Tata Motors was the top gainer on better-than-expected June quarter revenues
On the last day of FY!5, the Sensex ended lower by 18.37 points at 27,957.49.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
Markets closed the day in green on favourable domestic factors,
Asian shares ended higher after a string of positive US economic data.
Banks stocks continued to trade weak along with FMCG major ITC.
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%.
Benchmark indices finished higher on hopes of economic reforms
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
Investors will maintain a cautious stance.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
Capital goods, IT, auto and pharmaceuticals lead gains for the financial year
Financials were the top losers while oil shares also declined amid weak crude oil prices.
The S&P BSE Sensex shed 286 points to close at 24,539 and the Nifty50 lost 100 points to end at 7,456.
Gains were led by Tata Motors amid robust sales in June along with select financials.
Markets end in the red, midcaps in focus
Market participants are now awaiting Thursday's meeting of the European Central Bank
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
Auto stocks are weighing on the indices.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
The 30-share Sensex was up 188 points at 28,415 and the 50-share Nifty was up 58 points at 8,584.
The recovery was led by pharma majors led by Dr Reddy's Labs.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
Most Asian markets ended with gains.
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
Indices reversed all its losses during late trades.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
The 30-share Sensex ended down 39 points at 26,265 and the 50-share Nifty ended down 1 point at 7,954.
Sensex is under pressure due to concerns in the global market.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
The 30-share Sensex closed at 27,112 up by 481 points whereas the Nifty ended higher by 139 points at 8,115.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
The 30-share Sensex ended down 215 points at 27,011.
Mixed global cues and decline in crude oil prices further dent the sentiments.
The broader markets ended in line with the benchmark indices- BSE Midcap and Smallcap indices ended higher by 1.3% and 0.9% each.
The average return for the 2,127 companies outside the A-group is 42 per cent
The FMCG index gained more than 1% on the back of stellar gains in ITC.
Metals, auto and banking shares were in the limelight in this session; the FMCG pack, however, ended lower.
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