Mkts end flat; oil&gas, auto stocks dip
Mumbai, Jul 27: The benchmark indices ended the first day of the week on a flat note after seeing consolidation throughout the session.
On the one side, FMCG, realty, power, metal and select telecom stocks witnessed buying interest while on the other side, oil & gas, private banking and auto stocks were under pressure.
The broader indices outperformed the benchmark indices; both the BSE Midcap and Smallcap indices went up 1.4 pc each. The market breadth was positive; about 1,734 shares advanced while 1,057 shares declined on the BSE. Nearly 377 shares remained unchanged.
The Nifty closed at 4,570, up 2 points while the Sensex fell 11 points, to 15,367.
Mkts volatile; RIL, ONGC, Tata Motors dip
At 12 pm, the markets were extremely volatile in trade. Reliance Industries, ONGC, ICICI Bank, Hero Honda, Maruti, HDFC Bank, SAIL, Tata Motors, Idea, BPCL and Cipla were under selling pressure. Ranbaxy Labs was down, after seeing jump in initial trade.
The Sensex rose 5 points, to 15,384 and the Nifty gained just 2 points at 4,570. The broader indices gained 1 pc each. The market breadth was in favour of advances; about 1746 shares advanced while 967 shares declined on the BSE. Nearly 453 shares were unchanged.
Top gainers - HCL Tech was at Rs 247.75, up 5.65 pc; DLF was at Rs 412.05, up 4.65 pc; Axis Bank was at Rs 928.50, up 3.86 pc; HUL was at Rs 292.65, up 3.54 pc; Jindal Steel was at Rs 3,087.45, up 2.81 pc; Tata Steel was at Rs 453.75, up 3.15 pc; Jaiprakash Associates was at Rs 248.25, up 2.80 pc and Tata Power was at Rs 1,204.50, up 2.70 pc.
On the global front, Asian markets were up 0.8-1.5 pc. On the sectoral front, Realty Index rose 3 pc. FMCG, Power, TECk, IT and Metal indices went up 1-1.8 pc. However, Oil & Gas Index fell 3 pc and Auto lost 0.7 pc. Castrol India jumped 4.7 pc, as its Q1 net profit was up 55 pc and net sales up 2.5 pc.
Mkts postive; border indices outperform
At 11:00 am, the benchmark indices were witnessing a choppy trade. Reliance Industries is the major heavyweight, lost over 4.5 pc; due to which gains of the markets capped. Its Q1 numbers were below the markets' expectations and brokerages downgraded the EPS.
Other losers were auto stocks along with BPCL, HDFC Bank, SAIL and Idea Cellular. However, realty and PSU banking stocks were trading higher ahead of credit policy on Tuesday, Jul 28. Technology, FMCG, capital goods, power and metal stocks were other gainers.
The Sensex rose 45 points, to 15,424. The Nifty was inching towards the 4600 mark; was up 15 points, to 4,583. The broader indices were up over 1 pc. The market breadth was positive; about 1,702 shares advanced while 1,015 shares declined. Nearly 449 shares were unchanged.
Infosys, ICICI Bank, L&T, HDFC, ITC, DLF, NTPC, HUL and Bharti were positive contributors.
In the midcap space, Puravankara Projects, Godrej Industries, Shree Cements, UTV Software and Fortis Healthcare were up 6-9 pc. In the smallcap space, Techno Electric shot up 20 pc. Rico Auto, Micro Inks, Marathon Nextgen and Sundram gained 8.5-11 pc.
Mkts choppy in early trade; RIL, GAIL dip
The markets opened marginally lower but immediately turned positive with some volatility. Big heavyweight, Reliance Industries was the major loser and capped the gains of the markets. However, infrastructure, banking, telecom and FMCG stocks were seeing buying interest.
At 9:56 am, the Sensex was up 19 points, to 15,398 and the Nifty rose 9 points, to 4,577. About 462 shares advanced while 156 shares declined on the NSE.
Reliance Industries tanked 5 pc on bad set of numbers for Q1FY10. GAIL was down 1.8 pc post its Q1 numbers. However, Ranbaxy was up 2 pc on good numbers led by forex gains. Jaiprakash Associates was up 3 pc on good Q1 numbers.
Among the frontliners, HDFC, NTPC ahead of numbers, Suzlon, Jindal Steel, Bharti Airtel, SBI, ICICI Bank, ONGC, Siemens and Tata Motors (ahead of numbers) were the gainers.
In Midcap space Rico Auto was up 10 pc. Dena Bank, Bank of India, UCO Bank, Bank Rajasthan and Vijaya Bank were strong. Shree Cement was up 7 pc and JK Lakshmi Cement up 3 pc on good set of numbers. While, Ispat, Ashok Leyland and DCB were down over 2 pc. Jet Airways lost 5 pc.