Nifty ends 85 pts lower on Eurozone debt fears; SBI dips 4%

The benchmark Nifty witnessed huge selling pressure in the second half of trade, especially after European markets opening. The Index closed the session below the 5100 mark. The Sensex also shed 271 points to close below the psychological 17000 level. European markets were down 1.5-3%, at the time of closing of Indian equities on speculation that fiscal austerity in some Eurozone countries may stifle economic growth.The Euro was trading near 14-month low as against dollar. Even crude oil prices slipped to USD 72.92 a barrel, down by USD 1.48 per barrel. On Monday, European Union and IMF had announced USD 1 trillion bailout package for Eurozone countries, especially PIIGS (Portugal, Italy, Ireland, Greece and Spain), which are facing debt problem. All the global markets rallied sharply on this news on Monday. But investors remained doubtful about implementation of this package and whether these countries would be able to solve their problem with this package. With its USD 1 trillion rescue package from the International Monetary Fund (IMF) and the European Union, Europe may have managed to dodge the bullet, but the problems are not yet over, says Russell Napier, Strategist, CLSA. “The ECB wants parts of Europe to deflate. However, deflation, both politically and socially is impossible,” he says. There has been a face off between the ECB and the European governments, he says, adding that the crisis could have been as big as Lehman. However, now, the risk is much lower than last week. The 30-share BSE Sensex closed at 16,994.60, down 271.27 points or 1.57% and the 50-share NSE Nifty fell 85.40 points or 1.65% to settle at 5093.50. The Nifty May future ended with 24 points discount, as per provisional data.  Almost the all major sectoral indices dragged the markets down. The BSE Metal Index tumbled 3.5%. Realty, Oil & Gas, Bank, Capital Goods, Auto and IT indices declined 1-2.5%. The total turnover of the day was Rs 116467.8 crore. The NSE F&O turnover was Rs 99457.1 crore. The NSE Cash turnover was Rs 13057.84 crore while the BSE Cash turnover was Rs 3952.33 crore. (With inputs from Reuters) For top gainers/losers, sectoral gainers/losers in midcap and smallcap space, click on the next page _PAGEBREAK_ In the midcap space, BF Utilities, Sun Pharma Advanced, Godrej Industries, Bajaj Finserv and MRF gained 4.5-11%. However, Aban Offshore plunged 18.29%, as Aban Pearl, an offshore natural gas exploration rig, owned by Aban Offshore, India's largest oil rig company, sank off the coast of northeastern Venezuela. Hindustan Oil Exploration, Jubilant Foodworks, Hindustan National Glass and Simplex Infra were down 5.5-6%. In the smallcap space, Henkel India, Tata Coffee, Goodyear, Prism Cement and Piramal Life went up 5-10% while Elpro Int, Graphite India, Kirloskar Ferro, Hexaware Tech and WABCO-TVS lost 5.6-6.6%. Tata Steel was the top loser in the metal space with 4.6% loss. Sterlite Industries, Jindal Steel, NMDC and SAIL were down 1-4%. Indiabulls Real Esate lost nearly 3% after gaining 6% in yesterday's trade. Realty major Unitech lost close to4%. DLF, DB Realty, Orbit Corp, Parsvnath Developers and Sunteck Realty were down 2-3%. Idea Cellular gained more than 3% in the telecom space. India's largest telecom operator, Bharti Airtel was up close to 2%. Reliance Communication ended with 1.4% loss. Reliance Industries was down more than 2.5% in the oil&gas space. RNRL lost another 4%. Oil marketing companies ended in green. SBI was the top loser in the banking space on disappointing results. Axis Bank, ICICI Bank, Kotak Mahindra Bank, Bank of India and Punjab National Bank were down 1-2%. ABB, Areva T&D, L&T, Punj Lloyd and BHEL were down 1-3% in the capital goods