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Nifty southbound; ONGC, RIL, Bharti, DLF, RComm drag

Published on Tue, Nov 17, 2009 at 14:37   |  Updated at Tue, Nov 17, 2009 at 15:10  |  Source : Moneycontrol.com

At 14:34 hours IST, the Nifty continued to trade lower on the back of selling in oil & gas, banking, telecom, realty, power, capital goods and select cement stocks. The Sensex remained below the 17,000 mark. However, buying continued in TCS, Infosys, Wipro, SAIL, Reliance Capital, Hero Honda, HUL and HCL Tech.

On the global front, European markets were down 0.5% each. Asian markets closed lower barring Shanghai. Nikkei, Straits Times, Taiwan Weighted and Kospi fell 0.4-0.8%. Hang Seng was down 0.13% while Shanghai gained 0.24%.

The Sensex was down 87 points to 16,944 and the Nifty fell 29 points to 5,029. The broader indices were flat in trade. About 484 shares advanced while 761 shares declined on the NSE.


The markets reported total turnover of Rs 65,000 crore, so far and this included Rs 51,000 crore from the F&O segment.

In the oil & gas space, ONGC tumbled 2.85% and Reliance Industries was down 1.43%. BPCL, HPCL, GAIL and Cairn India were down 0.4-1%.

SBI and ICICI Bank fell 1.2% each in the banking space. Axis Bank, Bank of Baroda and PNB were down 0.5-0.9%.

In the telecom pack, Tata Teleservices, Reliance Communications, Bharti Airtel, MTNL, Idea Cellular and Tata Communication declined 1.3-2.5%.

DLF was down 2.73% and Unitech was down 1.22% in the realty space.

Lanco Infratech, GMR Infra, Neyveli Lignite, ABB, Tata Power, Reliance Power and Torrent Power fell 1-2.8% in the power space. Reliance Infrastructure, Suzlon Energy, Siemens and Power Grid Corp slipped 0.5-0.8%.

Kingfisher Airlines lost 5.5%, as Committee of Secretaries meeting on FDI in aviation cancelled. Jet Airways and SpiceJet fell 2-2.5%.

In the midcap space, BF Utilities shot up 14.37%. Spice Communications, Bajaj Finserv, Allcargo Global and Redington were up 4-7% while KGN Industries, Asian Star, Deccan Chronicle and IVRCL Infrastructure fell 4.5-6%.

In the smallcap space, Gulf Oil Corp, Henkel India, Lok Housing, Take Solutions and Ajmera Realty gained 9-14% while Sanwaria Agro, Zylog Systems, Hindustan Motors, Manappuram and VIP Industries declined 4.5-5.5%.

Continued on the next page....

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