January 10, 2013 / 16:41 IST
Moneycontrol Bureau
The lacklustre market finally ended in the red after opening with a 100-point gap up. The entire day was marred by profit booking across sectors. Midcap sector, which had been outperforming Sensex and Nifty, too had a disastrous second day. Volumes remained high at RS 1.5 lakh crore.
The 30-share BSE Sensex closed 3.04 points down or 0.02% at 19663.55, and the Nifty down 2.85 points or 0.05% at 5968.65.
Benchmark indices failed to take advantage of a positive Asian market, which were up on positive Chinese data. Infosys' third quarter numbers and the impending with IIP data are key triggers for market tomorrow. Crucial ECB meet later in the day will refdlect on the close of Europe, which will have an impact on tomorrow's trade.
The oil and gas sector had a decent run after the oil ministry moved a proposal to raise diesel prices to the cabinet. Oil India closed up 3.71 percent at Rs 493.55. With 3.18 percent gains, ONGC was on top of the heap on Sensex. However, BPCL, HPCL, Reliance were down between 0.03 percent and 1.69 percent.
Meanwhile, Bank Nifty moved 0.6 percent at close after the Cabinet Committee on Economic Affairs approved infusion of Rs 12,517 crore into public sector banks.
Technology stocks were down ahead of Infosys' third quarter earnings tomorrow. IT bellwether Infosys was down 0.34 percent while TCS lost 1.35 percent.
Metals stocks closed in red for the third consecutive session. Tata Steel, Sterlite and Hindalco fell 0.6-1.5 percent.
State-owned power equipment maker BHEL tanked 2 percent. Housing finance company HDFC and FMCG major Hindustan Unileverl declined 0.7 percent each.
Telecom operator Bharti Airtel was down 1 percent as sources say Department of Telecommunication has issued one-time fee demand notice to telecom companies. According to notice, sources say the DoT has asked Bharti Airtel to pay one time fee of Rs 5,200 crore.
State-owned oil & gas producer ONGC closed near day's high, rising 3.41 percent to close at Rs 301.90.
Public sector lender State Bank of India was up 0.7 percent after Rs 12,200 crore bank recapitalisation proposal cleared by CCEA.
Commercial vehicle major Tata Motors gained for the second consecutive session, rising 2 percent. Its market cap crossed the Rs 100,000 crore joining what is now a 14-member club that also includes Reliance Industries, ONGC and Tata Consultancy Services.
Arshiya International fell 20 percent for second day on lay off of top level executives
