Nifty tests 6100; banks, telecom, realty, cap goods dip
At 11:32 hours IST - the benchmark Nifty has tested the 6100-mark on the back of further sell-off in financial, metal, telecom, realty, Anil Dhirubhai Ambani Group (ADAG) and capital goods companies' shares.
January 05, 2011 / 11:44 IST
At 11:32 hours IST - the benchmark Nifty has tested the 6100-mark on the back of further sell-off in financial, metal, telecom, realty, Anil Dhirubhai Ambani Group (ADAG) and capital goods companies' shares followed by ONGC and Infosys. Even the Sensex shed nearly 150 points on profit booking.
Heavyweights ICICI Bank and SBI lost 2.5% & 1.25%, respectively. Financials might see squeeze in their margins due to hike in interest rates on deposits. Axis Bank, HDFC Bank, PNB, Kotak Mahindra Bank, HDFC and IDFC were down 1-2.5%. DLF from realty pack lost 2%.Among other heavyweights ONGC, Infosys, Bharti, L&T and BHEL declined one percent each. Sterlite Industries from metal segment fell 2.9%; SAIL, Sesa Goa and Tata Steel lost 1-1.6%.However, indices were getting support from Reliance Industries, TCS, Wipro, Sun Pharma, Tata Power, Hindalco, M&M, JSPL, Jaiprakash Associates and Dr Reddy's Labs.The 30-share BSE Sensex fell 125 points to 20,373 and the 50-share NSE Nifty was trading at 6,100, down 46 points.In midcap space, Jindal Saw, DB Corp, HOEC, KGN Industries and Great Offshore were up 2.5-5.8% while Ballarpur Industries, Anant Raj Industries, Apollo Tyres, Amtek Auto and Gujarat NRE Coke fell 3.5-6%.In smallcap space, Transformers & Rectifiers, Jamna Auto, Welspun India, Navin Fluorine and Indo Tech Transformers rallied 6.7-12.5% while Rollatainers, Spectacle Info, Sujana Towers, Urja Global and SVC Resources lost 5-6%.About 1120 shares advanced as against 1521 shares declined on Bombay Stock Exchange._PAGEBREAK_Sensex southbound; ICICI Bank, ONGC, SBI, HDFC dragAt 10:35 hours IST - equity benchmarks were trading with moderate losses amid volatility, due to sell-off in financial, metal, telecom, FMCG and realty companies' shares along with ONGC, BHEL, Infosys and Cipla.However, losses were capped due to buying in heavyweights Reliance Industries and TCS followed by Wipro, GAIL, JSPL, Sun Pharma, Tata Motors, Dr Reddy's Labs, Hindalco and Tata Power.According to Samir Arora of Helios Capital Management, there will be lower foreign institutional investors (FII) inflow in 2011. He said that FII inflow in India is likely to be USD 18-20 billion in 2011. Arora is not expecting India to outperform this year. The 30-share BSE Sensex was trading at 20,422, down 76 points and the 50-share NSE Nifty fell 30 points to 6,116. Among frontliners, Tata Power, Jaiprakash Associates, Hindalco, Jindal Steel, M&M, HCL Tech, Dr Reddy's Labs and GAIL moved up 0.6-1.9%.However, ICICI Bank, ONGC, Sterlite Industries, Bajaj Auto, HDFC, SBI, Axis Bank and PNB declined 1-2.2%.Religare Enterprises, SBI, Jindal PolyFilm, Mahindra Satyam, Tata Steel, Reliance Industries, ICICI Bank and Coal India were most active shares on exchanges.In midcap space, Jindal Saw, KGN Industries, Eicher Motors, Religare Enterprises and Great Offshore gained 3-6.5% while Anant Raj Industries, Gujarat NRE Coke, IBN18 Broadcast, Apollo Tyres and Allahabad Bank fell 2.7-4%.In smallcap space, Transformers & Rectifiers and Welspun India