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Mkts end +ve gaining support from power, metal

Written by: Staff

Mumbai, Jun 16: The 30-share Sensex closed at 14,957.91, up 0.55 per cent or 82.39 points and the 50-share NSE Nifty went up 0.75 per cent or 33.80 points, to shut shop at 4517.80.

The broader indices outperformed the benchmarks. Midcap index went up by 2.2 per cent 112.96, to 5,226.16 and the Smallcap Index went up by 2.13 per cent or 125.60 points, to 6,011.36.

The markets did show some recovery to end the day on a positive note. The recovercy was supported by capital goods, power, financial, metal (barring Sterlite), auto and select telecom stocks.

Reliance Industries and Sterlite which continued to witness pressure weighed on the markets. Bharti, Wipro, Reliance Petroleum, Reliance Power and Hero Honda also saw selling.

The market breath also turned positive in the second half of the session.

While the US markets were tradinbg flat, European markets opened up to some gains. Asian markets closed lower.

4:26 PM

Mkts recover; Reliance Infra, SBI, Tata Power gain

At 12: 43 pm, Sensex was up 42.19 points or 0.28 per cent at 14917.71, and the Nifty was up 25.05 points or 0.56 per cent at 4509.05. The broader indices outperformed the benchmarks.

Recovering from its early losses, the markets were trading positive yet volatile. The recovery was supported by power, banking, FMCG, capital goods and realty stocks.

ICICI Bank and Reliance Industries along with IT, cement and select metal stocks were weighing on the market,

The top gainers on the Sensex are Reliance Infra, SBI, Tata Power, DLF, and ITC. However Sterlite, Wipro, Grasim, ICICI were on the losing side.

Surging up to 5 to 7 per cent, the gainers among the midcaps were IndusInd Bank, Jubilant, Lakshmi Energy, Jai Corp & JM Financial. Kingfisher Airlines, Gujarat NRE Coke, Thermax, Jet Airways & RCF dipped 3 to 5 per cent.

In the smallcap arena, Shree Precoated Steels, Spectacle Ind, Sulzer, Atul, Gree Fin were the gainers. The losers were Ugar Sugar Work, BL Kashyap, Shree Ram Urban, Forbes Gokak and Hinuja Foundri.

1:51 PM

Mkts volatile; buying in capital goods, power

At 11: 26 AM, Sensex gained 30 points, to 14,905 and the Nifty rose 6 points, to 4,489. Among the broader indices, the Midcap and Smallcap indices gained 0.95 per cent and 0.4 per cent, respectively.

The markets recovered early losses and was trading amid volatility. The recovery was backed by buying in capital goods, power, select metals, telecom and financial stocks.

But the markets saw pressure due to the sell-off in ONGC, Reliance Industries, Bharti, Sterlite, Wipro, ICICI Bank, TCS, Tata Steel, Hero Honda, Tata Motors, Maruti, Grasim and ACC.

The market breadth was in favour of declines. About 1201 shares advanced while 1475 shares declined and nearly 469 shares were unchanged.

11:46 AM

Mkts open -ve; Tata Steel, L&T, RIL, ICICI lose

The markets opened in the red on the back of negative global cues. The sell-off continued weighing on the markets as well. Metal, capital goods, telecom and select financial stocks were under pressure.

At 9: 56 am, the Sensex lost 180 points, to 14,694 and the Nifty fell by 43 points, to 4,442. The CNX Midcap and BSE Smallcap indices slipped 1.35 per cent each, to 5,403 and 5,807, respectively.

The losers among the frontliners were Sterlite, Hindalco, Tata Steel, L&T, Bharti, Reliance Industries, Reliance Communications, ICICI Bank, HCL Technologies and Suzlon Energy.

However, Tata Power, Reliance Infrastructure, NTPC, SBI, ONGC, HUL and ITC supported the markets.

In the midcaps, IVRCL Infra, Noida Toll, GMR Infrastructure, Alok Industries and Ispat Industries lost over 4 per cent. With the PSU Oil companies hiking the jet fuel pricing, Kingfisher Airlines and Jet Airways lost 4 to 6 per cent.

As the company board approved raising up to Rs 1,500 crore through QIP (qualified institutional placement) issue and raising up to Rs 2,500 crore through public issue; Ansal Properties shot up by 3 per cent. This supported the increment in FII investment limit from 24 per cent to 49 per cent.

RNRL and Reliance Power were trading flat . However, SPARC was up 2 per cent and FDC gained 1 per cent.

10:28 AM

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