The Sensex snapped a six-day winning streak and closed marginally lower on the back of weak global cues and profit booking in telecom, cement, realty, select metal, capital goods and private banking stocks. ONGC was also the loser.
However, buying in PSU banking, auto, select technology and oil marketing companies' shares capped the losses to major extent and helped the indices to close with modest loss.
Global cues were weak throughout the session. Asian markets ended lower; Japan's Nikkei slipped 2.3% on the back of surge in Yen against dollar, which was at 90.7/$; this hammered export related stocks. Hang Seng, Jakarta, Straits Times, Kospi and Taiwan Weighted fell 1-1.5% while Shanghai gained 1.24%. At the time of closing Indian equities, European and US index futures were trading nearly 1% lower each.
The equity benchmarks continued to see consolidation in today's trade as well. The 30-share BSE Sensex closed at 16,214.19, shed 50.11 points, after seeing an intraday low of 16,119.95. The 50-share NSE Nifty slipped 20.95 points, to settle at 4808.60, after hitting a day's low of 4786.25.
The Nifty managed to hold the 4800 mark for the fifth day in a row, after hovering around the same level. Independent Analyst, Girish Pai said the liquidity situation was going to be fairly benign for equities over the next 12-18 months and that would help emerging market equities. "I would expect the markets to be higher over the next 12 months." For near term, he said, "I think the markets are looking stretched. We have gone up almost 100% since March with a just small correction happening post budget, so there could be a correction in the offing maybe 10-15-20% correction. But beyond that I think the markets are headed higher."
The Nifty futures premium surged in the late trade and ended with 28 points premium, as per provisional data. The Nifty Open Interest put-call ratio rose to 1.46 from 1.39, as Nifty 4800 Put added 6 lakh shares in Open Interest while Nifty 4900 Call shed 6 lakh shares in Open Interest.
In commodities, base metals were down in trade today; LME Aluminium, Copper, Zinc, Nickel and Tin slipped 1-2.5%. Crude futures slipped to $ 68.52 a barrel, down $ 0.77 on the NYMEX. Gold was trading at $ 997.29, down $ 7.61 from its previous close.
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In the realty space, HDIL lost 3.6%, as its directors admitted to concealing income of Rs 350 crore, as per IT sources. Orbit Corporation, Unitech, Sobha Developer, Parsvnath and DLF were down 1.7-2.5% while Indiabulls Real was up 4.98%.
Power stocks like GVK Power, Lanco Infratech, GMR Infra, Torrent Power, Neyveli Lignite and Suzlon Energy fell 0.9-3%.
Index
Closing Value
Chg (%)
REALTY 4,213.44 -0.79
CAP GOODS 13,198.59 -0.55
TECk 3,134.93 -0.55
IT 4,354.30 -0.33
FMCG 2,505.84 -0.24
POWER 2,956.63 -0.21
METAL 13,440.18 -0.14
PHARMA 3,929.15 -0.08
MIDCAP 5,930.38 0.15
OIL&GAS 10,259.89 0.24
SMALLCAP 7,133.66 0.46
BANKEX 8,955.34 0.49
AUTO 6,092.85 1.04
In the oil & gas space, ONGC and Cairn India fell over 1%. However, IOC, GAIL, BPCL and HPCL went up 1-3%. Reliance Industries was up just 0.28%.
Metal stocks like Sterlite Industries, Hindalco, NALCO, SAIL and Hindustan Zinc were down 1-3.5% while Jindal Steel, Tata Steel, JSW Steel and Sesa Goa gained 1.4-2.4%.
In the auto space, Bharat Forge shot up 6.93%. Apollo Tyres, Amtek Auto, Tata Motors, M&M and Bajaj Auto were up 1-2.5%. Maruti Suzuki rose 0.56% while Ashok Leyland fell 1.53%.
Banking stocks like ICICI Bank and Axis Bank declined 0.8-1.2% while Bank of Baroda, PNB, SBI and Kotak Mahindra were up 1.5-2.8%. HDFC Bank was up just 0.23%.
In the technology space, Infosys was down 0.68% while Tech Mahindra and Wipro gained 1% each.
FMCG stocks like United Spirits, ITC and Tata Tea went down around 1% each while United Breweries and HUL were up 1.6-2%. Dabur India was up 0.51%.
