Sensex dips nearly 300 pts on weak European cues

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 30/05/12 Are Mutual Funds betting on Nifty?

Nifty down 1%; Hindalco, Tata Motors, HDFC,Tata Steel slide

At 12.33 hrs IST, the Nifty was down close to 1%. Selling pressure further aggravated in realty, metal, IT, auto, power and bank stocks. Buying was seen in FMCG stocks. The BSE Midcap index turned into red indicating further weakness in the market.

The Sensex was up 197.25 points or 1.22% at 16360.69, and the Nifty was down 44.65 points or 0.91% at 4887.20. About 1404 shares advanced, 1478 shares declined, and 259 shares were unchanged.

In the largecap space, ITC was the top gainer on the Sensex. Sun Pharma ICICI Bank and ONGC were marginally trading in green. On the losing side, Hindalco, HDFC, Tata Motors, Jaiprakash Associates and Tata Steel were down 2-3%.

Top gainers on the BSE Midcap: Gujarat Gas, Indraprastha Gas, KGN Industries, Maharashtra Seamless and Mcleod Russel were up 3-6%.

Top losers on the BSE Midcap: Prakash Industries, Polaris, Simplex Infra, Oriental Bank and Coromandel International were down 2.5-3.5%.

Top gainers on the BSE Smallcap: Resurgere Mines, Shristi Infra, Advanta, Lloyds Metals and PVP Ventures were up 10-14%.

Top losers on the BSE Smallcap: Falcon Tyres, Sanwaria Agro, Mah Polybutenes, INOX Leisure and Gemini Communications were down 4-7%.

Sensex southbound; realty, tech, metals, banks dip

At 11.11 hrs IST, the Nifty was trading close to the 4900 mark with negative bias. Heavy selling was seen in realty, IT, metal, banks and auto stocks. Buying was seen in consumer durables and FMCG stocks. The BSE Midcap and Smallcap index were marginally trading in the green. 

The Sensex was up 229.08 points or 1.42% at 16392.52, and the Nifty was down 37.45 points or 0.76% at 4894.40. About 1471 shares advanced, 1363 shares declined, and 306 shares were unchanged.

In the largecap space, GAIL was the top gainer with more than 4% gain. Ranbaxy Labs, BPCL, Maruti Suzuki and ICICI Bank were up 0.3-1.3%. On the losing side, HDFC, Hindalco, Tata Steel, Wipro and Unitech were down 1.8-2.5%.

Index heavyweight Reliance was trading at Rs 1,031.70 down 0.2% from its previous close of Rs 1,033.75. Tech major Infosys was trading at Rs 2,440.00 down 1.22% from its previous close of Rs 2,470.20. Cigarette major ITC was trading at Rs 252.60 up 0.02% from its previous close of Rs 252.55.

Top gainers on the BSE Midcap: Gujarat Gas, Asian Star, KGN Industries, Indraprastha Gas and Mcleod Russel were up 4-7%.

Top losers on the BSE Midcap: Prakash Industries, Simplex Infra, Polaris, DeccanChronicle and Aventis Pharma were down 2-4%.

Top gainers on the BSE Smallcap: Sundaram-Clayton, Lloyds Metals, CCL Products, PVP Ventures and Vindhya Telelin were up 6-13%.

Top losers on the BSE Smallcap: Sanwaria Agro, Falcon Tyres, Mah Polybutenes, Richa Ind and INOX Leisure were down 4-7%.

Nifty below 4900; TCS, HDFC, Wipro, HDFC Bank, L&T dip

At 10:09 hours IST, the benchmark Nifty was trading below the 4900 mark on the back of profit booking across all the sectors. Metal, realty, technology and capital goods were the major losing sectors. However, buying in select stocks like HUL, Ranbaxy Labs, GAIL, BPCL and ICICI Bank capped the losses to some extent.

Asian markets slipped further again, which also weighed on the markets. Hang Seng was down 1.5% and Nikkei down 0.86%. Shanghai and Straits Times were down 0.5-0.7%. Kospi, Taiwan and Jakarta slipped marginally.

The 30-share BSE Sensex was trading at 16376, down 119 points and the Nifty was at 4895, down 36 points. The Nifty February future was trading with 9 points discount. The market breadth was also in favour of declines; about 560 shares advanced while 631 shares declined on the NSE.

TCS, HDFC, Wipro, Reliance Industries, HDFC Bank, Sterlite Industries, L&T, Infosys, ONGC, Bharti Airtel and NTPC were the leading sectors on the decline.

