Sensex lacklustre; SBI, TCS, ICICI Bank slip

The benchmark Sensex was directionless today and was hovering just around its previous closing value at 12:06 hours, ahead of expiry tomorrow and budget on Monday.

“We are unlikely to see any major upward or downward trend pre-budget. So, I think the market is really looking at the budget for a signal of where things have to go because a lot of questions remain unanswered,” said Radhika Gupta of Forefront Capital Management while reacting on the subject of budgetary impact on market sentiments.

Heavyweights like SBI, Infosys, TCS, Wipro, ICICI Bank, BHEL and ITC were witnessing selling pressure with loss of 0.6-2%. Among others - DLF, ONGC, NTPC, Ranbaxy Labs, Tata Power, HUL, JSPL, BPCL and Cairn too were down.

However, buying continued in Anil Dhirubhai Ambani Group (ADAG) and auto companies' shares. Heavyweights Reliance Industries, HDFC and Bharti rallied 1-2.5%. Sterlite Industries, Hindalco, HDFC Bank, L&T, Axis Bank, PNB and Cipla were also on buyers' radar.

The 30-share BSE Sensex fell just 26 points to 18,270 and the 50-share NSE Nifty declined 6 points at 5,463. The broader indices too were quiet in trade.

Reliance Infrastructure (shot up 8%), SBI, Reliance Industrial Infra, Reliance Capital, Reliance Industries, HDFC and Tata Motors were the most active shares on exchanges.

In midcap space, Man Infra shot up 16% as company signed pact with Turkish Co STFA for port, marine construction in India.

State Bank of Bikaner (SBBJ), State Bank of Mysore and State Bank of Travancore jumped 8-13%, could be because of SEBI approved Rs 800 crore rights issue of SBBJ.

Bajaj Finserv went up 8%.

However, Radico Khaitan crashed 10% as the company made alleged disclosure of Rs 100 crore during I-T raids, according to sources. NV Distilleries also raided by I-T department authorities, say sources.

Money Matters, Andhra Bank, Punj Lloyd and Gitanjali Gems fell 3-5%.

In smallcap space, Geodesic, Prraneta Ind, Zenith Infotech, Bhansali Engg and Seshasayee Paper rallied 6-8%. However, A K Capital, Hinduja Foundries, Ashoka Buildcon, Parrys Sugar and India Securities lost 5-6%.