The Sensex was holding ground in early trade, as investors continued to draw comfort from the broad sentimental boost derived after a change of guard at the finance ministry.
The benchmark index- the Sensex had risen up to 0.5 percent earlier. The BSE Mid-cap index was up 0.6 percent, outdoing the Sensex, which was up just 0.2percent.
Maruti Suzuki, up 1.8 percent, was the top gainer, while banks were also up. State Bank of India was up 0.6 percent and ICICI Bank 0.3 percent. Among sectoral indices, the BSE metal index was up 1.31 percent. Sesa Goa, up 3 percent, was the top gainer among index constituents.
Weakness in global markets trickled onto domestic markets as they closed in the red. Both the Sensex and the Nifty closed down 0.74 and 0.79 percent. The BSE Sensex, the barometer of the Indian economy, closed down 129 points to 17,391 while the S&P CNX Nifty closed below the 5,300 level at 5,275. The market breadth was negative. On the BSE, 1,767 stocks declined while 1,093 advanced.
Among sectoral indices, all 13 closed in the red. The biggest loser was the metals index (1.5 percent) followed by power and consumer durables. In the 30-share Sensex pack, only three advanced. TCS, Hindalco and Dr Reddy closed in the green. The top losers were Hero Moto Corp (-2.6 percent), Jindal Steel (-2.56 percent), Bajaj Auto (-2.3 percent).
The Indian markets opened on a negative note this morning as global cues cast a shadow on the Sensex, which has been in consolidation mode for the past couple of days.
BSE Sensex was trading at 19693, down 57 points and the Nifty was quoting at 5,962, down 24 points over the previous close. The BSE Small-Cap index and BSE Mid- Cap index was trading down 0.14% and 0.42%.
Oil and Gas , HC, PSU, Power, Realty, Metal, Oil and Gas, Consumer Durables, Bankex, Capital Goods, are the gainers.
It was a volatile session on the street today with the benchmark indices, the Sensex and the Nifty falling 0.7 percent. The BSE Sensex, the barometer of the Indian economy, fell by 120 points to 17,158.4 while the S&P CNX Nifty managed to closed just five points above the 5,200 level at 5,205. The BSE midcap and the small cap fell at a slower pace of 0.23 percent and 0.11 percent, respectively.
The market breadth was negative. On the BSE, 1,655 stock declined while 1,170 advanced. Among sectoral indices, bankex was the biggest loser with a fall of 1.3 percent followed by 1.14 percent and realty (one percent). Banking stocks fell after a Reserve Bank of India committee recommended tightening regulations on loan restructuring, including setting aside higher provisions. ICICI bank fell 1.7 percent, while HDFC Bank fell 1.1 percent.
Indian markets opened in the green today as the Reserve Bank of India is likely to cut the repo rate by 25bps considering sustained moderation in core inflation, government's commitment to fiscal consolidation and sharp slowdown in GDP growth to decade-low levels.
While the Sensex opened 70 points higher at 19350, the Nifty opened up 13 points at 5848.
The BSE Small-Cap index and BSE Mid- Cap index was trading at 0.26 % and 0.26%
ICICI Bank, Bajaj Auto, Tata Motors, Maruti Suzuki, Gail India, Tata Steel, Cipla, Sun Pharma, Bharti Airtel, SBI, RIL, L&T, HDFC, NTPC, Jindal Steel are among gainers in Sensex and Nifty.
BHEL, Coal India, Dr Reddys Lab, TCS, L &T, Hindustan Unilever, HDFC Bank, ONGC, Tata Power are among losers in Sensex and Nifty.
Rate sensitive auto and banking stocks are also trading up ahead of the RBI decision.Maruti is the top Nifty gainer. Shares are up more than 1.5 percent, while ICICI Bank is up 1.6 percent ahead of the RBI decision at 11 am.
There will be some support to the markets from Finance Minister P Chidambaram's statement that the government is considering further liberalising foreign investment cap in various sectors. However, the private sector banks are likely to remain under pressure, as widening its probe into alleged money laundering by banks, the RBI has included sale of gold coins and wealth management operations in its scrutiny.
The Sensex provisionally closed lower by 0.7 percent, a day after closing at their highest since mid-March, on profit taking in select blue-chip stocks that advanced on Tuesday such as ITC. The BSE Sensex closed down 129 points to 17,489 while the Nifty closed down 39 points to 5,306. The market breadth was negative. On the BSE, 1,617 stocks declined while 1,211 advanced.
The BSE midcap and the small cap fell at a lower pace of 0.12 percent and 0.24 percent. Baring capital goods, which just about managed to close 0.37 percent up, all other sectoral indices closed in the red. Autos was the biggest loser with a fall of 1.18 percent.
