HC verdict against RIL, -ve global cues spook mkts

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Nifty breaks 4500; RIL, Sterlite, RPL, L&T, SAIL down 4-8%

At 14.24 hrs IST - the markets slipped further as sell-off continues in oil & gas, capital goods, auto and metals stocks. The Nifty has tested the 4500 on the down side while the Sensex is now trading well below 15000 mark. Sterlite Industries topped the loser list in the Sensex as base metals have witnessed profit booking after stupendous rally. Reliance Industries continued to slide further post High Court judgement not in favour of the company.

The Sensex was down 355.29 points or 2.33% at 14882.65, and the Nifty down 75.30 points or 1.64% at 4508.10. About 822 shares advanced while 1963 shares declined on the BSE. Nearly 360 shares were unchanged.

Top losers on the Sensex were Sterlite at Rs 664 down 7.5%, Reliance at Rs 2,189.5 down 7.1%, Larsen at Rs 1507 down 4.44%, Hindalco at Rs 95.85 down 4.58% and M&M at Rs 748.4 down 4.4%

On the sectoral front, BSE Oil & Gas Index fell 4.3%. Metal and Capital Goods indices lost 3.3-3.6%. Auto Index fell 2.4%. Realty, TECk, Healthcare, IT and Power indices declined 1-1.8%.

In the oil & gas space, Reliance Industries and Reliance Petroleum were down 7.5% each. Cairn India was down 2.5%.

In the metals pack, Sterlite, JSW Steel, Hindalco, Tata Steel and SAIL plunged 4.4-7.8%.

Among the capital goods stocks, L&T, Areva T&D, Punj Lloyd, Siemens, BHEL and ABB were down 1.5-4.5%.

In the auto space, M&M, Tata Motors, Bharat Forge, Hero Honda, Maruti Suzuki and Ashok Leyland slipped 2-4%.

Sugar stocks like Bajaj Hindusthan, Balrampur Chini, Dwarikesh Sugar, EID Parry, KCP Sugar, Oudh Sugar Mill, Rajshree Sugars, Sakthi Sugars, Shree Renuka, Triveni Engg, Upper Ganges and Uttam Sugar lost 3-6%.

On the global front, European markets like FTSE, CAC and DAX fell 2% each. The US futures like Dow Jones and Nasdaq futures declined over 1%.

Mkts slip further; oil, cap goods, metal, auto indices lose

At 13.46 hrs IST- the markets continued to trade weak. Oil & gas, capital goods, auto and metal stocks were witnessing heavy selling pressure. Stocks like Reliance, Infosys, ICICI Bank, L&T and HDFC were the negative contributors to the Sensex. However, some buying interest was seen in FMCG and banking stocks.

The Sensex was down 327.54 points or 2.15% at 14910.40, and the Nifty down 59.30 points or 1.29% at 4524.10. The broader indices fell over 1% each.

About 876 shares advanced while 1906 shares declined on the BSE. Nearly 363 shares were unchanged.

On the sectoral front, BSE Oil & Gas index slipped 2.5%. Capital Goods, Auto and Metal indices lost 2-2.8%.

Top losers on the Sensex were Sterlite at Rs 664.95 down 7.4%, Reliance Industries at Rs 2,195.50 down 6.84%, Tata Power at Rs 1,119 down 4.64%, Tata Motors at Rs 342.05 down 4.09% and M&M at Rs 753.50 down 3.8%.

Tech major Infosys was trading at Rs 1,705.00 down 1.33% from its previous close of Rs 1,727.95.

Top losers on the BSE Midcap - IVRCL Infrastructure, Kirloskar Brothers, IBN18 Broadcast, Welspun Gujarat and Shree Renuka were down 6-7%.

Top losers on the BSE Smallcap - Ugar Sugar Work, Ankur Drugs, Sanghvi Movers, Man Industries and Electrotherm were down 6-10%.

However, top gainers on the Sensex were ONGC at Rs 1,165 up 3.39%, Reliance Infrastructure at Rs 1,217.10 up 3.23%, Ranbaxy Labs at Rs 289.20 up 2.44%, NTPC at Rs 225.30 up 1.92% and HUL at Rs 259.40 up 1.43%.

On the global front, European markets like FTSE, CAC and DAX lost 1.6-2%.

Sensex tests 15K; RIL, RPL, Sterlite, L&T, Infy, Bharti dip

At 12:49 hours IST, the benchmark indices extended losses as Reliance Industries, Reliance Petroleum, Bharti, Infosys and ICICI Bank were under pressure. Among the sectors, metal, capital goods and auto were seeing selling pressure. On the global front, European markets opened lower and were down 1% each, which also weighed on the markets.

