Mumbai, Oct 8: Oil & gas, FMCG, power, metal and banking supported the markets during the volatile session. For the fourth consecutive session, telecom and technology stocks remained under pressure.
While the 30-share BSE Sensex ended at 16,843.54, up just 36.88 points over previous close, 50-share NSE Nifty gained just 16.50 points to shut shop at 5,002.25.
Profit booking in Reliance Industries in the last hour put pressure on the Nifty. It closed for the day up by 1 per cent after surging 3.5 per cent earlier on the announcement of 1:1 bonus issue.
Technology stocks experienced selling pressure throughout the session ahead of Infosys Q2 numbers. TCS and HCL Tech dipped over 3.2 per cent. Infosys, Wipro and Tech Mahindra were down 1.3 to 1.8 per cent.
In telecom, Bharti Airtel tumbled 6.6 per cent, Reliance Communication plummeted 6 per cent, Idea Cellular lost 2.27 per cent.
4: 40 PM
Mkts continue +ve; RIL, ITC, HUL, Tata Steel up
Buying in FMCG, oil & gas, metal stock, power, auto, realty, banks and pharma stocks was supporting the Sensex. Indian markets also got support from European markets which were up 1 to 1.5 per cent.
At 12.59 pm, Sensex was up 126.44 points or 0.75 per cent at 16933.10, and the Nifty was up 48.60 points or 0.97 per cent at 5034.35.
Top gainers on the Sensex were Tata Motors up 4.63 per cent, HUL up 3.60 per cent, Tata Steel up 3.27 per cent, ITC up 3 per cent and Reliance Infra up 2.99 per cent. Index heavyweight Reliance was trading at up 2.14 per cent. Cigarette major ITC was trading up 3 per cent.
The top losers on the Sensex were Bharti Airtel down 3.42 per cent, Reliance Comm down 3 per cent, TCS down 2.77 per cent, Sun Pharma down 2.07 per cent and L&T down 1.99 per cent.
Top percentage gainers on the BSE were Invest and Prec 19.97 per cent, Aeonian Pub 18.92 per cent, Vimal Oils up 16.32 per cent, Ashiana Housing 13.98 per cent and Flex Foods at Rs 35.25 up 13.71 per cent.
The BSE midcap and smallcap indices were up 1.07 per cent and 0.73 per cent respectively.
Among Midcap Bajaj Finserv, Nagarjuna Const, Aurobindo Pharm, Hind Constr and EngineersInd were up 4 to 5 per cent. Top gainers on the BSE Smallcap - Premier, Henkel India, ISMT, Timken and Banco Products were up 8 to 11 per cent.
Nifty trading above 5K mark; metals, banks up
At 11:42 am, the Nifty was trading above the 5,000 mark. Buying interest were seen in oil & gas, FMCG, banking, metal, power, cement and realty companies' shares.
The Sensex was up 120 points at 16,926 and the Nifty was up 34 points at 5,020. The broader indices were also following the same trend, up 0.5-0.9 pc.
Metal stocks like Tata Steel, Hindalco, SAIL, NALCO and Sterlite gained 1-3.4 pc.
Banking stocks like Axis Bank rose 2.46 pc. PNB, ICICI Bank, SBI and HDFC Bank were up 0.5-1.5 pc.
However, Bharti Airtel, Infosys, TCS, L&T, Reliance Communication, HCL Tech and Idea Cellular fell 1-3 pc.
RIL bonus news helps mkts open higher
Bonus announcement by heavyweight Reliance Industries Ltd (RIL) led the Indian markets to open the day on a higher note. While the global cues were mixed, profit booking in telecom stocks capped the gains.
At 9:56 am, the Nifty was up 17 points at 5,003 and the Sensex was up 82 points at 16,889. The CNX Midcap was up 46 points, to 6,772.
Riding on the announcement of 1:1 bonus issue, RIL gained 3.5 per cent. However, the stock was seeing some profit booking at higher levels.
The gainers among the frontliners were Hindalco, SAIL, Nalco, NTPC, ONGC, SBI, Grasim, Maruti and M&M.
However, Reliance Communication dipped nearly 3 per cent and Bharti was down 1 per cent. L&T was down 0.9 per cent.
Among the midcaps, Alembic, Electrosteel Casting, Asahi India and Pyramid Saimira were seeing buying interest. But, Maytas Infra, Jet Airways, Kingfisher Airlines and IDBI fell over 1 per cent.
10: 20 AM