space. Commodities Gold hit record highs near $1,250 an ounce in on Friday as concerns over the fiscal stability of the euro zone prompted selling of the euro and equities in favour of assets seen as safer such as bullion. Crude was hovering around USD 73 per barrel. It was down close to 2%. _PAGEBREAK_ Sensex resumes downward journey; Spain index slides 4% At 14.43 hrs IST, markets were looking jittery on fears of eurozone debt. European markets lost further ground after opening in red. Spain index was down close to 4%. DAX was down close to 1%. CAC lost nearly 3% while FTSE was down more than 1.5%. The euro fell below 1.25 dollars recording a new 14-month low on concerns about the eurozone financial crisis. The Sensex was down 139.26 points or 0.81% at 17126.61, and the Nifty down 49.65 points or 0.96% at 5129.25. About 1058 shares advanced, 1924 shares declined, and 300 shares were unchanged. Selling pressure in metal, banking, realty and oil&gas stocks drageed the Sensex down over 100 points. FMCG stocks saw decent buying. High-risk assets including stocks took a hit while gold hovered near a record high and the dollar hit its highest level versus a currency basket in a year, as worries about the euro zone debt crisis prompted demand for safer investments. Hindustan Lever was trading at Rs 236.90 down 0.57% from its previous close of Rs 238.25. Index heavyweight Reliance was trading at Rs 1,051.35 down 1.91% from its previous close of Rs 1,071.80. Tech major Infosys was trading at Rs 2,686.80 down 0.57% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 271.40 up 1.9% from its previous close of Rs 266.35. Refinery major HPCL was trading at Rs 334.60 up 1.83% from its previous close of Rs 328.60 Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance, Godrej Industries, Bajaj Finserv and MRF were up 4-15%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Oil Exploration, Hind Nat Glass and OnMobile Global were down 5-18%. Top gainers on the BSE Smallcap: Henkel India, Infinite Computers, Goodyear, Tata Coffee and Timken were up 7-10%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, Koutons Retail and Zodiac Clothing were down 5-6%. Nifty tests 5150; European markets down 0.7-2% At 13.14 hrs IST, Nifty was down close to 0.5% after weak opening of European markets. The market looks nervous ahead of the weekend. Heavy selling in metals, oil&gas, realty and banking stocks dragged the markets down. FMCG and pharma stocks saw some good buying. The Sensex was down 65.08 points or 0.38% at 17200.79, and the Nifty down 28.20 points or 0.54% at 5150.70. About 1179 shares advanced, 1768 shares declined, and 335 shares were unchanged. World stocks have risen close to 6 percent this week following the weekend's 750 billion euro agreement by the European Union and International Monetary Fund to stave off a sovereign debt crisis. Asian markets were trading more or less flat. European markets opened in red. CAC was down 2%. DAX was down 0.7% and FTSE was down close to 1%. Top gainers on the Nifty: Bharti Airtel, Idea Cellular, ITC, HCL Tech and BPCL were down 1.2-2.2%. Top losers on the Nifty: Cairn India, Tata Steel, Jindal Steel, Unitech and Jaiprakash Associates were down 2.2-3.4%. In the midcap space, BF Utilities, Sun Pharma Advance, Godrej Industries, Bajaj Finserv and Tata Tea were up 3.5-12.5%. On the losing side, Aban Offshore lost more than 15%. Hind Nat Glass, Gee Kay Finance, Hind Oil Explor and MTNL were down 3-5%. In the smallcap space, Henkel India, Tata Coffee, Goodyear, Timken and Infinite Compuetrs were up 8-10%. Graphite India, Jindal Worldwide, Mahindra Forging, Cambridge Solutions and Savita Oil Tech were down 4-6%. Nifty consolidates; April WPI inflation at 9.59% At 11.44 hrs IST, the Nifty was trading