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Aug 01, 2012, 02.50 PM IST
Indian shares remained in a consolidation mode in afternoon trade while broader markets continued to outperform benchmarks. On the National Stock Exchange, advancers outnumbered decliners by 921 to 471.
The 30-share BSE benchmark moved up 29.45 points to 17,265.63 and the 50-share NSE benchmark rose 10.40 points to 5,239.40.
Among banking and financials stocks, housing finance company HDFC and country's largest lender State Bank of India gained nearly 1.5% whereas private sector lenders HDFC Bank and ICICI Bank were marginally lower.
Index heavyweight Reliance Industries went up 0.9% while state-owned oil & gas producer ONGC was down nearly 1%.
Drug producer Cipla rallied nearly 4% after better than expected numbers in first quarter of FY13.
Engineering and construction major Larsen & Toubro rose 0.6% and state-owned power equipment manufacturer BHEL surged 2%.
Top commercial vehicle maker Tata Motors climbed 0.9% as the company's total sales jumped 15% year-on-year to 74,159 units in July.
Technology majors TCS, Infosys and Wipro declined 0.5-1%. Top telecom operator Bharti Airtel was down 0.65%.
Coal India, country's largest coal mining company tanked over 3% after the company has agreed to supply at least 80% of the coal needed to fuel new power projects.
Most active shares on exchanges were SBI, Orissa Minerals, United Spirits, Cipla, Amar Remedies, ICICI Bank, Tata Motors and Reliance Industries.
The BSE Sensex and NSE Nifty were completely lacklustre in trade as they were moving just around their previous closing values. The market needs a fresh trigger to take three-day rally further - the trigger may be in the form of reforms by the Indian government and globally it may be outcome of European Central Bank and Federal Reserve's meet.
Indian shares fell marginally amid volatility due to profit booking in private banks, technology and FMCG stocks. However, the buying interest in Cipla, SBI, HDFC and Tata Motors has capped the downside.
May 24 2013, 16:42
- in Rupee
May 23 2013, 09:33
- in Technicals