Nifty ends lower as oil hits $96/bbl

The benchmark Sensex shed about 100 points amid volatility and the Nifty slipped below 5450 level at 14:58 hours, which has been moving in a range of 5400-5500 since previous week. Fall in European markets and rise in crude oil prices could be the reason behind this sell-off.

Crude oil was trading at USD 96.07 a barrel, up by USD 2.5 over previous closing price. European markets like Britain's FTSE was down 0.8%, France's CAC down 0.25% and Germany's DAX down 0.45%.

Financial, technology, infrastructure and realty companies' shares were pulling the markets down. Ranbaxy Labs, ONGC, ITC, Bajaj Auto and Tata Steel too were down.

Shares of India's largest lender SBI tanked 4% followed by ICICI Bank, HDFC Bank, Axis Bank and PNB with 1-1.5% fall. IDFC plunged over 3%. DLF from realty pack slipped 3%.

Infosys, TCS and Wipro from technology pack were down 1-2%. NTPC, BHEL and Jaiprakash Associates declined 1.5-2%.

However, Anil Dhirubhai Ambani Group (ADAG), cement and auto companies' shares were supporting the markets. Reliance Industries, HDFC and Sterlite Industries were gainers.

The 30-share BSE Sensex was trading at 18,175, down 121 points and the 50-share NSE Nifty fell 36 points to 5,433. About 467 shares advanced as against 821 shares declined on National Stock Exchange.

However, Reliance Infrastructure shot up 11%. Hero Honda, Reliance Communications, HDFC, Sterlite Industries, Reliance Capital and Dr Reddy's Labs gained 1.5-3%. Hero Honda surged 5%.

In midcap space, State Bank of Bikaner, State Bank of Mysore, State Bank of Travancore and Man Infra rallied 17-20%. Bajaj Finserv was up 6.62%.

However, Radico Khaitan, Aurobindo Pharma, Kalpataru Power, Punj Lloyd and PTC India fell 5-9%.

In smallcap space, Hexaware Tech, Balkrishna Inds, Goodyear, Prraneta Inds and Geodesic were up 6% while A K Capital Services, JK Cement, KRBL, KPR Mill and Mafatlal Ind slipped 6-12%.