Mumbai: The Sensex fell more than 74 points and the Nifty tested the 4700 mark, weighed down by oil & gas, banks, realty, power and metal stocks. The Sensex closed 74.66 points or 0.47 per cent down to 15738.70 and the Nifty dropped 19.85 or 0.42 per cent points to 4714.00.
Index heavyweights Reliance Industries, Infosys, ICICI Bank, ONGC, Bharti Airtel and SBI were down 0.9-2 per cent. Shares of NTPC topped the selling list among largecaps, falling 3 per cent.
HDFC Bank, L&T, Tata Power, Hindalco, Cipla, Bajaj Auto and Tata Motors fell 0.5-1 per cent. In the realty space, DLF lost over 2 per cent.
However, BHEL, Wipro and Maruti were down over 1 per cent.
On the global front, European markets like France's CAC, Germany's DAX and Britain's FTSE moved up 0.2-0.8 per cent.
At 14:05 hours IST: Nifty slips amid choppy trade; NTPC, Bharti, Infosys fall
The Sensex gained some strength in the afternoon trade amid volatility. It was supported by capital goods, metals, realty, auto (four-wheeler) and banks stocks. The Nifty was up 58 points at 15,871.46 and the Nifty rose 17 points to 4,751.15.
The Indian market continued its upmove for the third consecutive session on Friday. However, Sangeeta Purushottam, managing director of Nine Rivers Capital believes there is still enough uncertainty around to keep the market turbulent for a while.
Shares of L&T and BHEL maintained their top position in the buying list, gaining 3 per cent and 3.5 per cent, respectively. It seems that these stocks were witnessing some value buying as well as some short covering, as it was one of the most beaten down sectors in the year 2011. Overall, the capital goods index crashed 50 per cent over earlier year.
Among others, Reliance Industries, Tata Motors, M&M, HUL, SBI, Tata Steel, Wipro, Coal India and DLF gained 0.7-1.5 per cent.
In the metal space, Sterlite surged 2.5 per cent while Hindalco and Maruti gained nearly 2 per cent. ICICI Bank, HDFC Bank and TCS too turned positive.
However, ONGC, Bharti Airtel and NTPC lost 1-1.65 per cent. Infosys, HDFC, Bajaj Auto, Cipla and JSPL were marginally higher.
The BSE Midcap and Smllcap indices were up 0.9 per cent and 1.5 per cent, respectively.
At 11:41 hours IST : Nifty hovers around 4740; broader markets outperform
The Sensex was trying to stay with bulls amid choppy trade, supported by index heavyweights Reliance, BHEL and L&T. But the fall in Bharti, ONGC, Infosys and ICICI Bank offset major gains. The Sensex was up 32 points at 15,845.60 and the Nifty rose 9 points to 4,742.85, which was hovering around 4,740 level.
The market has been in positive terrain since previous two sessions and may be seeing year-end rally following its global peers. But experts feel the Nifty may test 4500 on outflow of money. Arvind Sanger of Geosphere Capital also feels that FIIs may exit India on any capitulation in market. He warns that the Nifty may even tank to 4500.
Index heavyweights and capital goods majors L&T and BHEL topped the buying list, rallying 3 per cent each. Short covering led the rally in these stocks.
Sterlite Industries, Hindalco, Maruti Suzuki and SAIL were other gainers, rising 2 per cent each. Reliance Industries retained its early trade gains, shooting up 1.6 per cent.
However, Ranbaxy Labs, BPCL, PNB, Bharti Airtel, Bajaj Auto, ONGC and Jindal Steel were biggest losers among largecaps, falling 1-2 per cent. Cipla too was down 0.74 per cent.
In the second line shares, Anant Raj Industries, KEC International, Apollo Hospital, Gujarat Flourochem and Hotel Leela rallied 6-12 per cent while Kwality Dairy, Vaarad Ventures, ABG Shipyard, AIA Engineering and Jubilant Foodworks lost 2.5-5 per cent.
In the smallcap space, Gokaldas Export, Camlin, Ahluwalia, Kolte-Patil and ICSA shot up 9-13 per cent whereas GSS Infotech, Alchemist, Neha International, Gallantt Ispat and PFL Infotech were down 5-10 per cent.
The broader markets outperformed benchmarks - the BSE Midcap and Smallcap indices were up 0.8-1.3 per cent.
The market breadth too remained in favour of advances; about two shares gained for every share falling on the BSE.
At 10:16 hours IST : Sensex consolidates; IT, private banks decline
The market was consolidating at around its previous closing values after a rally of more than 638 points on the Sensex in previous two sessions. Capital goods, FMCG and auto (four-wheeler) sectors were helping the market to stay in positive terrain; Reliance too led the support. However, the sell-off in banks, technology and auto (two-wheeler) limited the upside. The Sensex was up 17 points at 15,830.45 and the Nifty moved up 2 points to 4,735.75.
Anil Manghnani of Modern Shares & Stock Brokers feels the Nifty may move into the next resistance zone which is closer to 4820-4860 range.
Index heavyweight Reliance Industries jumped 1.6 per cent. Capital goods major L&T and BHEL, most beaten down in recent fall on growth concerns, gained 2-2.5 per cent.
FMCG stocks - defensive players - like ITC and HUL moved up 0.5-0.8 per cent. Auto stocks like Tata Motors, Maruti and M&M were up 0.8-1.4 per cent while Hero Motocorp and Bajaj Auto fell 0.7 per cent.
On the flip side, Infosys, ICICI Bank, Bharti Airtel, HDFC Bank, TCS and JSPL were down 0.5-1.25 per cent. HDFC and ONGC were marginally lower.
The market breadth was quite strong; about two shares advanced for every share falling on the BSE.
On the global front, Asian markets like Shanghai, Hang Seng, Kospi and Taiwan were upi 1-2 per cent post stronger than expected US jobless claims and improvement in US confidence index.
At 9:19 hours IST : Nifty hits 4750 on positive global cues; L&T, RIL lead
The Sensex opened with more than 50 points gap up on last day of the week reacting to positive global cues. Ahead of Christmas holiday, Asian markets were trading 1-2 per cent higher while US markets ended 0.5-0.8 per cent higher after stronger than expected jobless claims.
The Sensex was up 91.37 points at 15,904.73 and the Nifty rose 27.25 points to 4,761.10, amid volatility.
Shares of L&T, ACC, Axis Bank, Maruti, Tata Motors, Sterlite, Sesa Goa, BHEL, JP Associates, Wipro, Tata Power, M&M, IDFC, PNB and DLF led the markets higher in early trade.
However, Ranbaxy Labs, Bharti Airtel and ICICI Bank were under pressure.
The CNX Midcap jumped 37 points to 6,246. Market breadth too was positive; about two shares gained for every share falling on the National Stock Exchange.
ABB shot up 5 per cent as the company received Rs 4,000 crore worth of UHVDC power transmission order.
In the second line shares, Shree Renuka, VIP Industries, Delta Corp, Punj Lloyd, Lovable Lingerie, Balrampur Chini, Crompton Greaves, Ashok Leyland, Praj Industries, Dabur, Jain Irrigation and REC were up 2-3.5 per cent.
Hindustan Motors jumped 6.5 per cent. The company entered into Bangladesh markets for producing taxis and made JV with local group for assembly unit near Dhaka, reports CNBC-TV18 quoting Business Standard.
However, Jubilant Foodworks, Idea Cellular and Pantaloon Retail fell 0.7-1.5 per cent.
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