Analysts attribute this volatility to selling by FPIs and FIIs.
The Bajaj Auto management and its union on Friday came to the negotiating table in a bid to end the four-day-old strike by over 1,500 workers at the Chakan plant demanding wage revision and better working conditions apart from a hefty paring of the companies shares with employees.
IT, pharma and FMCG stocks are the top performers in 2013.
The Sovereign Gold Bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges -- the NSE and BSE.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
Taking a step forward in its $500 million deal to snap up Air Sahara, Jet Airways on Thursday announced it had reached an understanding with the other airline to provide consultancy support to improve its performance in various fields.
The board meeting also saw Mehta, 57, being re-appointed as MD & CEO for a period of five years after the completion of his term in October
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
The merger has fortified Sun Pharma's position.
RTSF will be managed aggressively like its diversified equity fund siblings; also the fund is likely to be a high risk - high return investment proposition.
The index displayed range-bound (17,400-17,500) movement for the major part of the trading session on Friday. A fresh round of selling towards the close saw the index slip to a low of 17,295 - down 440 points from the previous close. The NSE Nifty dropped 81 points (1.6%) to close at 5,111.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Sensex ends in green on boost from bluechip stocks.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Markets ended weak tracking the expiry of April derivative contracts.
Besides launching 50 products with a refreshed logo, Britannia to issue bonus debentures of Rs 720 crore
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
The shares will be bought in the open market on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) over a period of time.
DLF opened on a weak note in the Bombay Stock Exchange on Monday at Rs 500.05 and then declined further and hit an intra-day low of Rs 488.60, a 6.43 per cent fall from its previous close. The realty major was quoted at Rs 490, down 5.76 per cent at 10.41 am and over 3.54 lakh shares exchanged hands on the BSE.
Indices reversed all its losses during late trades.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
The BSE Sensex was among the world's best performers in 2014, rising almost 30 per cent after Prime Minister Narendra Modi took office on promises of reforms to boost growth
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
In the biggest aviation takeover in India, Jet Airways has struck a deal to buy Sahara Airlines for Rs 2,300 crore (Rs 23 billion), a move that would help Naresh Goyal promoted carrier to become the biggest domestic carrier.
The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.
Benchmark indices finished higher on hopes of economic reforms
Morepen Laboratories is all set to gain from the 180-day marketing exclusivity granted to Geneva Pharmaceuticals Inc for Loratadine in the U S.
At face value of Rs 2,893 and interest payout of 2.5 per cent, sovereign gold bonds offer best route to invest in yellow metal, says Tinesh Bhasin
Reversing the trend that saw the BSE index soaring to over 8,500, the stock markets plummeted on Wednesday, shelving 235 points amid an alert sounded by the government on the sharp increase in penny stocks.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
911 have been traced by the Securities and Exchange Board of India (Sebi), while the rest of the 402 are not traceable on the bourses
The good times continued for fund investors as equity markets closed in positive terrain for the third week in a row.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Investors on Friday lost a staggering Rs 50,000 crore (Rs 500 billion) in the stock markets as prices of most of the blue-chip shares fell sharply pulling down the Sensex by 220 points, the single largest fall since May 2004.
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