flat. It was a lacklustre session for the markets on the back of quiet global cues. Buying was seen in FMCG, telecom, IT and pharma stocks. Metal stocks continued to reel under pressure. Oil&gas, realty and auto stocks were also under pressure. The broader markets also mirrored the movement of largecaps. The BSE Midcap and Smallcap index were also flat. April WPI inflation stood at 9.59% Vs 9.9% (MoM). The Sensex was up 5.05 points or 0.03% at 17270.92, and the Nifty was up 0.80 points or 0.02% at 5179.70. About 1362 shares advanced, 1562 shares declined, and 358 shares were unchanged. In the largecap space, Bharti Airtel was the top gainer with close to 2.5% gain. ITC, TCS, Grasim and Cipla were up 0.9-1.4%. On the losing side, Tata Steel, Jaiprakash Associates, Sterlite Industries, Reliance Industries and Hindalco were down 0.7-1.7%. Index heavyweight Reliance was trading at Rs 1,062.25 down 0.89% from its previous close of Rs 1,071.80. Refinery major HPCL was trading at Rs 332.30 up 1.13% from its previous close of Rs 328.60. Tech major Infosys was trading at Rs 2,714.10 up 0.44% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 270.05 up 1.39% from its previous close of Rs 266.35. Hindustan Lever was trading at Rs 238.25 down 0% from its previous close of Rs 238.25. Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance Research, Bajaj Finserv, Godrej Indsutries and Tata Tea were up 4-11%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Nat Glass, MTNL and Great Offshore were down 3-17%. Top gainers on the BSE Smallcap: Henkel India, Ushdev International, Tata Coffee, JK Tyre & Ind and Supreme Infra were up 6-9%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, JMD Telefilms and Indian Metals were down 3.5-5.5%.  Nifty consolidates; April WPI inflation at 9.59% At 11.44 hrs IST, the Nifty was trading flat. It was a lacklustre session for the markets on the back of quiet global cues. Buying was seen in FMCG, telecom, IT and pharma stocks. Metal stocks continued to reel under pressure. Oil&gas, realty and auto stocks were also under pressure. The broader markets also mirrored the movement of largecaps. The BSE Midcap and Smallcap index were also flat. April WPI inflation stood at 9.59% Vs 9.9% (MoM). The Sensex was up 5.05 points or 0.03% at 17270.92, and the Nifty was up 0.80 points or 0.02% at 5179.70. About 1362 shares advanced, 1562 shares declined, and 358 shares were unchanged. In the largecap space, Bharti Airtel was the top gainer with close to 2.5% gain. ITC, TCS, Grasim and Cipla were up 0.9-1.4%. On the losing side, Tata Steel, Jaiprakash Associates, Sterlite Industries, Reliance Industries and Hindalco were down 0.7-1.7%. Index heavyweight Reliance was trading at Rs 1,062.25 down 0.89% from its previous close of Rs 1,071.80. Refinery major HPCL was trading at Rs 332.30 up 1.13% from its previous close of Rs 328.60. Tech major Infosys was trading at Rs 2,714.10 up 0.44% from its previous close of Rs 2,702.15. Cigarette major ITC was trading at Rs 270.05 up 1.39% from its previous close of Rs 266.35. Hindustan Lever was trading at Rs 238.25 down 0% from its previous close of Rs 238.25. Top gainers on the BSE Midcap: BF Utilities, Sun Pharma Advance Research, Bajaj Finserv, Godrej Indsutries and Tata Tea were up 4-11%. Top losers on the BSE Midcap: Aban Offshore, Gee Kay Finance, Hind Nat Glass, MTNL and Great Offshore were down 3-17%. Top gainers on the BSE Smallcap: Henkel India, Ushdev International, Tata Coffee, JK Tyre & Ind and Supreme Infra were up 6-9%. Top losers on the BSE Smallcap: Graphite India, Elpro International, Jindal Worldwide, JMD Telefilms and Indian Metals were down 3.5-5.5%.  