In the capital goods space, L&T and Siemens fell over 1% while ABB and Punj Lloyd gained 1-1.5%.
In the telecom pack, Reliance Communication, Tata Teleservices and Idea Cellular slipped 1.8% each. Tata Communication, MTNL and Bharti Airtel were down 0.6-1.4%.
The broader indices outperformed the benchmark indices; the BSE Midcap Index was up 0.15% and the Smallcap Index was up 0.46%.
In the midcap space, Spice Communication, HMT, Bharat Forge, Bhushan and Phoenix Mills were up 5.6-8.7% while Deccan Chronicle, Torrent Pharma, Apollo Hospital, UTV Software and Emami were down 3.8-4.7%.
In the smallcap space, Himatsingka Seide, Vikas WSP, Provogue, PNB Gilts and Shoppers Stop gained 11-19% while Tube Investment, Rajesh Exports, GMR Industries, Geekay Finance and Cholamandalam fell 5-9%.
Top percentage gainers - Trent (W), Bambino Agro, Krone Comm, IFB Industries and Kisan Mouldings went up 20% each.
Volumes declined compared to previous session; total traded turnover was at Rs 77,045.23 crore as against Rs 84,413.27 crore on Friday. This included Rs 13,913.55 crore from the NSE cash segment, Rs 58,031.55 crore from the NSE F&O and the balance Rs 5,100.13 crore from the BSE cash segment.
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Sensex southbound on weak European cues; Sterlite dips 3%
At 14:34 hours IST, the Sensex was still trading lower as selling continued in realty, telecom, cement, metal, select technology and capital goods stocks and in ONGC. The Nifty was hovering around 4800 since opening today. About 1-1.5% fall in European markets and nearly 1% decline in US index futures also exerted pressure on the benchmark indices.
However, buying in PSU banking, oil marketing and auto (four-wheeler) stocks and stocks like Tata Steel, Wipro, HUL and HDFC Bank capped the losses to some extent.
The Sensex was down 100 points at 16,163 and the Nifty lost 31 points at 4,798. However, the broader indices were quiet in trade, as about 1,464 shares advanced while 1,401 shares declined on the BSE. Nearly 336 shares were unchanged.
In the realty space, HDIL, Orbit Corporation, Unitech and DLF fell 2-3.8%.
Telecom stocks like Reliance Communication, Idea Cellular, Tata Teleservices, Tata Communication and Bharti Airtel were down 1.3-1.9%.
Metal stocks like Sterlite Industries was down 3.6%. Hindalco, NALCO, SAIL and Hindustan Zinc lost 1.5-2.5%. In the capital goods space, L&T and Siemens fell 1.1-1.4%.
In the oil & gas space, IOC, HPCL, GAIL and BPCL gained 1-3.7% while ONGC and Cairn India slipped over 1.2%.
Auto stocks like Bharat Forge declined 6.34%; Apollo Tyres, Amtek Auto and M&M went up 1.5-2.5%. Bajaj Auto and Maruti Suzuki were up 0.4-0.8%. However, Ashok Leyland fell 2.4% and Hero Honda down 0.42%.
In the banking space, Bank of Baroda, Canara Bank, SBI, PNB and Kotak Mahindra gained 1.5-1.8% while ICICI Bank and Axis Bank lost 0.8-1.3%.
Top percentage gainers - Trent (W), Bambino Agro, IFB Industries, Kisan Mouldings and Liberty Phos were up 20% each. Himatsingka Seide, Provogue, PNB Gilts and Repro India went up 13-17.5%.
Nifty trading weak; metal, realty, telecom, cement down
At 1.20 pm today, the Nifty continued to trade weak but was holding the 4800 mark. Selling was seen in metal, telecom, cement, realty and IT stocks. Stocks like Infosys, ICICI Bank, L&T and ONGC were the negative contributors to the bourses. The broader indices were trading flat.
The Sensex was down 54.51 points or 0.34% at 16209.79, and the Nifty was down 21.10 points or 0.44% at 4808.45.
About 1472 shares advanced, 1382 shares declined, and 347 shares were unchanged.
After the recent consolidation, Amitabh Chakraborty, Religare Capital Markets expected the Nifty to touch 5,000 in the near-term led by Reliance. "Economic data is turning positive and with global markets trading with a positive bias, the downside looks capped. I like real estate and oil marketing companies," he added.
