Nifty below 6150; banks, realty, auto, FMCG, cement dip
At 14:53 hours IST - equity benchmarks were consistently trading lower - the Sensex lost around 150 points amid volatility. Downtrend in financial, auto and realty companies' shares were on sellers' radar on the back of news that RBI may increase interest rates in a policy meet scheduled by end of January.
January 06, 2011 / 15:30 IST
At 14:53 hours IST - equity benchmarks were consistently trading lower - the Sensex lost around 150 points amid volatility. Downtrend in financial, auto and realty companies' shares were on sellers' radar on the back of news that RBI may increase interest rates in a policy meet scheduled by end of January.
Cement and FMCG companies' shares along with ONGC, L&T, Sterlite Industries, Cipla, Jaiprakash Associates, Wipro, SAIL and Suzlon Energy were also witnessing selling pressure.However, Reliance Industries, NTPC, Bharti Airtel, Hindalco, Sun Pharma, HDFC Bank, TCS, Infosys, Power Grid, Tata Steel, Sesa Goa, HCL Tech, Reliance Capital and Reliance Infrastructure were quite supportive to the markets.The 30-share BSE Sensex was trading at 20,180, with loss of 120 points and the 50-share NSE Nifty fell 32 points to 6,047. Breadth was also in favour of declines; about 301 shares advanced as against 992 shares declined on Bombay Stock Exchange.Among frontliners, Hindalco was trading at Rs 251.25, up 1.91%; NTPC was at Rs 201.85, up 1.38%; Reliance Industries was at Rs 1,086.45, up 1.17%; Bharti Airtel was at Rs 353.30, up 0.97%; HDFC Bank was at Rs 2,327, up 0.89%; Sun Pharma was at Rs 499, up 2.24% and Reliance Power was at Rs 161.55, up 1.25%.However, Sterlite Industries was trading at Rs 183.55, down 3.8%; Bajaj Auto was at Rs 1,332.05, down 3.32%; ONGC was at Rs 1,228, down 3%; Cipla was at Rs 364.35, down 2.83%; L&T was at Rs 1,879.70, down 2.63%; Ambuja Cements was at Rs 134.10, down 4.79% and ACC was at Rs 1,027.95, down 3.42%.In midcap space, Emami rose 11%. KGN Industries, Gujarat Flourochem, Jain Irrigation and Karnataka Bank were up 3.4-5% while Chambal Fertiliser, National Fertiliser, Escorts, BGR Energy and TVS Motor fell 5-8.6%.In smallcap space, Binani Industries, Visa Steel, Symphony, Mandhana Industries and Newtime Infra rallied 5-11% while Nagarjuna Fertiliser, Indo Tech Transformers, Omnitech Info, SE Investments and Kanani Industries lost 5-6.9%._PAGEBREAK_Sensex extends losses; ONGC, SBI, Sterlite, HUL, L&T dragAt 13:34 hours IST - the benchmark Sensex shed more than 100 points in afternoon trade, dragged by FMCG, capital goods, auto, realty, cement, select financial and metal companies' shares. Heavyweight ONGC plunged 2.8%. Even broader markets were under pressure; the BSE Midcap and Smallcap indices slipped 0.7-1%.However, indices were getting some support from shares like Bharti, Reliance Industries, HDFC Bank, TCS, Infosys, Sun Pharma, Tata Steel along with power companies' shares.The 30-share BSE Sensex was trading at 20,173, down 127 points and the 50-share NSE Nifty fell 37 points to 6,042. However, the Nifty January Futures were trading at 26 points premium.Arjuna Mahendran, Managing Director and Head of Investment Strategy Asia, HSBC Private Bank said,
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