The 50-share NSE Nifty slipped below 4550 and was down 51 points, to 4,532. The 30-share BSE Sensex lost 245 points, to 14,993. Among the broader indices, BSE Midcap and Smallcap indices fell 1% each.

Also Read - Ambani gas case: HC rules in RNRL's favour

On the sectoral front, Oil & Gas Index declined 3.7%. Metal, Auto and Capital Goods indices fell 2-2.7%. TECk, IT, Power and Healthcare indices slipped just 0.6-0.9%. However, FMCG and Bank indices gained 0.5% each.

In the largecaps, Sterlite, Reliance Industries, Tata Power, Tata Motors, Tata Steel and Reliance Petroleum plunged 3-7%. However, Reliance Infrastructure, NTPC, ONGC, Ranbaxy Labs, TCS, Reliance Power, Axis Bank and Cipla gained 2-6%%.

In the midcap space, UTV Software, Engineers India, Jai Corp, Emami and Bayer Cropscience gained 4-7% while IBN18 Broadcast, GSPL, Kirloskar Brothers, IVRCL Infrastructure and Bajaj Hindusthan declined 5-7%.

In the smallcap space, Stride Arcolab, Ruchi Soya, BASF, Jyothy Labs and Panoramic Universal were up 6-9% while Ugar Sugar Work, Ankur Drugs, Man Industries, Andhra Cement and Electrotherm fell 6-10%.

Top percentage gainers - RNRL was up 20.33%. Insecticides, Gulshan Poly, Todays Writing and Voith Paper were up 10-11%.

Mkts lose ground again; RIL, RPL slip 5%, Rel Power up 6%

At 11:43 hours IST, the markets were trading lower majorly because of Reliance Industries (RIL) and Reliance Petroleum. The Bombay High Court on Monday upheld the maintainability of RNRL's plea and asked RIL to supply gas to the latter to the tune of 28 mmscmd for 17 years at a price of USD 2.34 per mmbtu. RIL and Reliance Petroleum plunged 5% each.

However, RNRL (Reliance Natural Resources) shot up 19%. Shares of ADAG (Anil Dhirubhai Ambani Group) companies like Reliance Power was up 6% and Reliance Infrastructure gained 3%.
 
Among the other frontliners, metal, auto and capital goods stocks were also putting pressure on the markets. However, buying in shares of FMCG, cement, select banking and power companies along with ONGC was helping the benchmark indices.

The Sensex was down 191 points, to 15,046 and the Nifty fell 37 points, to 4,545. The broader indices were down 0.7% each.

The market breadth was negative; about 964 shares advanced while 1776 shares declined on the BSE. Nearly 405 shares were unchanged. 

Mkts choppy post recovery; banks, cement support

At 11:02 hours IST, the markets showed smart recovery from their day's low and were trading with some volatility. Banking, realty, cement and select power stocks along with ONGC were helping the markets.

However, selling in Reliance Industries, Sterlite, Bharti, NTPC, Tata Power, L&T, Sun Pharma, Tata Steel, SAIL, BHEL, M&M, Hero Honda, Maruti and Siemens capped the gains.

The Sensex was trading at 15,236, down just 1 point while the Nifty rose 4 points, to 4,587. The broader indices were flat.

In RNRL-RIL case, Bombay High Court (HC) ruled in favour of RNRL. RNRL will get assured supply of 28 mmscmd. Reliance Industries was down over 4%. However, RNRL shot up 22% and Reliance Power gained 4%.

HC asked RIL to ensure gas supply to RNRL for 17 years at $2.34/MMBTU. Bombay HC gave one-month time period for both parties to complete agreement.

Nifty struggles @4550; RIL, Sterlite, NTPC, Bharti, L&T dip

At 10:35 hours IST, the benchmark indices were trading lower on the back of selling in metal, telecom, power, auto, FMCG and select capital goods stocks. Reliance Industries, ICICI Bank and HDFC were also the losers. The Nifty was struggling at the 4550 level.

However, buying was seen in technology, cement and in stocks like ONGC, SBI, Suzlon, Ranbaxy, Axis Bank and BPCL.

The Sensex was trading at 15,102, down 135 points and the Nifty lost 35 points, to 4,548. Among the broader indices, BSE Midcap and Smallcap indices fell 0.9% each.

