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Sensex Takes a Breather, Ends Marginally Lower

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Sensex Takes a Breather, Ends Marginally Lower

The markets ended today's rangebound session marginally lower. The Sensex slipped 37 points to close at 28,172 and the Nifty fell 11 points to settle at 8,511.

For the most part of the day, the Sensex and Nifty traded on a flat note in a very tight range. The Sensex traded in a range of 250 points and the Nifty touched high of 8,561 and low of 8,484.

However, selling pressure came in the last hour of trade. Select IT, auto, power, oil & gas and banking stocks edged lower.

Meanwhile, the broader markets outperformed the benchmark indices. The BSE mid-cap and small-cap indices advanced 0.5 and 0.6 per cent each respectively.

From the Nifty-50 basket of stocks, 30 stocks slipped while 20 stocks ended higher.

HCL Technologies was the top Nifty loser, the counter fell 3.5 per cent to shut shop at 936.30. Vedanta, NTPC, Hero MotoCorp and Hindalco were also among the top five gainers.

Blue-chip stocks such as Reliance Industries, ONGC, TCS, ICICI Bank, Maruti Suzuki, ITC, Hindustan Uniliver, Infosys, Tata Steel and Larsen & Toubro also ended lower. 

3:30 p.m.: The Sensex provisionally closed 19 points lower at 28,189 and the Nifty slipped 6 points to settle at 8,516.

3:14 p.m.: IT stocks among the top draggers. The BSE IT index was down 0.44 per cent; HCL Technologies, TCS, infosys, OFSS and Polaris were among the prominent laggards.

3:06 p.m.: Transformers and Rectifiers India Ltd shares jumped over 5 per cent to hit an intraday high of Rs 275 after the Ahmedabad-based company announced winning of an order worth Rs 124 crore. 

2:50 p.m.: The Sensex has turned highly volatile in late trades. The Sensex which fell over 100 points recovered the lost ground and was up 9 points at 28,218 and Nifty advanced 2 points to 8,524.

2:45 p.m.: Broader markets continue to outperform benchmark indices. The BSE mid-cap and small-cap indices were 0.3 and 0.4 per cent each respectively. From the mid-cap space, L&T Finance Holdings, Shriram Transport Finance, J P Associates, Reliance Infra, Cummins India and J P Pwer Ventures were among the top gainers, up 3.4-8.5 per cent each.

2:30 p.m.: The Sensex and Nifty slipped into the negative territory in the late noon deals. The Sensex was down 66 points at 28,142 and the Nifty slipped 20 points to 8,502.

Selling pressure was visible in across the sectors. Energy, infrastructure, IT, banking and pharma stocks were among the worst hit.

From the Nifty-50 basket of stocks, 32 stocks were declining while 18 were gaining.

HCL Tech was the top Nifty loser, the stock fell 3 per cent to Rs 941. Vedanta, NTPC, Zee Entertainment, Hero MotoCorp, Bosch, Hindalco, Reliance Industries, TCS, ONGC, L&T and Yes Bank were also among the laggards.

2:25 p.m.: European stock and bond markets steadied on Tuesday before a euro zone leaders' summit to discuss the Greek debt crisis while a further fall in Chinese shares reminded investors of other dark clouds on the horizon. (Read)

2:20 p.m.: TCS kicks off the earnings season this Thursday when it reports the Q1 results. On IT stocks, market analyst Ajay Srivastava says he is cautious at this moment, waiting for the earnings season to pan out. He remains positive on banking stocks in the PSU space.

2:15 p.m.: Ajay Srivastava, MD of Dimensions Consulting, attributed the weakness to profit-taking ahead of the earnings season.  Indian markets have been rallying for quite some time and some fatigue has set in, he added.

He however expects market falls to be bought into, which will cap losses in the market.

2:05 p.m.: Sensex, Nifty slip into negative territory; some selling seen in IT, capital goods and auto stocks. Sensex down 20 points at 28,187 while Nifty slips 6 points to 8,515.

