Utilities in the power sector present an interesting investment case at this moment. Most power stocks have lost substantial ground in the past 12 months.
Investors became poorer by Rs 1.36 lakh crore on Friday as the markets witnessed a sell-off amid weak global trends. Benchmark stock indices Sensex tanked 671.15 points or 1.12 per cent to close at 59,135.13, as 21 of its scrips declined. The sharp decline in equities eroded Rs 1,36,037.96 crore from the market capitalisation of BSE-listed firms and that now stands at Rs 2,62,94,723.65 crore.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
In the Sensex pack, IndusInd Bank was the top gainer, soaring around 8 per cent, followed by Bajaj Finance, Axis Bank, PowerGrid, ONGC, ICICI Bank, Sun Pharma and M&M.
Kotak Bank was the top laggard in the Sensex pack, shedding over 2 per cent, followed by ITC, PowerGrid, M&M, HDFC, Asian Paints and NTPC. On the other hand, Maruti rallied over 4 per cent. Bharti Airtel, Axis Bank, IndusInd Bank and Bajaj Finance were also among the gainers.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
The NSE Nifty ended at 4,655, up 104 points. The breadth turned negative towards the end, out of 2,831 shares traded, 1,218 advanced, 1,553 declined and 60 were unchanged on the BSE.
The NSE Nifty ended at 4,293, up 46 points. The market breadth was fairly positive. Out of 2,668 stocks traded, 1,801 advanced while 797 declined.
Sustained buying in heavyweights like L&T, Reliance and ICICI Bank and power scrips (BHEL, NTPC and REL) saw the index zoom to a high of 17,838 - an intra-day gain of nearly 890 points - towards the closing bell. The NSE Nifty finished with a gain of 273 points (5.5%) at 5,202.
The Sensex opened with a positive gap of 108 points at 20,836 and touched a high of 20,873 in early deals. The index slipped into negative zone soon, and exhibited a weak trend for the rest of the trading day.
The Sensex opened with a positive gap of 56 points at 15,806 and moved up to a high of 16,003 in late morning deals. The Sensex finally closed with a gain of 82 points at 15,832. Satyam, Wipro, TCS, Infosys, HUL, Reliance, Tata Steel and Hindalco were major gainers. BHEL, Reliance Energy, Maruti and M&M were major losers. Reliance Capital was the most active counter with a turnover of Rs 250 crore followed by GSS America (Rs 245cr), also BHEL, Reliance Petroleum and Reliance.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
The 30-share Sensex gained 271 points to end at 28,805 and the 50-share Nifty ended up 84 points at 8,712.
the Sensex lost 23 points to close at 28,185 levels and the Nifty shed 7 points to end at 8,515 mark.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The 30-share Sensex ended down 32 points at 28,851 and the 50-share Nifty closed 12 points lower at 8,712.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
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 broader markets are outperforming the benchmark indices.
BSE Power, Healthcare, Capital Goods, FMCG and Metal indices gained between 0.6-1%.
Monsoon is expected to be normal in June.
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 27,403 and 8,248 respectively.
Markets ended lower following expiry of July F&O contracts and sales by foreign funds.
BSE Midcap and Smallcap indices ended in line with their larger counterparts and closed marginally up 0.2% and 0.4%, each
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
The 30-share Sensex ended 271 points higher to end at 28,930 and the 50-share Nifty climbed 76 points to close at 8,776.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
The index had risen over 585 points in the previous three sessions.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
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