The stock market may consolidate and give up some gains around the Nifty 4,650 level, according to trader Atul Suri. He added that 4,650 remained an important technical level for the Nifty and that one can expect a correction ahead.

 

Suri also added that the Nifty was in good stead till the point it held 4,100 levels. "If the Nifty breaks past 4,650 with good volumes, it can go to 5,300."

The market breadth was weak; about 864 shares advanced while 1862 shares declined on the BSE. Nearly 419 shares were unchanged.

Sesa Goa, RNRL, Satyam, Suzlon Energy, Reliance Industries and Unitech were the most active shares on the bourses.

In the midcap space, Engineers India, UTV Software, MindTree, Central Bank and Rei Agro were up 3-9% while IBN18 Broadcast, JM Financial, Puravankara Projects, Patel Engg and JSW Steel fell 4.5-6.6%.

In the smallcap space, Bata India, GIC Housing Finance, Nucleus Software, Balmer Invest and Satra Propertie gained 5-6% while Foseco India, Ugar Sugar Work, Andhra Cement, Man Industries and Jindal Drilling declined 5-15%.

Jagran Prakashan gained 2.4%, as 20 lakh shares of the company changed hands on BSE, NSE at Rs 82/share.

Mkts slip on weak Asian cues; metals, infrastructure down

The markets opened on a weak note following negative Asian cues and continued to witness profit booking. Metal, telecom, realty, capital goods and auto stocks were under pressure.

Among the frontliners, Sterlite, Cairn, DLF, Hindalco, ABB, Tata Steel, Reliance Infrastructure, Reliance Industries, L&T, M&M, Tata Motors and ICICI Bank were down while Suzlon, TCS, Reliance Power, Ambuja Cements, Infosys, BPCL and ACC were the gainers.

At 9:56 am, the 50-share NSE Nifty fell 45 points, to 4,537 and the 30-share BSE Sensex declined 170 points, to 15,067. The CNX Midcap and BSE Smallcap indices lost 0.79% each, to 5,509 and 5,966, respectively. 

Midcap space

Bata India was up 7%. Tea stocks like Mcleod Russel and Harrisons Malyalam gained over 4%.

However, Satyam was down 1%. Aban Offshore slipped 2.5% and was down 20% last week.

JP Hydro, GVK Power and GMR Infrastructure were down 2-4%.

Indian Hotels jumped 3%, as the company is going to buy stake in Elel Hotels for Rs 680 crore.

Global cues:

Asian markets were trading weak. Taiwan Weighted fell 3.6%. Hang Seng, Straits Times, Kospi and Nikkei declined 1-1.6%. Shanghai Composite was down just 0.2%. SGX Nifty lost over 1%.

The US markets moved in the later part of the day to turn Dow Jones positive YTD for the first time. The Dow Jones Industrial Average gained 28.3 points at 8,799.2.

The S&P 500 Index ended flat at 946.2 and the Nasdaq Composite was down 3.6 points at 1,858.8.

G-8 meet

Finance Ministers : There are "signs of stabilization," though "the situation remains uncertain."

G-8 ministers met to shape an agenda leaders meeting July 8-10 in Italy.

Market cues:

-MFs net buy Rs 299 crore in equities on June 11
-NSE F&O Open Int down by Rs 372 crore at Rs 81,369 crore
-FII F&O turnover at 11.6% of total F&O turnover
-Cumulative FII positions as % of gross market positions at 36.96%
-FIIs net buy Rs 469 crore in cash markets on June 12 (prov)
-DIIs net sell Rs 250.7 crore in cash markets on June 12 (prov)
-FIIs net buy Rs 75.8 crore in F&O

F&O cues:

-Futures Open Int down by Rs 1,347 crore, Options Open Int up by Rs 974 crore
-Nifty June Futures shed 2.4 lakh, July Futures add 97,000 shares in Open Int
-Nifty June at 5-pt premium, Futures Open Int remain unchanged
-Nifty Open Int Put Call Ratio at 1.09 versus 1.17
-Nifty IVs at 37-39% levels
-Nifty Puts shed 8.95 lakh, Calls add 21.5 lakh shares in Open Int
-Nifty 4700 Call adds 9.15 lakh shares in Open Int
-Nifty 4600 Call adds 3.7 lakh shares in Open Int
-Nifty 4800 Call adds 2.93 lakh shares in Open Int
-Nifty 4400 Put sheds 5.31 lakh shares in Open Int
-Stock Futures shed 3.5 cr shares in Open Int