1:57 p.m.: HCL Technologies, NTPC, Vedanta, Hindalco, Zee Entertainment, Hero MotoCorp, Cairn India, Hindustan Uniliver, Reliance Industries, Lupin and Maruti Suzuki were the top losers on the Nifty, down 0.75-2.7 per cent each.

1:50 p.m.: Motilal Oswal has maintained its buy call on Jain Irrigation for Rs 100 per share. MOSL team met Jain Irrigation's management and said that management is confident of 10-15 per cent growth and will reduce debt by Rs 300 crore. MOSL adds that food processing stake sale will be concluded over two quarters.

1:35 p.m.: The markets were trading on a flat note in the noon deals. The Sensex was up 67 points at 28,275 and the Nifty advanced 20 points to 8,542.

Fitch Ratings says 20-40 per cent of stressed assets of the state-run banks will turn into bad loans and SBI is the best placed among the PSU banks.



1:24 p.m.: Motherson Sumi, Bharat Forge, UBL, Zee Aditya Birla Nuvo, UPL, GMR Infra and Indiabulls Housing Finance were among the losers from the mid-cap space.

1:15 p.m.: The overall breadth on the BSE was positive as advancing stocks outnumbered the declining stocks. 1,663 stocks were gaining while 923 stocks were declining.

1:00 p.m.: European markets edge higher ahead of EU summit on Greece. Germany's DAX was up 0.4 per cent, French CAC 40 index rose 0.2 per cent and Britain's FTSE 100 was down 0.02 per cent.

12:53 p.m.: Select auto stocks face a mild selling pressure. The BSE auto index was down 0.1 per cent; Bharat Forge, Motherson Sumi Systems, Hero MotoCorp, Maruti Suzuki, Tata Motors and Ashok Leyland were among the prominent losers from this space.

12:39 p.m.: Nifty 8,600 strike price call option is the most active options contract on the National Stock Exchange. The premium on the call option fell 9.65 per cent to Rs 87.05. 9.12 lakh shares have been added to the open interest of 4.16 million shares.

12:30 p.m.: The markets were trading on a muted note in the noon deals. The Sensex was up 25 points at 28,234 and the Nifty was up 8 points at 8,530.

12:21 p.m.: Sterlite Technologies shares surged as much as 8.5 per cent on Tuesday to hit a new 52-week high of Rs 91.20. This takes the two-day gains of the optical fibre manufacturer to over 13 per cent. Sterlite Technologies had gained over 4 per cent on Monday. (Read)

12:17 p.m.: Fitch says re-capitalisation of mid-sized PSU banks is very urgent and some banks are capital starved.

12:13 p.m.: Fitch says that 20-40 per cent of stressed assets of the state-run banks will turn into bad loans and State Bank of India is the best placed banks in terms of capital needs.

12:03 p.m.: Most Asian stocks drooped on Tuesday as Chinese equity markets went into a fresh tailspin, fraying investor nerves already strained by uncertainty hanging over the future of Greece and the European currency union.

Chinese shares fell more than 4 per cent despite unprecedented steps last weekend to stabilise the plummeting market, with the CSI 300 index falling to near four-month lows. (Click here for full report)

11:49: L&T Finance Holdings, Unitech, United Breweries, J P Associates, Suzlon Energy and Marksans Pharma were the most actively traded stocks on the National Stock Exchange.

11:42 a.m.: Essar Oil shares rose as much as 6 per cent on Tuesday to a fresh 52-week high of Rs 184.80 on the BSE, extending its gains to nearly 25 per cent in two sessions. Essar Oil shares had surged nearly 18 per cent on Monday after reports said the refiner had received NSE's approval for delisting its shares. (Click here for full report)

11:21 a.m.: The markets were trading in a tight range in the late morning deals as selling was seen in select energy, FMCG and infrastructure stocks.

The Semsex moved in a range of 135 points while the broader Nifty was trading in a range of 38 points.