Top losers on the Sensex were Sterlite Ind at Rs 719.40 down 3.55%, Hindalco at Rs 120.95 down 2.58%, DLF at Rs 391 down 1.92%, Grasim at Rs 2,603 down 1.78% and ACC at Rs 760.50 down 1.67%.
Tech major Infosys was trading at Rs 2,248.05 down 0.79% from its previous close of Rs 2,266.
Cigarette major ITC was trading at Rs 225.40 down 0.77% from its previous close of Rs 227.15.
However, top gainers on the Sensex were SBI at Rs 1,954 up 1.83%, M&M at Rs 831.95 up 1.48%, Wipro at Rs 558.75 up 1.14%, Jaiprakash Asso at Rs 230.60 up 1.12% and HUL at Rs 258.50 up 1%.
Refinery major HPCL was trading at Rs 400.00 up 2.58% from its previous close of Rs 389.95.
Top gainers on the BSE Midcap - Spice Comm, Monsanto India, Nat Fert, HMT and Kalpataru Power were up 6-10%.
Top gainers on the BSE Smallcap - Provogue, Rallis India, Himatsingka Sei, PNB Gilts and Vikas WSP were up 10-14%.
Sensex trades weak; SBI, Wipro, HUL, BHEL, BPCL gain
At 11:59 hours IST, the Nifty continued to trade weak with some volatility, as real estate, metal (barring Tata Steel), telecom, oil & gas exploration, power, cement and technology companies' shares were under selling pressure. It managed to hold the 4800 mark on the back of buying in shares of PSU banking, oil marketing, select pharma and capital goods companies.
The market breadth was mixed; about 1,445 shares advanced while 1,384 shares declined on the BSE. Nearly 372 shares were unchanged. The broader indices were quiet in trade.
The Sensex was down 72 points at 16,192 and the Nifty was down 20 points at 4,809. The Nifty September Future was trading with 8.5 points premium.
In the oil & gas pack, ONGC, Cairn India and Reliance Industries fell 0.5-1.7% while IOC, HPCL, GAIL and BPCL gained 1.4-3.3%.
Realty stocks like HDIL, Unitech, DLF, Ackruti City, Sobha Developer, Orbit Corporation, Parsvnath and Omaxe lost 1-4%.
In the technology space, Wipro was up 1.20% and HCL Tech up 0.43% while Infosys and TCS fell 0.7-0.8%.
Banking stocks like Karnataka Bank, IOB, Bank of India, IndusInd Bank, PNB, Oriental Bank, SBI, Bank of Baroda, IDBI Bank, Kotak Mahindra and Canara Bank were up 1-3.4%. HDFC Bank was up 0.54%. However, ICICI Bank fell 1.24% and Axis Bank down 0.44%.
Telecom stocks like Reliance Communication, Idea Cellular, Bharti Airtel and Tata Teleservice slipped 0.9-1.6%.
In the metal space, Sterlite Industries, Hindalco, NALCO, JSW Steel, Sesa Goa, Jindal Steel and SAIL were down 1-4% while Tata Steel gained 1.4%.
Power stocks like GVK Power, Lanco Infratech, Neyveli Lignite, GMR Infra, Reliance Infrastructure, Torrent Power and Tata Power were down 0.5-2.6%. NTPC and Suzlon Energy declined just 0.3% each.
Top percentage gainers - Liberty Phos, Bambino Agro, State Bank Mysore, IFB Industries, Provogue, PNB Gilts, Himatsingka Seide and BASF were up 10-20%.
Top percentage losers - Filatex Fashion fell 20%. Delton Cables, Sarda Plywood, Sanjivani Paren, Rajesh Exports, GMR Industries, Sree Rayalaseem, Raj Television and Lumax Inds fell 6-10%.
Tata Steel, Kirloskar Oil, HDIL, Godrej Industries, Reliance Industries, DLF and SBI were most active shares on the bourses.
Nifty hovers around 4800; ONGC, RIL, TCS, ICICI Bank dip
At 10:54 hours IST, the Sensex was trading lower on the back of profit booking in shares of oil & gas exploration, realty, telecom, private financial, cement, metal, power and technology companies. The Nifty was hovering around the 4800 mark.
