Financial, metal, realty, auto and pharma companies' shares along with ITC and ONGC dragged the Nifty below 4950 level. Infosys, HCL Tech and Wipro from technology pack went up 0.7-1% while TCS was flat.In the capital goods , Siemens was up 2% and L&T up 1.4%. BHEL rose 0.56% and ABB gained just 0.16%.
Reliance was the buzz on the street today post Ambani brothers' patch up news. Experts believe this would be good opportunity for Reliance Industries.
Mkt fell but still remains positive
Mumbai May 24: AT 14:00 hrs The BSE sensex was trading at 16593, up 147 points and the Nifty was at 4975, up 44 points. The benchmark Nifty gave up some gains due to sell-off in HDFC, ONGC, ITC, GAIL, Sun Pharma, Maruti, Unitech, Power Grid, BPCL, Cipla and Tata Power.Fall in European markets from day's high also put some pressure on the markets.
However, the markets remained positive despite some pressure from global markets. Reliance group companies' shares were quite supportive specially after yesterday's May 23 patch up between brothers. Reliance Industries rose 3.5% and Reliance Industrial Infrastructure went up 13%. Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital were up 6-10%. RNRL gained 21%.
Adani Enterprises, Piramal Health, Reliance Industries, Reliance Natural Resources, Reliance Infra and Tata Motors were the most active partners in the markets.
Mkt up oil & gas, power, metal, auto sector shine
Mumbai, May 24 :At 12.07 hrs The BSE Sensex was up 269.72 points or 1.64% at 16715.33, and the Nifty was up 83.95 points or 1.70% at 5015.10.
All BSE sectoral indices were trading in green. Heavy buying was seen in oil & gas, power, metal, capital goods, auto, consumer durables and realty stocks.
Nifty was trading above the 5,000 level with positive bias. The markets opened on a buoyant note on the back both the Reliance camps calling for ceasefire on Sunday May 23. After hovering around 5,000 mark zone for quite sometime, Nifty finally crossed the figure since morning.
In the largecap space, Reliance Power and Reliance Infra were up more than 10%. Reliance Comm, Reliance Capital and Jaiprakash Associates were up 4-8%. HDFC, Sun Pharma, Power Grid Corp, ABB and Cipla were trading in red.
Index heavyweight Reliance was trading at Rs 1,033.15 up 3.76% from its previous close of Rs 995.75. Tech major Infosys was trading at Rs 2,618.40 up 1.25% from its previous close of Rs 2,586.15. Refinery major HPCL was trading at Rs 348.25 up 0.29% from its previous close of Rs 347.25.
Mkt opens in green, after Ambani brothers patch-up
Bombay, May 24: India's premier stock exchanges opened in green, on Monday May 24. At 10:10 hrs, BSE sensex was 16,671.86 up 226.25 points; NSE Nifty was 4999.85 up 68.70 points.
As the Ambany brothers buried the hatchet, the benchmark Nifty could start with a hit of 5K on Ambani brothers. Global cues
remained positive, while Reliance Industires rose 5 percent.
Anil Dhirubhai Ambani Group - Reliance Power went up 11.5 percent. Reliance Power, Reliance Capital, Reliance Infrastructure and Reliance Communications were up 5 to 7 percent. RNRL rose 30 percent.
CNX Midcap surged to 7700 or 118 points high. BSE smallcap surged to 8534, or 119 points up.
Around 667 shares advanced where as 79 declined on the NSE.
The gained side include Tata steel, Unitech, Tata Motors and Sterlite Industries. ICICI Bank rose 1.8 percent, while Bank of Rajasthan surged by 9 percent.
Sun Pharma, Bharti, HUL were on the plunged side.