Nifty ends below 5k mark; telecom, oil & gas dip

Subscribe to Oneindia News

Sensex, Nifty: Market Updates
Mumbai, Jun 8: After a marginally positive trade throughout the day, Nifty and Sensex ended the day in red.

Nifty, which opened the day on flat note on positive Asian cues, held on to the 5050 mark but ended the day below the psychological 5000 mark. Sensex also ended down by 164 points.

The 30-share BSE Sensex shut shop at 16,617.10, down 163.97 points or 0.98 per cent and the 50-share NSE Nifty shed 46.90 points or 0.93 per cent to close at 4987.10.

Selling pressure weighed on telecom, metal, realty, oil & gas, technology, auto, select financials and power companies' shares.

The only gainers were HDFC, ITC, Tata Power, Axis Bank, Siemens, BHEL, NTPC, Cipla, HUL and PNB.

The broader indices also declined 0.55 per cent each.
4:36 PM

Nifty consolidates; pharma, auto, FMGC gain

After the previous session's sell-off, Nifty was gaining support from short covering. The benchmark is currently consolidating at the same level with a positive bias.

At 12:00 pm, BSE Sensex was at 16,817.86, up 36.79 points while NSE Nifty was at 5045.35, up 11.35
points.

Buying was seen in financials (barring ICICI Bank), FMCG, capital goods, select power, pharma, auto and metal companies' shares, while ONGC, BPCL, ICICI Bank, Wipro, Reliance Power, Hero Honda, Hindalco, HCL Tech, Unitech and Power Grid lost. Telecom companies' shares were also under pressure.

The broader indices were outperforming the benchmarks as the BSE Midcap and Smallcap indices rose about 0.9 per cent each.

While Asian markets closed marginally higher, the European markets were trading flat. After a day of southbound journey, the Indian markets gained support from the Asian markets in the opening trade.
2:07 PM

Nifty holds 5050 mark on +ve Asian cues

Riding on positive Asian cues, Nifty is holding on to the 5050 mark. Sensex is also on a northbound trade amid volatility.

At 12: 10 pm, BSE Sensex was trading at 16,847.57, up 66.50 points and NSE Nifty was at 5058.30, up 24.30 points.

Nifty was also recieving support from metal, FMCG, auto, financial, capital goods and power companies' shares along with heavyweight Reliance Industries.

However, the losers on Nifty were ONGC, Infosys, Bharti, BPCL, Reliance Communications, Sun Pharma, ABB, Unitech and HCL Tech.

Among the top gainers are Tata Motors up 2.27 per cent; Axis Bank up 2.23 per cent; IDFC up 2.16 per cent; HDFC up 2.02 per cent; Reliance Capital up 1.90 per cent; Jindal Steel up 1.80 per cent; SBI up 1.79 per cent and Maruti Suzuki up 1.48 per cent.
12: 15 PM

Benchmarks open flat; oil & gas cos dip

After reeling under the effects of weak global cues, including the Eurozone debt concerns and the disappointing US jobs data, on Monday, Jun 8, the benchmarks have opened the day on a flat note.

At 9:02 am, NSE Nifty was trading at 5054, up 20 points and BSE Sensex was at 16847, up 66 points while CNX Midcap rose 41 points to 7826.

While the Empowered Group of Ministers (EGoM) deferring the decision on oil pricing, PSU oil & gas stocks came under heavy selling pressure.

Oil India was down 1.8 per cent, ONGC and GAIL slipped 1 per cent. Oil marketing companies like BPCL, IOC and HPCL fell 2.7 to 3 per cent.

Among the other early losers were ICICI Bank, HDFC Bank, Wipro and Infosys.

On the positive side, Idea Cellular, Reliance Communications, Tata Motors, HCL Tech, SBI, Jaiprakash Associates, Tata Steel, Hindalco, Sterlite Industries, Bharti Airtel, HUL, BHEL, DLF and IDFC were witnessing buying interest.

Ahead of the announcement of Zain deal closure expected on Tuesday, Jun 8, Bharti Airtel surged 1 per cent in the opening trade.

Among the midcaps and smallcaps, Andhra Bank went up 3.4 per cent, Syndicate Bank, Karnataka Bank and Lakshmi Vilas Bank were up 1.5 to 3 per cent, Glenmark Pharma was up 3.8 per cent, Pipavav Shipyard rose 1 per cent and Rallies India surged 5 per cent.

However, Essar Oil was down 1 per cent, REI Agro slipped 1 per cent and Mastek plunged 3.5 per cent.
9: 34 AM

OneIndia News

Please Wait while comments are loading...