gained 10% each. Navin Fluorine, Jamna Auto and Seamec were up 5.7-8.4%. However, Rollatainers, Spectacle Info, Urja Global, SVC Resources and Newtime Infra lost 4.8-6%._PAGEBREAK_Nifty slips amid volatility; financials, metals, realty dipThe benchmark Nifty opened Wednesday's trade on a negative note following weak Asian cues and profit booking. Financial, auto and metal (fall in CRB index on Tuesday) companies' shares were down today while heavyweights like Reliance Industries and L&T were supporting. There was a bit of volatility as well.Among frontliners, HUL, ICICI Bank, SBI, HDFC, HDFC Bank, Sterlite Industries, Bharti Airtel, NTPC, SAIL, Wipro, Infosys, Maruti, M&M, Hero Honda and Bajaj Auto were witnessing selling pressure.However, L&T, TCS, HCL Tech, Reliance Industries, Jaiprakash Associates and BPCL were on buyers' radar.Ranbaxy Labs lost nearly 2% as company and Merck called off deal for anti-infectives, reports CNBC-TV18 quoting PharmAsia News.Dr Reddy's Labs gained marginally as Merck shifted project to arm of Dr Reddy's and Aurigene, reports CNBC-TV18 quoting sources.L&T gained 0.5%.Ashok Leyland was up 1.5% as its December total sales stood at 7,568 units versus 6,110 (YoY).At 9:17 hours IST, the 30-share BSE Sensex fell 60 points to 20,438 and the 50-share NSE Nifty slipped 24 points to 6,121. The CNX Midcap declined just 3 points at 8,897. About 434 shares advanced as against 455 shares declined on National Stock Exchange.Midcap & Smallcap space:Shasun Chemical and Natco Pharma were up 2%. Prism Cement was up 3.2% and India Cements up 0.8%. JBF Industries rose 3% and Bata India gained 1.8%.Chambal Fertiliser, Nagarjuna Fertilisers, Madras Fertiliser and RCF went up 2-4%. The GoM is going to meet to decontrol urea prices today.Welspun India shot up 9%. Dabur was up 2% and Everest Kanto up 1.5%. KRBL and Geometric gained 2% each. Dhampur Sugar was up 0.85%.Asian markets trading lower on profit booking. Shanghai, Hang Seng, Nikkei and Kospi fell 0.1-0.4%. Taiwan lost 1.6%.The US markets ended flat as no major cues from FOMC minutes. Commodities witnessed profit booking on Tuesday.The Dow Jones Industrial Average ended up 21 points at 11691; the Nasdaq Composite was down 10 points at 2681 and S&P 500 down 2 points at 1270.CommoditiesCRB Commodity Index fell 1.6%Precious metals shed 3.6% and soft commodities were down 2.7% March silver shed 5.1% at USD 29.51/ounceFebruary gold contract was down 3.2% at USD 1378.8/ounceFebruary crude oil contract was down 2.4% at USD 89.38/barrel, hit its worst levels in nearly 2 weeks during the dayFebruary natural gas was up 0.1% at USD 4.66 per MMBtu Baltic Dry Index was down 4.5%.Sugar was down 3.2%. F&O cues: Total Nifty futures up Rs 752 crore, Options up Rs 3376 croreStock futures net add 1.67 crore shares in Open IntNifty Fut Open Int net add 4.1 lakh shares in Open IntNifty futures prem at 14 pts versu 26 pts Nifty Open Int PCR down at 1.37 versus 1.41Nifty Put add 10 lakh shares in Open Int, Call adds 19.6 lakh shares in Open IntNifty 6300 Call adds 6 lakh shares in Open Int Nifty 5700 Put adds 6 lakh shares in Open Int Nifty 6200 Call adds 5 lakh shares in Open IntNifty 6400 Call adds 1.8 lakh shares in Open IntNifty 6100 Put sheds 3.2 lakh shares in Open Int Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