Nifty trades in narrow range; Bharti, Idea top gainers At 10:52 hours IST - the benchmark Nifty was trading in a narrow range of 5160-5190 due to lack of Asian cues. Asian markets were quite mixed in trade after initial sell-off. Metal and private financial companies' shares were under pressure. Heavyweight Reliance Industries was down over 0.5%, which weighed a bit on the markets. Cairn India, M&M, Unitech and Tata Motors were other losers. However, technology, capital goods, telecom, healthcare and cement companies' shares were supporting the markets. Bharti Airtel was the leader on the Nifty, up over 3%. SBI and DLF were marginally in green ahead of their fourth quarter numbers. The Sensex was trading 17321, up 55 points and the Nifty was at 5189, up 10 points. The Nifty May future was trading with 8 points premium. About 1471 shares advanced while 1437 shares declined on the BSE. Nearly 374 shares were unchanged. Aban Offshore (down 16%), Bajaj Finserv, Alok Industries, JSW Steel, SBI, Axis Bank, Bharti Airteland Tata Steel were the most active shares on the bourses. Aban Offshore said its Pearl has sunk in Venezuela. Experts believe that the company was likely to see revenue loss of USD 120 million. Nifty rangebound; Bharti, ITC up, ICICI Bk, RIL dip The benchmark Nifty started the day on a flat note with negative bias. Weak global cues were weighing on the markets to some extent. Otherwise overall the markets were witnessing rangebound trade. All sectors were seeing mixed trade. At 9:02 hours IST, the Nifty was trading at 5,164, down 15 points and the Sensex was at 17,229, down 36 points. About 296 shares advanced while 404 shares declined on the NSE. Among the frontliners, Idea, Cairn, Tata Steel and Jindal Steel & Power were losers while Bharti Airtel, ITC and HUL were gainers in early trade. Aban Offshore plunged 16%, as its Pearl sunk in Caribbean. Experts believe that its FY11 revenue loss is likely at USD 120 million. MTNL tumbled 5% on disappointing results. Its net loss increased to Rs 1,573.7 crore from net loss of Rs 894.9 crore (QoQ). Parsvnath Developers lost 3.6%. IT Department initiated search action against Parsvnath, reports CNBC-TV18 quoting sources. Shree Renuka Sugars and Bajaj Hindusthan fell 0.6-1%. Bajaj Finserv lost 3.5% on profit booking. Newly listed - Nitesh Estates fell 2.4%, which had fallen 5% on day one. Talwalkars Fitnesss fell 1.4% on profit booking. Ballarpur Industries rose 3%. Everest Kanto and Exide Industries were up 1% each. Global cues: Asian markets were trading lower. Shanghai, Hang Seng, Kospi and Taiwan were down 0.1-0.7%. Nikkei lost 1.6%.  The US markets ended down after gaining nearly 5% during last three trading sessions. Dollar index zoomed post 85. The Dow Jones Industrial Average ended down 114 points at 10783. The Nasdaq Composite was down 31 points at 2394 and S&P 500 down 14 points at 1157. Market cues: Inflation data for April will be released today. CNBC-TV18 poll sees April inflation at 9.54% as against 9.9% in March. NSE F&O Open Interest was up by Rs 3233 crore at Rs 1.32 lakh crore. Institutional action FIIs were net sellers to the tune of Rs 15.6 crore while DIIs net buyers of Rs 222 crore in cash markets on May 13, as per provisional data available on NSE website. FIIs net bought Rs 1863 crore in F&O. F&O cues: - Nifty Futures Open Interest up Rs 191 crore - Nifty Options Open Interest (OI) up Rs 3042 crore - Nifty Futures shed 7 lakh shares in Open Interest - Nifty Futures ended at par with spot - Nifty Open Interest PCR at 1.18 versus 1.19 - Nifty Puts added 27 lakh shares in Open Interest - Nifty Calls added 25 lakh shares in Open Interest - Nifty 5200 Put added 9.2 lakh shares in Open Interest - Nifty 5300 Call added 5 lakh shares in Open Interest - Nifty 5200 Call added 4 lakh shares in Open Interest - Stock Futures shed 0.5 crore shares in Open Interest