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Jul 13, 2012, 03.12 PM IST
The BSE Sensex shed all its gains as it was trading marginally lower compared to 100 points gains in morning trade. However, European markets extended upmove a bit after Italy successfully sold bonds worth euro 3.5 billion. France's CAC rose 0.5% while Germany's DAX and Britain's FTSE went up 0.7% each.
Infosys, country's second largest software services exporter extended losses, falling 1.5% while its rival TCS gained 1.8% after strong numbers in Q1.
Top lender State Bank of India too slipped further, declining 1% and ICICI Bank was down just 0.17% whereas HDFC Bank was off day's high after results, gaining 0.9% compared to intraday spike of 2%.
Metals stocks like Jindal Steel, Hindalco Industries and Sterlite Industries dropped 1.5-2%.
Private power producer Tata Power slipped 1.4%. Top car maker Maruti Suzuki went down 1% and commercial vehicle manufacturer Tata Motors was down 0.4%.
State-owned oil & gas producer ONGC and top telecom operator Bharti Airtel gained 0.8% each.
Two-wheeler major Hero Motocorp rose 1.4%.
In the second line shares, Sintex Industries shot up 2.5% after better than expected profit margin in Q1.
Jain Irrigation, Oracle, United Phosphorous, Piramal Healthcare, Oil India and Mphasis were up 1-1.8%.
The 50-share NSE Nifty remained in a tight range of 5240-5260 since early trade as it was consolidating after a sharp fall in yesterday's trade. European markets opened higher; France's CAC, Germany's DAX and Britain's FTSE went up over 0.4%.
The NSE Nifty and BSE Sensex were trading higher amid volatility, but the broader markets continued to outperform benchmarks. The BSE Midcap Index rose 0.6% and Smallcap went up 0.75%.
May 25 2013, 16:36
- in Technicals
May 25 2013, 16:36
- in MARKET OUTLOOK