In the midcap space, Gujarat Gas, Asian Star, KGN Industries, MindTree and Indraprastha Gas were up 4-8% while Prakash Industries, Shree Cements, M&M Financial, Polaris and Monnet Ispat fell 2-3%.

In the smallcap space, Shree Ashtavinayak, Sahara One, Vindhya Telelink, Balkrishna Ind and Vipul went up 6-6.5% while Falcon Tyres, Sanwaria Agro, Maharashtra Polybutenes, Richa Ind and JMD Telefilms lost 3.5-6%.

Sensex retreats on profit booking; metals, cap goods slip

The Sensex started the day on a negative note on the back of profit booking, after seeing rally of over 300 points on Wednesday. Weak Asian cues also weighed on the markets. Metal, banking, capital goods and realty stocks were seeing selling pressure.

At 9:02 hours IST, the Sensex was trading at 16442, down 53 points and the Nifty was at 4913, down 18 points. The BSE Smallcap Index fell 16 points to 8496. The market breadth was mixed; about 330 shares advanced while 359 shares declined on the NSE.

Government oil & gas companies' shares were seeing buying interest post Kirit Parikh report, which submitted on Wednesday. It has recommended freeing of petrol, diesel prices. The report also recommended hike of Rs 6/litre for kerosene and Rs 100/LPG cylinder.

IOC and ONGC gained 1.3%. GAIL rose 3%. BPCL and HPCL went up 2% each. Oil India was up just 0.35%. Fuel price hike is not likely for now, reports CNBC-TV18 quoting sources.

Among frontliners, ICICI Bank was up. ACC and Ambuja Cements gained ahead of results today.

However, Sterlite, Tata Steel, Hindalco, L&T, PNB, HDF Bank, DLF, Unitech and Jaiprakash Associates were under pressure.

Midcap & Smallcap Space:

Fame India was up 5% while Inox lost 1.5%. Sources told CNBC-TV18 that Inox and Fame deal advanced by two days, as there may be counter offer by third party.

Shree Ashtavinayak was up 2.5%; it has been on the upmove for fourth straight day.

Manglore Chemical, Chambal Fertiliser and RCF gained 1-3%.

Infiinite Computer was up over 1%, which rallied 16% on listing day yesterday.

Gujarat Gas was 11%.

Global cues:

Asian markets were trading off day's high. Shanghai and Kospi fell 0.2% each. Nikkei and Straits Times declined 0.6% each. Hang Seng lost 1%. However, Taiwan and Jakarta were marginally in the green.

The US markets ended marginally down after 2 days of tipple digit gain on mixed economic data. Dollar advanced 0.5%.

The Dow Jones Industrial Average was down 26.3 points at 10270. The S&P 500 ended flat at 1097 and Nasdaq ended flat at 2191.

ISM services index rose to 50.5 in January from 49.8 in December, lower than economist's expectations.

Commodity:

CRB Commodity Index was down 1%.

Crude oil was down 0.3% at $76.98/bbl on Wednesday. It had gained nearly 6% in last 2 days.

Crude inventories jumped by 2.3 million barrels last week, much more than expected.

Gold prices slipped 0.3% at $1111.3/ounce.

Silver was down fell 2.2% at $16.37/ounce.

Copper, lead and zinc lost more than 3% in London.

Market cues - February 2, SEBI

- FIIs net sell USD 67.5 million

- MFs net sell Rs 247 crore

- Total F&O Open Interest up by Rs 2,744 crore at Rs 1,04,432 crore

Institutional action - February 3, Source: NSE (prov)

- FIIs net buy Rs 396 crore in cash markets

- DIIs net buy Rs 0.5 crore in cash markets

- FIIs net buy Rs 2,954 crore in F&O

F&O cues:

- Total Futures OI (open interest) up by Rs 406 crore
- Total Options OI up by Rs 2,338 crore
- Stock Futures add 2.1 crore shares in OI
- Nifty Calls add 8.2 lakh shares in OI
- Nifty Puts adds 31 lakh shares in OI
- Nifty PCR at 1.15 versus 1.10
- Nifty Futures shed 21.3 lakh shares
- Nifty Futures 5-point discount
- Nifty 4800 Put adds 9.4 lakh shares in OI
- Nifty 4900 Put adds 7.9 lakh shares in OI
- Nifty 4800 Call sheds 5 lakh shares in OI