from its previous close of Rs 1,013.75.
Among the largecaps, Suzlon Energy held on as the top gainer with over 2.7pc gain. Bharti Airtel, Ambuja Cements, DLF and Jindal Steel moved up 2pc each. Tata Motors, Unitech, Axis Bank, SAIL and BHEL down 0.8 to 1.7pc were the losers.
Among the midcaps, top gainers were Pipavav Shipyard, Pidilite Industries, Blue Dart, Petronet LNG and Firstsource Solutions up 4 to 8pc, while on the losing side were Apollo Tyres, MRF, DeccanChronicle, Sintex India and Reliance Media down 1 to 2pc.
Among the smallcaps, the top gainers were Sulzer, Gokul Refoils, eClerx Services, Artson Engineering and Nalwa Sons up 6 to 20pc, while the ITD Cementation, Centrum Finance, Subhkam Capital, Shirpur Gold and Take Solutions down 3 to 7pc were the top losers.
Sensex touches 17k; Tata Motors, DLF shine
Nifty continue to trade at 5100 level after the days high when the market opened. ITC, Tata Motors, SAIL, Sun Pharma, Tata
Power and HUL were underperforming. Reliance Industries, HDFC Bank, HDFC and TCS trading flat.
Sensex held on the 17,000 mark supported by Telecom, capital goods, cement, realty, metal, select banking, power and oil & gas stocks.
At 11:19 AM, Sensex was trading at 17091, up 89 points and the Nifty was at 5108, up 28 points.
The report on Suzlon Energy US unit installing the 728 MW of Renewable Energy has helped the company to rally at 3.6pc. Among the other gainers were Bharti Airtel and Ambuja Cements with 3pc gains each.Jindal Steel was up 2.5pc and DLF surged 2pc.
Among the midcaps, gainers were Firstsource Solutions, Pipavav, Phoenix Mills, Blue Dart and Petronet LNG up 4 to 5pc.
However, Apollo Tyres, MRF, Carborundum, Marico and Pfizer down 1 to 1.76pc were on the losing side.
Among the smallcaps, Sulzer was locked at 20pc upper circuit. Gokul Refoils, eClerx Services and Artson Eng rose 11 to 15pc, S Kumars Nationwide moved up 6.79pc, while ITD Cementation, Centrum Finance, Indian Metals, Advani Hotels and Sahara One dipped 2.5 to 5.8pc.
The most active shares on the boursed were Tata Motors, ARSS Infra, Suzlon Energy, eClerx Services, Sesa Goa and DLF.
Nifty opens above 5100 mark; ICICI, Reliance up
Nifty opened above the 5100 mark supported by positive global cues. After consolidation the index turned green.
At 9:02 am, Nifty was trading at 5113, up 32 points and the Sensex was at 17083, up 112 points.
Among the frontliners, the gainers were DLF, Ranbaxy Labs, BPCL, GAIL, Cipla, Jaiprakash Associates, ICICI Bank, ONGC, SBI,
Reliance Industries, BHEL, Tata Steel, Wipro, HCL Tech and Cairn India, while ITC and HUL were losers.
In the Midcaps and Smallcaps:
After the board's approval on delisting price of Rs 870 while the stock was trading at Rs 1243.65, Sulzer India rallied
Himatsingka Seide moved up 5pc.
Gujarat NRE Coke surged 3pc and GMDC was up 2.5pc. However, Sesa Goa lost 0.7pc and NMDC slipped 0.8pc.
Mercator Line shot up 2.5pc and Mcleod Russel gained 1.8pc.
REC fell 2.8% and ARRS Infra lost 2.5% on profit booking.
Asian markets were trading higher except for Shanghai. The report of Japan loosening its monetary policy surged Nikkei up 2pc. Hang Seng, Straits Times, Kospi and Taiwan shot up 0.5 to 0.8pc. Jakarta was up 0.25pc while Shanghai dipped 0.25pc.