Markets lose steam in intra-noon trading

Mumbai, June 5: The stock markets today lost steam in the volatile trading after opening in green, largely on account of indifferent trading where the buyers applied the wait and watch tactics, on the premise that market corrections usually take eight to ten weeks, before finally stabilising.

The Bombay Stock Exchange (BSE) Sensitive Index (Sensex) today lost 237.85 points or 2.98 per cent and closed on 10,213.48 points.

Earlier, the FIIs who purchased net shares worth USD 135 million on Friday, continued the positive trend in the morning, but later due to increase in the crude oil prices and less than firm performance of the Asian markets, especially Nikkei and Kospi, lost balance and led to the decline of the BSE.

All the BSE indices today closed in the red. Auto, capital goods, PSU, midcap, smallcap, metals, IT, oil and gas and FMCG were down by 1 to 4 per cent.

Major gainers on the index were - L&T, HDFC, NTPC and Reliance Energy, all up by 0.5 to 3.5 per cent.

Besides, the losers on the index were - ACC, Hindalco, Satyam Computers, Tata Steel, Grasim, Bharti Tele, Ranbaxy, HLL and Reliance Industries, all down by 3.35 to 5.5. per cent.

Major gainers on the BSE Sensex were - L&T, up by 3.27 per cent to Rs 2,263.45, HDFC by 1.94 per cent to Rs 1,199.45, NTPC by 0.55 per cent to Rs 110.55 and Reliance Energy was up by 0.38 per cent to Rs 459.15. Besides, the major losers were - ACC, down by 5.53 per cent to 742.70, Hindalco was down by 5.06 per cent to Rs 170.60, Tata Steel by 4.52 per cent to Rs 494.20, Satyam by 4.24 per cent to Rs 639.95, Maruti Udyog Ltd by 4.03 per cent to Rs 738.40, Ranbaxy by 3.78 per cent to Rs 411.00, Grasim by 3.56 per cent to Rs 736.60, Bharti Tele by 3.50 per cent to Rs 353.35, HLL by 3.4 per cent to Rs 235.50 and Reliance Industries by 3.32 to Rs 925.60.

The breadth in the broader market was in favour of 1,721 declines as against 698 advances, out of total 2,467 scrips traded on the BSE.

UNI