Market closes in deep red: Nifty breaches 4,200

After last few sessions of sluggish trade the markets saw a deep crack today and ended with some hefty losses. It was trading flat for major part of the day but saw a heavy sell off during the later part of the day. On the F&O side there were concerns of discount widening, Nifty closed with 27 points discount.

Selling was seen in scrips across indices. All the BSE sector indices closed in red, banking and oil & gas led the downtrend. Steel majors Tata Steel and SAIL closed in deep red. It was a bad day for European markets as well but most of the Asian markets ended flat.

The broader markets also ended with deep cut but the frontliners underperformed the midcap and smallcap indices. The market breadth was extremely negative and this fall has been huge volumes.

IT index which was holding in green for better part of the day gave up its gains and closed in red with moderate losses.

Sensex is down 279.08 points or 1.92% at 14255.93, and the Nifty down 86.40 points or 2.02% at 4198.25.

About 813 shares have advanced, 1688 shares declined, and 65 shares are unchanged.

The BSE Small Cap Index closed at 7,389.76 down 1.3%.

The BSE Midcap Index ended at 6,181.91 down 1.3%.

The BSE FMCG Index down 1.5% at 1,842.20. Tata Tea, Bata India, United Brewerie, ITC, Nestle closed in red.

The BSE Metal Index was down 2.2% to close at 10,414.47.  Shree Precoated, SAIL, JSW Steel, Tata Steel, Sterlite Ind were among the losers.

The BSE Health Care Index was down 1.6% at 3,785.41. Glenmark, Ranbaxy Labs, Biocon, Lupin, Novartis India  closed lower.

The BSE Capital Goods Index was down 1.6% at 10,981.01.   Carborundum, Reliance Infra, Suzlon Energy, AIA Engineering, BHEL, BEML ended lower.

The BSE Auto Index closed at 4,868.44 down 1.9%. MICO, TVS Motor, Tata Motors, MRF, Maruti Udyog among the losers

The BSE IT Index closed at 4,872.64 down 0.3%. I-Flex Solution, Financial Tech, HCL Tech, Wipro ended weak.

The BSE Bankex was down 2.9% at 7,594.85.   Oriental Bank, PNB, Canara Bank, Union Bank, Bank of India closed higher.

The BSE Oil and Gas Index closed at 7,468.53 down 3.2%.  Reliance Natura, GAIL, Petronet LNG, Reliance,  ONGC closed in red.

The NSE cash turnover was at Rs 10213.5 crore and the NSE F&O turnover was at Rs 40345.37  crore. The BSE cash turnover was Rs 5265.34 crore. Total market wide turnover was at Rs 55824.21 crore.

Market cracks: Nifty slips below 4200 mark

The markets have seen a deep cut and has moved deep in red. All BSE sector indices are trading in red. Sensex is down over 250 points and the Nifty is down nearly 100 points. Nifty has slipped below the 4200 mark.

At 14.40 pm IST, the Sensex is down 241.28 points or 1.66% at 14293.73, and the Nifty down 90.60 points or 2.11% at 4194.05.

About 856 shares have advanced, 1570 shares declined, and 77 shares are unchanged.

Market breadth is extremely negative at 1:4 in favour of declines.

Mkt loses further ground: Tata Motors, ONGC slip

The market has lost further ground and has slipped deeper into the red. Selling is seen in scrips across sectors. Among the major losers are stocks from auto, bank, oil & gas and metal sector. The only BSE sector index in green is IT. Broader markets have also slipped in red.

At 2:04 pm IST, the Sensex is down 172.35 points or 1.19% at 14362.66, and the Nifty down 70.05 points or 1.63% at 4214.6.

About 982 shares have advanced, 1433 shares declined, and 74 shares are unchanged.

BSE Midcap index is down nearly 0.7% and the smallcap is trading with a simlar loss. Oil & gas index is down 2.4% followed by metal and bank down 1.9%.

Top gainers on the Sensex are Hindalco up  1.47%, Satyam up   0.68% and Infosys up 0.60%.

Top losers on the Sensex are Tata Motors down 3.87%, ONGC down 3.05% and HDFC down 2.4%.

Top losers on the Nifty are SAIL down 3.92% and PNB down 3.45%.

Nifty futures dicount has narrowed from 10 points to around 4 points. RNRL, SAIL, IDBI, Ashok Leyland, Idea Cellular, Indiabulls, Cinemax are the major losers.

Market trades weak: Oil & gas, auto stocks drag

The markets have lost some ground and have slipped in the red. The weakness is inline with the global peers as most of the Asia is trading flat. The range has widened for the Sensex and Nifty on the downside.

At 1:00 pm IST, the Sensex is down 62.30 points or 0.43% at 14472.71, and the Nifty down 27.55 points or 0.64% at 4257.1.

About 1260 shares have advanced, 1061 shares declined, and 70 shares are unchanged.

But the midcap and smallcaps are holding up in the green. Oil & gas and auto stocks are among the top losers on the indices followed by bank and metals. Only the IT index is trading in green.

In the midcap space Geogit Financial is up 10% and Peninsula Land is up  12%.

It has been a hectic start for F&O markets. Nifty June futures are at 10 points discount. S Kumars and Peninsula are among the active stocks in the F&O side.

Top gainers on the Sensex are Satyam up 1.56%, Reliance Comm up 0.97% and HLL up 0.79%.

