Mumbai: The BSE Sensex and NSE Nifty were completely lacklustre in trade after shedding all gains. Endless concerns in Eurozone and rupee near all-time low kept investors away from risky assets. Even the market breadth turned neutral.
The BSE Bankex too shed all gains, which was up 1.77 per cent at one point of time today. Top private sector lender ICICI Bank tanked 1.4 per cent and its rival State Bank of India was down just 0.17 per cent whereas HDFC Bank gained 0.8 per cent.
The NSE benchmark fell 1.5 points to 4,856.75 while the BSE benchmark rose nearly 6 points to 16,035.84. The Indian rupee was trading at 54.54 to the dollar.
Shares of Larsen & Toubro, largest engineering and construction firm by sales in India crashed 4 per cent, topping the selling list. State-owned BHEL was down 1.4 per cent.
Top telecom operator Bharti Airtel shaved off its all gains as the company cut 3G mobile data prices.
Among other largecaps, M&M, ONGC, Cipla, Bajaj Auto, Tata Power and Hindalco were down 1.4-2.75 per cent.
However, index heavyweight Reliance Industries was quite supportive since early trade, rising 1 per cent. Even cigarette major ITC stayed 2.7 per cent higher.
Housing finance company HDFC too maintained its morning gains, moving up 2 per cent.
In the second line shares, Pantaloon Retail, Voltas, Birla Corp, Blue Star and Kalpataru Power rallied 4-7 per cent whereas Everonn Education, Fairfield Atlas, Gokaldas Export, Essar Shipping and Orbit Corporation tanked 8-13 per cent.
At 14:11 hours IST: Nifty, Sensex turn flat; L&T, ONGC, ICICI, TCS drag
The BSE Sensex and NSE Nifty erased all gains following further fall in European markets. Technology, capital goods and healthcare stocks added more pressure on the market. The fall in index majors ONGC and ICICI Bank too weighed.
The BSE benchmark was down just 10.53 points to 16,019.56 and the NSE benchmark slipped 3.5 points to 4,854.75. The broader markets also shed gains.
France's CAC, Germany's DAX and Britain's DAX fell 0.6 per cent each and euro was at four-month low against US dollar due to endless concerns over Greece and fears of contagion to other countries in Eurozone.
Country's largest engineering and construction company by sales Larsen & Toubro crashed 3.6 per cent while state-owned BHEL dropped 1 per cent.
TCS, India's largest software services exporter tanked nearly 2 per cent while its rivals Infosys and Wipro were down 0.5-1 per cent.
Top private sector lender ICICI Bank was down 0.77 per cent whereas rivals State Bank of India and HDFC Bank gained 0.4 per cent and 0.85 per cent, respectively. Housing finance company HDFC was up 1.7 per cent.
Top utility vehicle maker Mahindra & Mahindra tumbled 3 per cent and second largest two wheeler major in India Bajaj Auto was down 1.4 per cent.
Drug makers Cipla and Sun Pharma were down 3 per cent and 1 per cent, respectively. State-owned oil & gas producer ONGC tanked 1.7 per cent while Reliance Industries rose 0.9 per cent.
However, cigarette major ITC stayed quite strong, rising 2.7 per cent on valued based buying.
At 12:49 hours IST: Sensex, Nifty off day's high on weak European markets
The BSE Sensex and NSE Nifty shed somewhat gains in afternoon trade due to fall in L&T, ICICI Bank, ONGC and technology stocks. Weak opening of European markets too added somewhat pressure on the market. However, consistent buying interest in FMCG, metals, select financials and index heavyweight Reliance Industries helped the market.
The BSE benchmark rose 0.48 per cent or 76.69 points to 16,106.78 and the NSE benchmark went up 22.65 points or 0.47 per cent to 4,880.90. The broader markets too came off day's high - the BSE Midcap and Smallcap indices were up 0.5 per cent each.
France's CAC, Germany's DAX and Britain's FTSE were moderately lower in early trade as Greece newsflow continued to drive risk aversion. Yesterday agencies reported that ECB suspended operations with some Greek banks. ECB said Greek banks moved to Emergency Liquidity Assistance and normal operations would resume once these banks got capitalized. Greece will hold new election on June 17 after failure of making several attempts to form coalition government.
Back home, shares of country's largest engineering and construction company Larsen & Toubro extended fall, losing 2 per cent. TCS, India's top software services exporter and even its rival Wipro fell over 1 per cent.
Drug maker Cipla topped the selling list, falling over 3 per cent. Among others, M&M, Sun Pharma, Bajaj Auto, GAIL and ONGC were down 0.5-1.5 per cent.
Top private sector lender ICICI Bank too turned lower, trading marginally down whereas its rival State Bank of India was up just 0.5 per cent. HDFC Bank and HDFC gained 1.34 per cent each.
However, cigarette major ITC stayed sharply higher, rising 2.6 per cent. Index heavyweight and oil & gas producer Reliance Industries retained its 1 per cent upmove.
At 11:46 hours IST: Short covering holds Sensex gains; Bajaj Auto, L&T down 1 per cent
The BSE Sensex continued to hold about 150 points gains led by short covering. Meanwhile the NSE Nifty remained above the 4900 level quite nicely led by support from stocks like Reliance Industries and ITC. SBI, Bharti Airtel and HDFC Bank too were quite supportive.
The BSE benchmark moved up 150 points or 0.94 per cent to 16180 and the NSE benchmark rose 45.45 points or 0.94 per cent to 4,903.7.
