Nifty ends below 5250 pts; oil & gas dip
Mumbai, Jul 7: At 4:10 hrs, BSE Sensex was 17,471.03 down 143.45 points and NSE Nifty was 5241.10 down 47.95 points.
Nifty ended the day below 5250 points influenced by the decline in the shares of oil & gas, financial, metal, auto, realty and select infrastructure companies, due to the negative global cues.
The top gainers in the trade were Bharti Airtel up 1.69 percent, Reliance Communications up 1.54 percent, Reliance Capital up 1.18 percent, TCS up 0.72 percent.
Reliance Industries and ONGC were down 1.9-2.1 percent. Among other oil & gas stocks, GAIL and BPCL fell 1.4-1.6 percent. BPCL was down 0.67 percent.
Financials like HDFC, HDFC Bank, PNB, Axis Bank, Kotak Mahindra Bank, ICICI Bank and IDFC were also trading in red 1-1.8 percent. SBI was down 0.4 percent. SAIL and Sterlite Industries from metal segment lost 1.9 percent each. Hindalco, Jindal Steel and Tata Steel declined 0.9-1.3 percent.
Sensex recovers in afternoon trade
On buying interest in Bharti Airtel, BHEL, TCS, SBI, Tata Steel, Maruti and Infosys, the Sensex presented a bit of recovery in afternoon trade.
ADAG and power companies' shares were witnessing buying.
Selling continued in heavyweights such as Reliance Industries, ONGC, SAIL, ICICI Bank, HDFC, HDFC Bank, L&T, Wipro and ITC.
At 1:51 pm, the Sensex was dealing at 17520, down 94 points and the Nifty was at 5257, down 31.75 points.
Intellvisions and IVP are top percentage gainers as they surged 20 percent each.
Hindoostan Spg, Vaibhav Gems and Ramco System rallied 15 percent each. Celestial Labs and Advani Hotels gained 11-12 percent.
Indian Bank, Pantaloon Retail, Marico, IBN18 Broadcast and Apollo Tyres were in the midcap space, as their shares were up 3.5-5 percent while Gee Kay Finance, Rei Agro, Fresenius Kabi, Bayer Cropscience and Infotech Enterprises lost 2.5-5 percent.
Advani Hotels, Ferro Alloys, Thinksoft, Jindal Worldwid and Everonn Education were in the smallcap space, as their shares went up 7-10.5 percent while Subhkam Capital, Hatsun Agro, Asian Star and Intra Infotech fell 4-8 percent.
NSE Nifty witnesses selling pressure
NSE Nifty was witnessing selling pressure. Selling in oil & gas exploration, financial, FMCG, technology, cement and metal companies' shares weighed on the markets.
At 12:15 pm, BSE Sensex was 17523.22 down 91.26 points and NSE Nifty was 5257.40 down 31.65 points.
Reliance Industries and ONGC from oil & gas space declined 0.8 to 1percent. ITC and HUL from FMCG segment fell 0.9 percent each.
ICICI Bank, HDFC, HDFC Bank, Axis Bank, IDFC and PNB were down more than 1percent. SBI was down 0.4 percent and Kotak Mahindra Bank was down 0.6 percent.
The top gainers were Reliance Communications was up 2.6 percent, Suzlon Energy was up 1.81 percent, Bharti Airtel was up 1.80 percent, Power Grid Corp was up 1.22 percent, Ranbaxy Labs was 0.83 percent, Maruti Suzuki was up 0.43 percent, DLF was up 0.35 percent and Reliance Infrastructure was up by 0.19 percent.
Mkts open weak on selling pressure
After seeing positive trading in the previous session, the benchmarks have opened the day on a weak note. Nity was flat with negative bias on the opening bell due to the pressure on banking, metal and oil & gas exploration companies' shares.
At 9:01 am, NSE Nifty was trading at 5272, down 17 points and BSE Sensex was at 17566, down 48 points.
While ICICI Bank, PNB, SBI, HDFC Bank, Sun Pharma, Reliance Communications, Idea Cellular, Tata Steel, ONGC, Cairn, Hinalco and JSPL were reeling under selling pressure, among the early frontline gainers were Power Grid, Tata Power, Suzlon Energy, Bharti Airtel, ACC, M&M, Sterlite and Maruti.
9: 42 AM