The Sensex was up 42 points at 28,251 and the Nifty was up 13 points at 8,535.

11:17 a.m.: Marksans Pharma shares have surged nearly 50 per cent to hit fresh 52-week high of Rs 91.90 in the last six trading sessions. (Click here for full report)

10:53 a.m.: Sarabjit Kour Nangra of Angel Broking says that Tech Mahindra will see mute growth in telecom and energy earnings in first quarter of FY16 and the stock will not react negatively to results as it has bottomed out.

10:45 a.m.: The BSE small-cap index was outperforming the benchmark indices. The small-cap index advanced 1 per cent. Arvind Remedies, Tilaknagar Industries, Unity Infraprojects, Sharon Bio-Medicine, Kwality and KSS Limited were among the top gainers, up 12-20 per cent each.

10:40 a.m.: L&T Finance shares jumped as much as 9.5 per cent on Tuesday after The Economic Times reported that private equity fund Warburg Pincus is in talks to buy 25 per cent stake in the financial services company. (Click here for full report)

10:36 a.m.: Gaurav Bissa, derivatives analyst of LKP Securities says if Nifty stays above 8,500, markets can head towards 8,700 mark and adds that overall trend is bullish and there is strong momentum on the upside.

10:34 a.m.: Religare has maintained its buy call on Bata India for target of Rs 1,300 per share. Religare says that Bata India is treading on path of recovery and its supply issues in stores are coming down. Religare adds that demand is improving, aided by good monsoon sales.

10:30 a.m.: Lalit Agarwal, CMD of V-Mart Retail, told NDTV that it is considering foraying into e-commerce. It is eyeing a launch in a year's time, he added. V-Mart Retail shares were up 0.75 per cent at Rs 498.50  on NSE.

10:18 a.m.: Sensex up 75 points at28,283 while Nifty rises 23 points to 8,545. BSE banking index is up nearly 0.60 per cent while the metal index is up nearly 0.90 per cent. Bank of Baroda, PNB and SBI up between 1-2 per cent.

10:00 a.m.: L&T Finance Holdings, Essar Oil, United Breweries, Bajaj Finserv, Castrol India, Reliance Capital, Tata Communication and Sriram Transport Finance were among the gainers from the mid-cap space, up 2-9 per cent each.

9:55 a.m.: Market expert Ratnesh Kumar says that global uncertainty can impact Indian markets and 'Grexit' will have an impact on equities.

9:45 a.m.: Oil marketing companies, paint and tyre manufacturers and aviation stocks outperformed the broader markets on Tuesday tracking the sharp selloff in global crude oil prices.

Crude oil prices traded near 2-month lows on Tuesday morning after posting one of their biggest selloffs this year the previous day over Greece's rejection of debt bailout terms and China's stock market woes. Front-month Brent crude traded at $57.07 a barrel on Tuesday, following a more than 6 per cent fall the previous session. (Click here for full report)

9:35 a.m.: The markets have turned flat after edging higher on the back of selling in heavyweight stocks such as Reliance Industries, ITC, Hindustan Uniliver, L&T and ONGC.

The Sensex was up 16 points at 28,225 and the Nifty was up 6 points at 8,528.

9:30 a.m.: Selling pressure was visible in select pharma and energy stocks. Cairn India, Reliance Industries, ONGC and NTPC were losers from the energy space and from the pharma pack, Lupin, Cipla and Dr Reddy's Labs were among the laggards.

9:25 a.m.: HCL Technologies, Lupin, Hindalco, Cairn India, Idea Cellular, Vedanta, HUL, Dr Reddy's Labs and Ambuja Cements were among the laggards on the Nifty.

9:20 a.m.: The Sensex edged higher in the opening deals on the back of buying interest seen in most of the sectors. The BSE benchmark jumped 60 points to 28,269 and the Nifty advanced 17 points to 8,539.

Most of the sectors were witnessing buying interest. Banking, metal, consumer durables, auto, FMCG, pharma and capital goods indices were up 0.2-0.7 per cent each.

