Nifty ends near 5600; realty, banks, pharma down
MUMBAI: Indian markets ended near crucial support levels Thursday on the settlement day of January F&O series. Inflation and profit booking in European markets kept the bulls under check.
India's food inflation rose 15.57 per cent and the fuel price index climbed 10.87 per cent in the year to January 15. In the prior week, annual food and fuel inflation stood at 15.52 per cent and 11.53 per cent.
Indices opened on a positive note but slipped in the red due to lack of buying support. The selling pressure aggravated in the afternoon as traders booked profits in rate sensitive sectors on concerns of rate hikes. According to analysts the market is expected to slip lower in coming sessions.
Theres no more trigger left in the market. But looking at the correction, we expect the Nifty to see a decline of 100-150 points, said Dharmesh Desai, Vice President, Asian Market Securities.
National Stock Exchanges Nifty closed at 5604.30, down 83.10 points or 1.46 per cent. The 50-share index touched a low of 5594.95 and high of 5726.10 in todays trade.
Bombay Stock Exchanges Sensex ended at 18684.43, down 285.02 points or 1.50 per cent. The 30-share index touched a low of 18656.05 and high of 19086.69 intra-day.
BSE Midcap Index was down 1.88 per cent and BSE Smallcap Index moved 1.35 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 3.57 per cent, BSE Healthcare Index moved 2.61 per cent lower, BSE Metal Index declined 1.98 per cent and BSE Bankex declined 1.85 per cent.
DLF (-5.42%), Sterlite Industries (-5.28%), M&M (-4.87%), Reliance Communications (-3.88%), and Hindustan Unilever (-3.78%) were the top Sen! sex lose rs.
The arbitration panel, hearing the matter of exercise by Sterlite Industries of its call option to purchase 49 per cent equity in BALCO from the government, has ruled that call-option is in violation of section 111A(2) of Indian Companies Act. Sterlite Industries can face hurdle in their corporate restructuring programme due to the panel order.
Tata Motors (2.48%) and TCS (0.62%) were the only gainers.
Market breadth was negative on the BSE with 1883 declines against 940 advances.
India's food inflation rose 15.57 per cent and the fuel price index climbed 10.87 per cent in the year to January 15. In the prior week, annual food and fuel inflation stood at 15.52 per cent and 11.53 per cent.
Indices opened on a positive note but slipped in the red due to lack of buying support. The selling pressure aggravated in the afternoon as traders booked profits in rate sensitive sectors on concerns of rate hikes. According to analysts the market is expected to slip lower in coming sessions.
Theres no more trigger left in the market. But looking at the correction, we expect the Nifty to see a decline of 100-150 points, said Dharmesh Desai, Vice President, Asian Market Securities.
National Stock Exchanges Nifty closed at 5604.30, down 83.10 points or 1.46 per cent. The 50-share index touched a low of 5594.95 and high of 5726.10 in todays trade.
Bombay Stock Exchanges Sensex ended at 18684.43, down 285.02 points or 1.50 per cent. The 30-share index touched a low of 18656.05 and high of 19086.69 intra-day.
BSE Midcap Index was down 1.88 per cent and BSE Smallcap Index moved 1.35 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 3.57 per cent, BSE Healthcare Index moved 2.61 per cent lower, BSE Metal Index declined 1.98 per cent and BSE Bankex declined 1.85 per cent.
DLF (-5.42%), Sterlite Industries (-5.28%), M&M (-4.87%), Reliance Communications (-3.88%), and Hindustan Unilever (-3.78%) were the top Sen! sex lose rs.
The arbitration panel, hearing the matter of exercise by Sterlite Industries of its call option to purchase 49 per cent equity in BALCO from the government, has ruled that call-option is in violation of section 111A(2) of Indian Companies Act. Sterlite Industries can face hurdle in their corporate restructuring programme due to the panel order.
Tata Motors (2.48%) and TCS (0.62%) were the only gainers.
Market breadth was negative on the BSE with 1883 declines against 940 advances.
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