Mkts recover marginally, end flat
Mumbai, May 5: The Indian markets managed to recover its losses marginally in the last hour and end the day on a flat note.
The indices gained support from the bounce back in the European market.
BSE Sensex shut shop at 17,087.96, down 49.18 points and NSE Nifty ended at 5124.90, down 23.60.
The
markets
have
been
reeling
under
sell-off
since
Tuesday,
May
4
on
European
debt
woes.
4:
11
PM
Mkts turn red after European mkts open
While European debt woes had hit the Indian markets leading to the indices opening the day in the red, the benchmarks and the midcap indices had earlier recovered some of its losses and turned.
However, the opening of European markets along with other factors have yet again taken the Indian markets to the negative territory.
At 2: 20 pm, BSE Sensex was trading at 16,981.15, down 155.99 and NSE Nifty was at 5095.85, down 52.65 points.
Capital goods, power, banking, metal, realty, FMCG, oil & gas exploration and select auto companies' shares were reeling under pressure.
On
the
positive
side,
Bharti,
Wipro,
HCL
Tech,
Kotak
Mahindra,
BPCL,
M&M
and
Ranbaxy
Labs
were
up
on
the
Nifty.
2:
32
PM
Mkts recover losses on buying
After opening the day in red, the benchamarks gained some support from buying in pharma and IT stocks to recover quickly. Midcap index has also recovered 1.5 per cent of its losses.
At 12: 30 pm, BSE Sensex was trading at 17,007.27, down 129.87 points, NSE Nifty was at 5103.85, down 44.65 points.
Up by 2 per cent, BPCL was the top gainer among the largecaps. HCL Tech, Bharti Airtel, Ranbaxy Labs and Mahindra and Mahindra gained over 1 per cent each.
However, Jaiprakash Associates, Jindal Steel, Sterlite Industries, Idea Cellular and Cairn India were down 3 to 5 per cent.
Realty,
capital
goods,
power
and
banking
stocks
fell
0.5
to
1.5
per
cent
and
metal
stocks
dipped
2
per
cent.
12:
35
PM
Hit by Euro debt woes Indian mkts open in red
With European debt crisis spreading to Spain now, the global woes caught up with the Indian markets forcing the indices to open the day in the red.
At 9:02 am, NSE Nifty was trading at 5076, down 71 points and BSE Sensex was at 16903, down 232 points. The CNX Midcap fell 138 points to 7804.
Sterlite, Tata Steel, Hindalco, ICICI Bank, Reliance Industries and Jaiprakash Associates were the frontline losers while HUL, ITC and ONGC were trading flat.
Selling pressure were seen in Sugar stocks. Balrampur Chini, Shree Renuka Sugars and Bajaj Hindusthan dipped about 3 to 5 per cent.
The
other
losers
were
Ispat,
Lloyds
Steel,
Sesa
Goa,
Gujarat
NRE
Coke,
JSW
Steel,
Apollo
Tyres,
Ashok
Leyland,
Vijaya
Bank
and
DCB,
which
slipped
3
to
5
per
cent.
9:
35
AM
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