Market slips into the red in late trade
The market lost ground in late trade as index heavyweight Reliance Industries dropped and ITC slipped. The market was in the green for a better part of the day though it had pared gains after an initial surge. Banking majors plunged. IT pivotals pared gains. Consumer durable, auto, realty moved higher. BSE Mid-Cap and Small-Cap indices outperformed Sensex. The market breadth was strong. 2 out of 3 key European markets were in the red. Key Asian markets ended in the red.
The 30-share BSE Sensex provisionally ended down 101.88 points or 0.52% at 19,596.01. The broader CNX S&P Nifty was up 10.15 points or 0.17% at 5,896.70.
Banking majors declined. HDFC Bank (down 1.91% to Rs 1,655), ICICI Bank (down 2.42% to Rs 1,190), and State Bank of India (down 0.93% to Rs 2,304) edged lower.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries declined 1.2% to Rs 2,841.15.
IT stocks declined. Satyam Computer Services (down 1.52% to Rs 422.05), Infosys (down 0.15% to Rs 1,621), Wipro (down 0.07% to Rs 458) edged lower.Tata Consultancy Services rose 0.49% to Rs 987.
Consumer durables stocks surged and BSE Consumer Durable index was the major gainer from BSE's sectoral indices. Videocon Industries (up 9.41% to Rs 439.95), and Rajesh Exports (up 0.03% to Rs 855.25) edged higher.
Gitanjali Gems rose 1.79% to Rs 382 after it acquired US jewellery retail chain Rogers for an undisclosed sum, a move that will boost the company’s retail presence in India and abroad.
Larsen & Toubro (L&T) rose 0.06% to Rs 4,378.50. The company announced during market hours today it in association with Shanghai Urban Construction (Group) Corporation has secured a design & build contract valued at Rs 275 crore from Delhi Metro Railway Corporation (DMRC).
Auto stocks were in demand. Tata Motors (up 0.55% to Rs 702), Mahindra & Mahindra (up 1.92% to Rs 747), Hero Honda Motors (up 2.53% to Rs 712), and Maruti Suzuki India (up 0.39% to Rs 1,053.50) edged higher.
Bajaj Auto rose 3.39% to Rs 2,428. UBS raised its 12-month price target on the stock to Rs 3,033 from Rs 2,440, saying the company was on a recovery path with its two-wheeler business improving and competition seen easing.
Tata Steel (up 2.23% to Rs 862), Cipla (up 3.18% to Rs 186.40) and ACC (up 3.88% to Rs 1,080) edged higher.ITC (down 3.49% to Rs 198.20) edged lower.
Realty stocks gained. India's largest real estate firm by market capitalisation DLF rose 0.91% to Rs 945.10. It replaced Dr. Reddy’s Laboratories in Sensex today. Indiabulls Real Estate rose 3.15% to Rs 657.90.
The 30-share BSE Sensex provisionally ended down 101.88 points or 0.52% at 19,596.01. The broader CNX S&P Nifty was up 10.15 points or 0.17% at 5,896.70.
Banking majors declined. HDFC Bank (down 1.91% to Rs 1,655), ICICI Bank (down 2.42% to Rs 1,190), and State Bank of India (down 0.93% to Rs 2,304) edged lower.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries declined 1.2% to Rs 2,841.15.
IT stocks declined. Satyam Computer Services (down 1.52% to Rs 422.05), Infosys (down 0.15% to Rs 1,621), Wipro (down 0.07% to Rs 458) edged lower.Tata Consultancy Services rose 0.49% to Rs 987.
Consumer durables stocks surged and BSE Consumer Durable index was the major gainer from BSE's sectoral indices. Videocon Industries (up 9.41% to Rs 439.95), and Rajesh Exports (up 0.03% to Rs 855.25) edged higher.
Gitanjali Gems rose 1.79% to Rs 382 after it acquired US jewellery retail chain Rogers for an undisclosed sum, a move that will boost the company’s retail presence in India and abroad.
Larsen & Toubro (L&T) rose 0.06% to Rs 4,378.50. The company announced during market hours today it in association with Shanghai Urban Construction (Group) Corporation has secured a design & build contract valued at Rs 275 crore from Delhi Metro Railway Corporation (DMRC).
Auto stocks were in demand. Tata Motors (up 0.55% to Rs 702), Mahindra & Mahindra (up 1.92% to Rs 747), Hero Honda Motors (up 2.53% to Rs 712), and Maruti Suzuki India (up 0.39% to Rs 1,053.50) edged higher.
Bajaj Auto rose 3.39% to Rs 2,428. UBS raised its 12-month price target on the stock to Rs 3,033 from Rs 2,440, saying the company was on a recovery path with its two-wheeler business improving and competition seen easing.
Tata Steel (up 2.23% to Rs 862), Cipla (up 3.18% to Rs 186.40) and ACC (up 3.88% to Rs 1,080) edged higher.ITC (down 3.49% to Rs 198.20) edged lower.
Realty stocks gained. India's largest real estate firm by market capitalisation DLF rose 0.91% to Rs 945.10. It replaced Dr. Reddy’s Laboratories in Sensex today. Indiabulls Real Estate rose 3.15% to Rs 657.90.
Labels: Nifty.Sensex
posted by SY at 6:31 PM
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