Top losers on the Sensex are Tata Motors down 2.57%, HDFC down 2.13% and ONGC down 1.54%.

Top losers on the Nifty are SAIL down  2.7% and BPCL down 2.26%.

Wipro is up 0.9% and the stocks has also seen a block deal. 45 lakh Wipro shares have changed hands on BSE at Rs 537.50/share

Market trades flat: Midcap, smallcaps outperform

The markets continue to be sluggish and are trading flat. At 12.03 pm IST, the Sensex is down 4.65 points or 0.03% at 14530.36, and the Nifty down 10.80 points or 0.25% at 4273.85.

However the midcap and smallcap indices have outperformed. The BSE Midcap index is up 0.8% and the smallcap index is up 0.7%. Buying is seen in select capital goods and IT stocks.

However auto, bank and oil & gas stocks are reeling under pressure.

BSE IT index is up 1.3%. Among the top gainers on the indices are Tech Mahindra up 2.77%, Mphasis up 2.65%,  Patni Computer up 2.45% and  Satyam up 1.90%.

Shasun Chemicals is an outperformer up over 8% and Punj Loyd is up over 4.4%.

Top gainers on the Sensex are Satyam up 2.12%, NTPC up 1.63% and L&T up 1.23%.

Top losers on the Sensex are Tata Motors down 2.1%, HDFC down 1.86% and HDFC Bank down 1.07%.

Top losers on the Nifty are SAIL down  2.52% and PNB down 1.76%.

Mkts witness volatility: Oil, banks down; IT, cap goods up

Market is witnessing choppy trade as oil, metal, pharma, auto and banking stocks are in red while capital goods, technology and FMCG stocks in green.

Market breadth is still holding in positive, about 1008 shares have advanced, 753 shares declined, and 62 shares are unchanged.

At 10:58 am, the Sensex is down 4.94 points at 14,530 and Nifty down 10 points at 4,274. NSE advance:decline ratio stood at 604:383.

SAIL, PNB, Tata Motors and HDFC are the top losers whereas L&T, Reliance Communication, Satyam and Hindalco top gainers.

20 lakh NTPC shares have changed hands on the BSE at Rs 162 per share. The stock is up 1.5% at Rs 162, with volumes of 8,61,321 shares. Market cap stood at 1,33,576 crore.

Nifty June Futures is trading at 10 points discount at 4,264.

Markets @ 10:18 am

Market is witnessing some selling pressure as banking, auto and telecom stocks slipped into red. Tata Motors PNB, HDFC, ICICI Bank, MTNL and VSNL are the major losers. About 796 shares have advanced, 338 shares declined, and 27 shares are unchanged.

At 10:18 am, the Sensex is down 24 points at 14,510 and Nifty down by 15 points at 4,269.

Top losers are Tata Motors, Hero Honda, HDFC, ICICI Bank, PNB, SAIL and Dabur India while L&T, Hindalco, SBI, Satyam and  NTPC are the losers.

Auto (Tata Motors, Maruti Udyog, M&M and Hero Honda), banking (PNB, ICICI Bank and HDFC Bank), pharma (Sun Pharma, Ranbaxy and Dr Reddy's Labs), metal (SAIL, Sterlite Industries and Tata Steel) and oil (ONGC, Reliance Petro, IPCL and Reliance) stocks turned into negative.

Nifty June Futures is trading at 9 points discount at 4,260.

Markets at 9:58 am

Markets opened on positive note in the morning trade following positive Asian cues and strong buying interest in NTPC and Bharti Airtel.

At 9:58 am, the Sensex was up by 43 points at 14,578 and Nifty up byb 9.3 points at 4,293.

Gainers on the bourses were SBI, NTPC, Cipla, Satyam, Bharti, BHEL and L&T while Reliance and HLL were among the major losers.

NTPC gained 2% as the company may be planning follow-on public issue to fund new power plants, according to sources.

Asian Markets

Asian stocks trading on a flat note today, with Japan's Nikkei trading slightly higher. Japan's Nikkei was up 0.60% at 18,054.41. Taiwan's Taiwan Weighted gained 0.75% or 62.63 points at 8,366.62. Hong Kong's Hang Seng advanced 0.16% or 33.63 points at 20,875.78. South Korea's Seoul Composite rose 0.26% or 4.6 points at 1,742.19. However, Singapore's Straits Times slipped 0.20% or 7.04 points at 3,565.86.

Market cues

• Final FII figure for June 4 not released
• MFs net sell Rs 37 crore (Rs 370 million) in equity on June 5
• NSE F&O Open Interest up by Rs 2,500 crore (Rs 25 billion) at Rs 56,425 crore (Rs 564.25 billion)

F&O cues

• Futures Open Interest up by Rs 1,565 crore (Rs 15.65 billion); Options Open Interest up by Rs 935 crore (Rs 9.35 billion)
• Nifty Futures add 6 lakh shares in Open Interest
• Nifty Futures at 2-point premium
• Nifty Open Interest Put-Call ratio down to 1.52 from 1.60
• Nifty Implied Volatility falls back to around 24%
• Nifty Calls add 9.3 lakh shares in Open Interest
• Nifty Puts add 5.9 lakh shares in Open Interest
• Nifty 4300 Call, Put add 2 lakh shares each in Open Int