Mkts end at day's low; Nifty below 5K; Oil Index down 2.6%

Markets @ 3:15 pm : Mkts in red: Nifty below 5K; Oil index down 2.5%

The markets slipped into the red due to selling in oil and some technology stocks. The BSE Oil & Gas Index dropped over 2%. However, metal, FMCG, banking and realty stocks are still witnessing some buying interest. The CNX Midcap slipped into the red. On the global front, European markets were trading sharply lower.

At 3:15 pm, the Sensex was down 91 points at 16,765 and the Nifty down 50 points at 4,962. Market breadth were mixed.

Markets @ 2:15 pm : Mkts choppy: Nifty slips below 5000; oil drags

The markets have given up gains and turned choppy as oil stocks lost ground, which responded to the news from Oil Ministry desk. Other indices witnessed some selling pressure though those are trading higher. Nifty is trading off day's high, down nearly 70 points from day's high. On the global front, European markets turned mixed.

At 2:15 pm, the Sensex was up 23 points at 16,883 and the Nifty down 13 points at 4,999.

Oil Ministry said that Finance Minister is not okay with sharing 57% of oil companies revenue loss. Government is not looking at hiking auto fuel prices now, they said.

FM is planning to decide on oil bond quantum soon and not seeking SLR status for bonds to oil companies. They have discussed possibility of marginal price hike but no decision yet, they said.

The BSE Oil & Gas Index was down 1.4% as selling pressure seen in
Cairn India, Essar Oil, ONGC, GAIL, BPCL, Reliance, HPCL and RNRL.

Top losers were HDFC, ONGC, ACC, Wipro, Cairn India and GAIL while gainers - Nalco, Hindalco, Reliance Infra, BHEL and JP Associates.

Metal, Capital Goods, Bankex and Realty indices were still up over 1%. IT, Pharma and FMCG gained marginally.

Markets @ 1:09 am : Markets stable

The markets have jumped up further with strong buying support from realty, metal, capital goods, banking, technology and power stocks. Midcap and small cap stocks held their gains. Market breadth remained strong, adv:dec ratio nearly 5:1.

On the global front, Asian market ended higher barring Shanghai Composite. European markets were trading strong, which added to the positive momentum.

At 1:09 pm, the Sensex was up 198 points at 17,059 and the Nifty up 44 points at 5,057. The BSE Midcap and Small Cap were up over 1.8%. About 2046 shares have advanced, 862 shares declined, and 179 shares are unchanged.

Reliance Infrastructure, Hindalco, JP Associates and Nalco were outperformers while losers - ONGC, Ranbaxy, HUL and Cairn India.

BSE Realty, Metal and Capital Goods indices surged nearly 2-3%. Power, Bankex and IT were up over 1.5%.

IFCI, Cairn India, Aishwarya Telecom, Reliance and Infosys were most active counters.

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