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Jun 21, 2012, 12.27 PM IST
Key benchmarks remained volatile as market was getting support from capital goods, private banks, FMCG and power stocks whereas the selling continued in technology, auto stocks, Reliance and SBI.
The Indian rupee was consistently trading below the 56 level since early trade to 56.39 as against the US dollar, down 24 paise.
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Index heavyweight Reliance Industries tanked over 3% as its partner in KG D6 - Niko Resources said total proved plus probable natural gas reserves have fallen almost 51% to 377 billion cubic feet equivalent (bcfe) as it struggles with low reserves at its KG D6 block in India.
Cairn India fell over 2% as crude oil prices have been falling sharply since yesterday after EIA inventory report. However, oil marketing companies like BPCL, HPCL and IOC gained 1-4% on falling oil prices. State-owned oil & gas producer ONGC rallied over 1%.
Country's largest lender State Bank of India dropped 0.6% while its rivals HDFC Bank and ICICI Bank rose 0.3% each.
Top software services exporter TCS tumbled over 2%, but Infosy and Wipro were down just 0.5% each.
Among auto stocks, Mahindra & Mahindra, Tata Motors, Maruti Suzuki and Bajaj Auto declined 0.4-1%.
However, engineering and construction major by sales L&T and state-owned power equipment manufacturer BHEL jumped 1% and 2.65%, respectively.
FMCG majors ITC and HUL gained over 0.5%.
Asian equities stayed in bear grip barring Nikkei. Shanghai fell 1.6% after weak PMI data. Hang Seng, Straits Times, Kospi and Taiwan Weighted went down 0.7-1% whereas Nikkei gained over 1%.
The BSE Sensex and NSE Nifty retreated in early trade on Thursday following downward journey in Asian markets as there was no announcement of QE3 by Federal Reserve yesterday. The Indian rupee depreciated by 25 paise to 56.40 as against the US dollar.
May 22 2013, 10:28
- in Technicals
May 22 2013, 10:44
- in Economy