Benchmarks end in red; IT metal, auto dip
Mumbai, Jun 22: Markets reeled under selling pressure, profit booking and consolidation leading to the benchmarks ending the day in the red. While Sensex tanked over 120 points, Nifty retreated 30 points but still held on to the psychological 5300 mark.
BSE Sensex shut shop at 17,749.69, down 126.86 points and NSE Nifty closed at 5316.55, down 36.75.
Sell off was seen in technology, metal, capital goods, oil & gas exploration, auto, financial, select power and telecom companies
The
losses
were,
however,
limited
by
the
gains
in
ITC,
BPCL,
HUL,
Ranbaxy,
Unitech,
Idea,
Sun
Pharma,
Tata
Power,
Ambuja
Cements,
ABB
and
Siemens.
4:
29
PM
Sensex on recovery; FMGC, oil, pharma up
Riding on the bounce back of index heavyweight Reliance Industries and the positive vibes from FMCG, realty, oil marketing and pharma companies' shares, Sensex showed recovery in the afternoon session.
At 2: 20 pm, BSE Sensex was at 17,810.68, down 65.87 points and NSE was at 5339.55, down 13.75 points.
The markets were under pressure from technology, metal, financial, capital goods, auto and select power companies' shares.
On the news of EGoM Jun 25 meeting on fuel pricing, Oil marketing companies like HPCL, BPCL and IOC surged 3.7 to 5 per cent.
Sterlite Tech, Emami, Gee Kay Finance, Essar Shipping and Dishman Pharma were the midcap gainers, up 4 to 8 per cent while Kwality Dairy, Pipavav, DB Corp, Yes Bank and HCL Info slipped 2 to 5 per cemt.
In
the
smallcap
arena,
GRUH
Finance,
OCL
Iron,
Tilaknagar
Industries,
VIP
Industries
and
Hindustan
Motors
rose
6.5
to
11
per
cent.
However,
DCM
Shriram
Inds,
Hatsun
Agro,
Amtek
India,
LGS
Global
and
Elpro
Int
dipped
3.5
to
5
per
cent.
2:
25
PM
Sensex
tanks
137
pts;
Tata
Power,
Siemens
dip
After
Monday,
Jun
21
rally
on
China's
Yuan
move,
the
Asian
equities
dipped
wighing
down
the
Indian
markets
too.
While
Sensex
tanked
over
100
points,
Nifty
continued
trading
in
red
after
a
weak
opening
losing
over
30
points.
At 11: 50 am, BSE Sensex was at 17,738.87, down 137.68 points and NSE Nifty shed 36.55 points to trade at 5316.75.
Markets were under pressure from technology, metal and select infrastructure companies' shares along with heavyweights Reliance Industries and SBI. Among the other losers were Kotak Mahindra Bank, ICICI Bank, Axis Bank, Tata Power, BPCL, M&M, ABB, Hero Honda and Siemens.
Sterlite Industries down 2.08 per cent; Hindalco down 1.86 per cent; Tata Motors down 1.66 per cent; Tata Steel down 1.56 per cent; Jaiprakash Associates down 1.5 per cent and Jindal Steel down 1.46 per cent were top losers.
However, the losses were limited by the buying in FMCG, select healthcare and telecom.
The
top
gainers
were
Ranbaxy
Labs
up
1.79
per
cent;
Kotak
Mahindra
up
1.29
per
cent;
HUL
up
1
per
cent;
Reliance
Communications
up
0.94
per
cent;
Idea
Cellular
up
0.93
per
cent;
M&M
up
0.40
per
cent
and
HDFC
up
0.13
per
cent.
11:
58
AM
Mkts open weak; metal, IT stocks under pressure
After the rally inspired by China's announcement on Yuan rate, Nifty dipped on the opening bell.
At 9:02 am, BSE Sensex was trading at 17791, down 84 points and NSE Nifty was at 5330, down 23 points. The CNX Midcap slipped 21 points to 8057. BSE Smallcap rose 12 points at 8965.
Metal, financial, select infrastructure and technology stocks were under pressure. Selling pressure was also seen in Sterlite Industries, SAIL, Hindalco, Tata Steel, Reliance Communications, HCL Tech, Unitech, Infosys, Jaiprakash Associates, IDFC, Suzlon, Reliance Infrastructure, ICICI Bank, Reliance Capital and Kotak Mahindra Bank.
The only gainers were Sun Pharma, Ranbaxy Labs, Idea Cellular and BPCL.
Among the midcaps and smallcaps, Rabo Bank slipped 5 per cent after it sold 11 per cent stake in Yes Bank via block deal. Vishal Retail dipped 4 per cent. Sesa Goa was down 2.5 per cent and HDIL down 1.5 per cent.
On
the
positive
side,
Hindustan
Motors
went
up
7
per
cent.
VIP
gained
3.5
per
cent.
IndusInd
Bank
was
up
2.5
per
cent
and
Star
Paper
rose
2
per
cent.
9:
37
AM
OneIndia News