Weak Asian markets were also putting pressure on the markets; Hang Seng, Jakarta, Kospi and Taiwan Weighted were down over 1% each. Nikkei slipped 2.4% and Straits Times down 0.8%. However, Shanghai gained just 0.2%.
However, buying in Wipro, Tata Steel, Maruti, BPCL, SBI, PNB, BHEL and HUL capped the losses to some extent.
The Sensex was down 98 points at 16,167 and the Nifty was down 27 points at 4,802. The market breadth was weak; about 1,263 shares advanced while 1,574 shares declined on the BSE. Nearly 364 shares were unchanged.
In the largecaps, Sterlite Industries, Hindalco, ONGC, DLF, Reliance Communication, NALCO and Unitech were down 1.5-3%.
In the midcap space, HMT, Kirloskar Oil, Andhra Bank, Monsanto India and Kirloskar Brothers gained 3.5-7% while REI Six Ten, Emami, Spice Communication, Apollo Hospital and HDIL fell 3.5-5%.
In the smallcap space, Provogue, BL Kashyap, ITI, Zandu Pharma and PNB Gilts were up 8.5-12% while Rajesh Exports, GMR Industries, VIP Industries and Geekay Finance lost 5-6.5%.
Ciba India (shot up 7%) will be merged with BASF India (gained 11%) with swap ratio of 90 shares of BASF India for every 100 of Ciba.
Nifty choppy with downward bias; Asian cues weak
The Nifty snapped a six day winning streak and opened lower following weak Asian cues. It was hovering around the 4800 mark. Cairn India, Sterlite Industries, Jindal Steel & Power, Nalco, HDFC, DLF, Unitech, ABB, Siemens and TCS were the losers in the early trade.
However, SBI, HUL, BPCL, Ranbaxy Labs, Tata Power, BHEL, Wipro, ITC, NTPC and PNB were providing support.
At 9:57 am, the Sensex was down 70 points, to 16,194 and the Nifty down 21 points, to 4,808. The CNX Midcap slipped just 8 points, to 6,221. About 330 shares advanced while 440 shares declined on the NSE.
Midcap space
Jet Airways was up 4% as pilots' strike ended.
Vijaya Bank was up 2.5% and IOC was up 3%.
HDIL tanked 6% as its directors admitted to concealing income of Rs 350 crore, as per IT sources.
ITI shot up 10%. There were reports that BSNL would give USD 2 billion equipment contract to the company.
IDFC, UCO Bank and IndusInd Bank declined over 1% each.
Raj TV was down 5.6%.
Global cues:
Asian markets were trading lower. Nikkei was down 2.2% ahead of its IIP data today. Hang Seng, Straits Times, Kospi and Taiwan Weighted fell 0.5-0.9%. Jakarta lost 1.4%. However, Shanghai gained 0.25%.
The US markets ended marginally down as sharp drop in oil prices offset an improvement in consumer confidence.
The Dow Jones Industrial Average ended down 0.23% at 9,605; the Nasdaq ended down 0.15% at 2,081 and the S&P 500 Index ended down 0.14% at 1,042.73.
Market cues:
-FIIs net buy USD 119 million in equity on September 10
-NSE F&O Open Int up by Rs 2378 crore at Rs 97,771 crore
-NSE F&O Turnover at Rs 61,648 crore versus 5 day average of Rs 64,969 crore
-FIIs net buy Rs 229 crore in cash markets on September 11 (prov)
-DIIs net sell Rs 294 crore in cash markets on September 11 (prov)
-FIIs net buy Rs 86.4 crore in F&O on September 11
F&O cues:
Futures Open Int up by Rs 251 crore
Options Open Int up by Rs 2127 crore
Nifty up 0.2%, Open Int unchanged
Nifty Fut trade at 12-pt premium versus 1-pt discount
Nifty IVs at 26-31%
Nifty Open Int Put Call Ratio at 1.39 versus 1.36
Nifty Puts add 30.6 lakh, Calls add 12.2 lakh shares in Open Int
Nifty September 4600 Put adds 4 lakh shares in Open Int
Nifty September 4900 Call adds 3.8 lakh shares in Open Int
Nifty September 4800 Put adds 3.3 lakh shares in Open Int
Nifty September 4700 Put adds 3.1 lakh shares in Open Int
Nifty December 3300 Put adds 9 lakh shares in Open Int
Stock Futures add 2.2 crore shares in Open Int
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