Metal stocks were trading under pressure while IT, auto, realty stocks gained in today's deals
An expectation of tax sops in Budget, weakness of dollar and robust tax collection are adding positive sentiment
23 Nifty companies reported an annual decline in net profit.
The sentiment got support from better-than-expected earning results by select companies and continuous buying by domestic financial institutions.
Manufacturing companies have been outperformers on the bourses in the current year, leading to a rise in their weighting in the benchmark index. Companies in sectors such as FMCG, automobile, pharmaceuticals, metals, cement, and agrochemicals now account for 25.43 per cent of the Nifty 50 index, up 88 basis points from 24.55 per cent at the end of December last year and a record low of 23.1 per cent at the end of CY20. The manufacturing sector is now dominated by FMCG majors such as Hindustan Unilever, ITC, Asian Paints, Nestle, and Britannia, accounting for 45 per cent of the combined market cap of all manufacturing companies in the index.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. NSE Nifty declined 124.10 points to 14,906.05.
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M. In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent.
HDFC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Bajaj Finserv, M&M, NTPC, Bharti Airtel, UltraTech Cement and ONGC. NSE Nifty rose 98.35 points to 14,823.15.
Oil & gas, banking and pharma sector stocks stole the show
Pharma major Lupin and mortgage lender HDFC were the top losers.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
BSE Midcap and BSE Smallcap indices registered an uptick of 0.06%, and 0.05%, respectively
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
Rise in crude oil price and rally in global equities aided the sentiment
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
The markets across the globe advanced after the European Central Bank announced a series of policy measures aimed at raising liquidity in European banks, easing concerns that an escalating debt crisis could trigger the collapse of European banks.
Equity benchmarks Sensex and Nifty on Friday spurted by nearly 2 per cent, propelled by heavy buying in IT, metal and financial stocks amid a rally in global markets after lower-than-expected US inflation data. A strong rupee against the US dollar and unabated foreign capital inflows further bolstered sentiment, traders said. Easing US inflation triggered speculation that the US Federal Reserve might slow down the pace of interest rate hikes.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
HDFC and Infosys contribute the most to today's rally.
Market sentiment suffered a jolt after other Asian markets closed with widespread losses and European markets dropped in early trade
Sun Pharma was the best gainer among Sensex components, surging 6.91 per cent
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Equity indices staged a pullback on Tuesday after three days of declines as investors scooped up IT, metal and consumption stocks amid a largely positive trend overseas. A recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex climbed 274.12 points or 0.45 per cent to settle at 61,418.96.
n the broader market, BSE Midcap and Smallcap indices are trading higher by 0.3% each.
About 1,556 shares have advanced, 1,211 shares declined, and 182 shares are unchanged.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
Markets end in the red, midcaps in focus
Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
HDFC was the top loser in the Sensex pack, shedding over 1 per cent, followed by Nestle India, ICICI Bank, Kotak Bank and HDFC Bank. The NSE Nifty declined 15.35 points to 17,546.65.
The NSE Nifty ended at 5,058, up 59 points. All the sectoral indices barring the IT index ended in green. The rally was led by realty and auto indices were up 3%, respectively.
NTPC was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finserv, SBI, Bajaj Finance, Tech Mahindra, Dr Reddy's and Tata Steel.
Benchmark stock indices Sensex and Nifty closed higher for a second straight session on Monday following buying in index majors Reliance Industries, ICICI Bank and recovery in global markets.
Volatility returned to haunt the Street in the post-lunch session
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