The broader markets were also witnessing buying interest. The BSE mid-cap and small-cap indices were up 0.6 and 0.7 per cent each respectively.

From the Nifty-50 basket of stocks, 34 stocks were advancing while 16 were declining.

Asian Paints, Bank of Baroda, Tata Steel, Wipro, HDFC, IndusInd Bank, BPCL, Tech Mahindra and Kotak Mahindra Bank were among the gainers on the Nifty.

9:08 a.m.: Sensex jumps 11 points to 28,220 and Nifty gains 3 points to 8,525 in the pre-market session.

9:00 a.m.: Rupee opens higher at 63.30 per dollar against Monday's close of 63.39.

8:55 a.m.: Morgan Stanley has maintained its 'overweight' outlook on Dish TV for target price of Rs 117 per share. Morgan Stanley says that Dish TV forming a joint venture with Siti Cable is positive. Going ahead company's profitability will improve on the back of better average revenues per user and high visibility on content costs. (Click here for more brokerage calls)

8:40 a.m.: Below are the stock which will be in focus today:

Tata Motors: Tata Motors will be in focus today as Jaguar Land Rover sales jumped 24.5 per cent to 7,244 units in month of June year on year.

SpiceJet: SpiceJet is offering tickets at discounted prices. The company has launched discount scheme 'Red Hot Fares Sale'. Tickets are priced at as low as Rs 1,899 all-inclusive.

L&T Finance Holdings: L&T Finance Holdings will be in focus today as reports suggest that Warburg Pincus is in talks to purchase 25 per cent stake in L&T Finance Holdings. Negotiations are on for the deal price right now. The move seen as Warburg's plan to create a financial services portfolio in India and L&T has offered a price of Rs 83/share.

CMC: CMC will declare its results later in the day. Analysts expect company to post sales of Rs 639 crore and net profit of Rs 72.7 crore.

Power Grid: Power Grid board has approved company's plans to invest Rs 2,247 crore in green energy corridors.

8:25 a.m.: Yesterday Indian markets were among the few markets to end on a positive note. Nifty saw 146 point recovery from the intraday lows and open interest did not see major swings. Meanwhile, Greek PM Tsipras will offer new terms tomorrow and European leaders suggest nothing has changed on their side. Back home, fall in crude oil prices is a big positive for the Indian economy and markets.

8:20 a.m.: The foreign institutional investors (FIIs) purchased Indian shares in cash segment worth Rs 149 crore while the domestic institutional investors (DIIs) sold shares worth Rs 409 crore.

In the derivative segment, the FIIs sold index futures worth Rs 850 crore and also sold stock futures worth Rs 266 crore.

8:10 a.m.: The Indian benchmark indices are likely to witness a flat opening in trades today tracking subdued trading of Nifty and other Asian markets amid ongoing concerns in Greece and highly volatile stock markets in China.

The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty was also indicating a flat start. The SGX Nifty down 0.03 per cent or 2 points at 8,534.

8:05 a.m.: Asian stocks won a reprieve on Tuesday after sharp falls the previous day but investors remained on edge amid uncertainty over Greece's position in the euro and volatility in mainland Chinese equity markets.

Chinese shares dropped almost two percent in early trading, reversing much of gains made on Monday following unprecedented steps to stabilise a plummeting market. 

European and U.S. stocks fell on Monday after Greeks voted overwhelmingly to reject more austerity. However, despite the huge uncertainty stemming from the Greek saga, most markets were relatively becalmed following the initial selloffs. (Click here for full report)

8:00 a.m.: France and Germany told Greece on Monday to come up with serious proposals in order to restart financial aid talks, a day after Greeks voted overwhelmingly to reject more austerity.

German Chancellor Angela Merkel and French President Francois Hollande, the euro zone's most powerful leaders, said Athens must move quickly if it wants to secure a cash-for-reform deal with creditors and avoid crashing out of the single currency. (Click here for full report)

(With agency inputs)



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