Nifty tests 5050; Shanghai down 3%

At 12.11 hrs IST, the Nifty was hovering around 5050 mark with negative bias. The selling pressure continued after trading in a narrow band of 5080-5100 for almost an hour. The bears dragged the Nifty back to 5050 levels and broke even yesterday's low of 5056.
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May 06, 2010, 12.23 PM | Source: Moneycontrol.com

Nifty tests 5050; Shanghai down 3%

At 12.11 hrs IST, the Nifty was hovering around 5050 mark with negative bias. The selling pressure continued after trading in a narrow band of 5080-5100 for almost an hour. The bears dragged the Nifty back to 5050 levels and broke even yesterday's low of 5056.

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Nifty tests 5050; Shanghai down 3%

At 12.11 hrs IST, the Nifty was hovering around 5050 mark with negative bias. The selling pressure continued after trading in a narrow band of 5080-5100 for almost an hour. The bears dragged the Nifty back to 5050 levels and broke even yesterday's low of 5056.

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11:52
Nifty tests 5050; Shanghai down 3%
At 12.11 hrs IST, the Nifty was hovering around 5050 mark with negative bias. The selling pressure continued after trading in a narrow band of 5080-5100 for almost an hour. The bears dragged the Nifty back to 5050 levels and broke even yesterday's low of 5056.

Selling was seen in metal, auto, capital goods, realty, power and banking stocks. Buying was only seen in pharma stocks.

The weakness still persist in Asia led by Shanghai market which was down 3%. Asian markets barring Shanghai were down 1.5-2%.

The BSE Smallcap index outperformed major indices and was trading in the green. The BSE Midcap index was down 0.5%.

The Sensex was down 182.61 points or 1.07% at 16905.35, and the Nifty down 65.75 points or 1.28% at 5059.15. About 1204 shares advanced, 1697 shares declined, and 367 shares were unchanged.

In the largecap space, Cipla, Suzlon Energy, Ranbaxy Labs, HUL and Sun Pharma were up 1.5-2.7%. On the losing side, Tata Motors, Jindal Steel, Ambuja Cements, Cairn India and HDFC were down 2-2.5%.

Index heavyweight Reliance was trading at Rs 1,018.25 down 0.24% from its previous close of Rs 1,020.75. Tech major Infosys was trading at Rs 2,670.50 down 0.64% from its previous close of Rs 2,687.80. Refinery major HPCL was trading at Rs 328.60 down 0.03% from its previous close of Rs 328.70

Hindustan Lever was trading at Rs 232.55 up 1.62% from its previous close of Rs 228.85. Cigarette major ITC was trading at Rs 258.50 down 1.58% from its previous close of Rs 262.65.

Top gainers on the BSE Midcap: STC India, Dredging Corp, Thomas Cook, HT Media and Brigade Enterprises were up 3-5%.

Top losers on the BSE Midcap: Gee Kay Finance, Jain Irrigation, Hing Nat Glass, Sintex India and Aban Offshore were down 2-3%.

Top gainers on the BSE Smallcap: GRUH Finance, Uflex, Hyderabad Industries, Zylog Systems and Fem Care Pharma were up 6-14%.

Top losers on the BSE Smallcap: Spice Mobiles, DCM Shriram Con, Solvay Pharma, DCM Shriram Ind and Modern India were down 3.5-5%.

10:42
At 10:36 hours IST, the benchmark Sensex slipped a bit further on the back of sell-off in capital goods, auto and telecom companies' shares. Metal, private financial, cement, power and select technology companies' shares were also under pressure. The Nifty was struggling at the 5100 level on further fall in Asian markets.

Read More »

09:00
The benchmark Nifty started the day on negative note for third consecutive day. Rising debt concerns in PIIGS countries in Eurozone have been putting pressure on global markets.

Read More »

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Nifty tests 5050; Shanghai down 3%

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