Shares of ITC and Bank of Baroda topped the buying list, rising 3.7 per cent and 3.4 per cent, respectively. Ambuja Cements, DLF and SAIL were up 2.5-3 per cent.
Among banking and financial stocks, HDFC Bank, HDFC and State Bank of India rallied 1-2 per cent while ICICI Bank was up just 0.3 per cent.
Oil & gas producer Reliance Industries and top telecom operator Bharti Airtel climbed 1.3 per cent each.
However, India's largest enginnering and construction company by sales Larsen & Toubro dropped over 1 per cent. Bajaj Auto, country's second largest two-wheeler maker fell 1.3 per cent ahead of quarterly numbers today.
Software services provider TCS and drug maker Cipla were down 0.5 per cent each.
The broader markets too gained nearly 1 per cent. The market breadth stayed in favour of advances; about three shares gained for every share falling on the National Stock Exchange.
In the second line shares, AstraZeneca shot up 14 per cent. Dish TV India, Hexaware Tech, Fresenius Kabi and VST rallied 5-8 per cent whereas Blue Star, Pantaloon Retail, Tulip Telecom, Kalpataru Power and Infotech Enterprises fell 3-4 per cent.
Asian markets extended gains; Shanghai Composite rose 1.4 per cent and Taiwan Weighted gained 1.7 per cent. Hang Seng and Nikkei went up 0.7 per cent each while Kospi and Straits Times were up 0.6 per cent each.
At 10:29 hours IST: Nifty stays above 4900 with 1 per cent gain; ITC, DLF top buy list
The BSE Sensex and NSE Nifty stayed 1 per cent higher in morning trade led by short covering in most beaten down stocks. Banks, metals, auto and FMCG stocks saw buying interest today. Index heavyweight Reliance Industries gained 1 per cent.
The BSE benchmark rose 178.78 points or 1.12 per cent to 16,208.87, supported by 27 components. Meanwhile, the NSE benchmark moved up 53.8 points or 1.11 per cent to 4,912.05.
Amit Gupta, head- derivatives of ICICI Direct said, "For intraday traders, 4,950 is going to be critical immediately. A close above that possibly may give you an indication that finally we are going to hit 5,050,” he adds.
FMCG majors ITC and HUL gained nearly 3 per cent and over 1 per cent, respectively. Realty major DLF rallied 3 per cent.
Country's largest lenders State Bank of India, ICICI Bank and HDFC Bank were up 1.5-2 per cent. Housing finance company HDFC rose 1.6 per cent.
Top telecom operator Bharti Airtel moved up over 1 per cent and state-owned capital goods major BHEL went up 1.5 per cent.
However, shares of BPCL slipped 1.4 per cent on profit booking. HCL Tech, ACC, Grasim, Dr Reddy's Labs, TCS, L&T and Infosys were marginally lower.
Asian markets too gained on Thursday after taking a beating yesterday, but the situation has not changed in Europe and the problems in Greece still persist. Yesterday agencies reported that European Central Bank has suspended operations with some Greek banks. The central bank said Greek banks were moved to Emergency Liquidity Assistance, so normal operations would resume once these banks got capitalized.
At 9:15 hours IST: Sensex, Nifty up nearly 1 per cent; Asian mkts gain too
The BSE Sensex and NSE Nifty saw nice pull back on Thursday morning, rising nearly 1 per cent following upmove in Asian markets. Somewhat short covering was seen as the market had fallen in previous seven out of nine sessions due to Greece political crisis and depreciation in rupee.
The BSE benchmark rose 123.03 points or 0.77 per cent to 16,153.12 led by 26 stocks. Meanwhile, the NSE benchmark crossed the 4900 level, which was up 39.55 points or 0.81 per cent at 4,897.80.
The Indian rupee too recovered some losses, rising 0.28 per cent to 54.34 a dollar.
Asian markets like Shanghai, Hang Seng, Kospi, Taiwan and Straits Times moved up 0.4-1.3 per cent. Nikkei was flat after recovery from day's low. However, Greece newsflow continued to drive risk aversion. Agencies reported yesterday that ECB suspended operations with some Greek banks; the central bank said normal operations will resume once these banks capitalized.
Back home, frontliners like ITC, HDFC, DLF, Bharti Airtel, Bank of Baroda, SBI, Axis Bank, SAIL, Hindalco, JSPL, L&T, Reliance Industries, ICICI Bank, PNB, Ranbaxy and HUL gained 1-2 per cent.
However, Tata Motors dropped another 1 per cent due to disappointing global sales data for April. The stock had fallen 7.4 per cent yesterday.
The CNX Midcap Index went up 67 points or 0.93 per cent to 6,966. About three shares advanced for every share falling on the National Stock Exchange.
In the second line shares, Dish TV was up 2.6 per cent after fourth quarter numbers.
Deccan Chronicle and Adani Port rallied 3-4 per cent.
Educomp Solutions gained 3 per cent as SEBI disposed case against company on Rs 1 lakh consent fee.
Delta Corp, Kingfisher, VIP Industries, IRB Infrastructure, Manappuram Finance and Harrisons Malyalam were up 1-2 per cent.
Hexaware, KPIT Cummins Mahindra Satyam (ahead of Q4 numbers) and JP Power (ahead of Q4 numbers) went up 1-2 per cent.
However, 3i Infotech was down 2 per cent.
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