Sensex ends lacklustre; winter session day 1 damp squib

Indian equity benchmarks remained listless on Thursday as investors were sceptical over bills getting passed in the winter session of Parliament.

The 30-share BSE Sensex was up 56.96 points to close at 18,517.34, helped by ITC, Infosys, L&T, HDFC Bank and SBI. Meanwhile, the 50-share NSE Nifty rose 12.95 points to 5,627.75.

Yesterday the market rallied over 100 points on the Sensex on hopes of smooth functioning of Parliament on Thursday. However, the first session of Lok Sabha was adjourned for the day after FDI uproar while the Rajya Sabha adjourned till Friday over SC/ST quota bill.

Experts see only 55 percent probability of any serious legislative action happening.

''Some amount of legislative action maybe possible. If it happens, to some extent the market will heave a sigh of relief that atleast there is some progress on legislation but otherwise it is pretty much par for the course,'' Anand Tandon, CEO of JRG Securities said.

Country's largest lender State Bank of India rose 1.9 percent on hopes that the government will infuse capital in PSU banks this week. Private sector lender HDFC Bank moved up 1 percent whereas its rival ICICI Bank lost 1 percent.

Software services exporters Infosys and Wipro gained 1.55 percent and 1 percent, respectively.

Engineering conglomerate Larsen & Toubro extended gains in second half of trade, rising 1.7 percent while Jaiprakash Associates and Reliance Infrastructure went up 1 percent each.

Cigarette major ITC, utility vehicle major Mahindra & Mahindra, steel producer Sterlite Industries and aluminium major Hindalco were up 1 percent too.

Meanwhile, India's largest commercial vehicle manufacturer Tata Motors widened its losses in late trade, losing 2.5 percent.

Shares of Reliance Industries, HDFC, TCS, ONGC, BHEL and Cipla were down 0.2-0.5 percent.

In the second line shares, state-owned Hindustan Copper shot up 11 percent amid large volumes after the empowered group of ministers has approved 4 percent divestment in the company yesterday.

Blue Dart Express was locked at 20 percent upper circuit today ahead of offer for sale tomorrow . Promoter DHL, which holds 81 percent stake in Blue Dart, will offload 6.03 percent stake on Friday.

The broader markets were up just 0.3 percent as the market breadth was neutral on the Bombay Stock Exchange.

The market was trading at day's high with the 30-share BSE Sensex gaining 100 points, boosted majorly by Infosys and Larsen & Toubro. ITC, SBI and HDFC Bank too were on buyers' radar.

The BSE benchmark moved up 103.31 points to 18,563.69 while the NSE benchmark rose 27.30 points to 5,642.10.

State-controlled Hindustan Copper surged 13.29 percent amid large volumes after the empowered group of ministers cleared 4 percent divestment in the company .

Blue Dart Express was locked at 20 percent upper circuit ahead of offer for sale tomorrow . Promoter DHL, which holds 81 percent stake in Blue Dart, will offload 6.03 percent stake on Friday.

Software exporter majors Infosys and Wipro were up 1.8 percent and 1 percent, respectively.

Engineering conglomerate Larsen & Toubro rallied 2 percent while country's largest lender State Bank of India jumped 2.3 percent.

Among metals stocks, Tata Steel, Sterlite Industries and Hindalco Industries gained 1 percent each.

Meanwhile, utility vehicle maker M&M and top car maker Maruti Suzuki climbed 0.75 percent.

Private sector lender HDFC Bank rose 1 percent whereas its rival ICICI Bank was down 0.4 percent.

However, the selling in Reliance Industries, TCS, Bharti and Airtel has limited the gains in benchmarks. Commercial vehicle major Tata Motors was down over 1 percent.

Indian equity benchmarks were flat to positive since early trade due to lack of triggers. Software services exporter Infosys and engineering conglomerate Larsen & Toubro extended gains to 1.4 percent and 1 percent, respectively.

The 30-share BSE Sensex rose 54 points to 18,514.46, helped by Infosys, SBI, HDFC Bank and L&T. Meanwhile, the 50-share NSE Nifty moved up 11.55 points to 5,626.35.

The winter session of Parliament started today but could not proceed further as it has adjourned till 2 pm on FDI uproar while Rajya Sabha already adjourned till Friday over SC/ST quota bill.

Experts feel the market plunge is likely if walkouts and ruckus takes place in Parliament.

"If in the first couple of days you see same kind of ruckus and the same kind of lack of activity coming through then I think the market might view it negatively and take a southward move ," Jitendra Sriram, managing director & head of research, HSBC India said.

Country's largest lender State Bank of India jumped over 2 percent on hopes of likely capital infusion this week. Banking Secretary said would announce capital infusion plan for PSU banks this week and SBI would get funds under capital infusion plan.

Private sector lender HDFC Bank and software services exporter Wipro were up 1 percent each.

Meanwhile, commercial vehicle major Tata Motors fell 1.4 percent. Shares of Reliance Industries, Sun Pharma, BHEL, Tata Power and Cipla were down 0.5-0.8 percent.

The BSE Sensex continued to consolidate around its previous closing values. Investors are not keen to take big positions on either side as the Parliament adjourned till afternoon on the first day itself.

The 30-share BSE benchmark gained 35.5 points at 18,495.87 while the 50-share NSE benchmark rose 5 points to 5,619.90.

Banking Secretary said the State Bank of India would get funds under capital infusion plan. "We will announce capital infusion plan for PSU banks this week," he added. According to him, the government is also considering the option of rights issue by PSU banks. The stock was up 1.76 percent.

Private sector lender HDFC Bank, engineering conglomerate Larsen & Toubro and top telecom operator Bharti Airtel were up over 0.8 percent.

Shares of HDFC, Mahindra & Mahindra, Maruti, Tata Steel, Bajaj Auto and Sterlite Industries gained 0.3-0.6 percent.

Infosys, India's second largest software services exporter extended gains to 1 percent whereas its rival TCS declined 0.36 percent.

Index heavyweight Reliance Industries fell 0.7 percent while healthcare firm Sun Pharma and commercial vehicle major Tata Motors were down over 1 percent.

Most active shares on exchanges were State Bank of India, United Spirits, Hindustan Copper, Jet Airways, L&T Finance, Axis Bank and Bharti Airtel.

Indian equity benchmarks were lacklustre as investors looked cautious as the winter session of Parliament kickstarts today.

The 30-share BSE Sensex was up 49 points to 18,509.25 and the 50-share NSE Nifty gained 12.5 points at 5,627.25.

Experts feel that the winter session is likely to be stormy with no major Bills passed. However, Independent Analyst, Ambareesh Baliga thinks that the market has already discounted that to a large extent .

Baliga is cautions on the market. "It's a no trade zone. We are in the region of 5,550 to 5,650. It's better to stay out for a while. In case things move well and we are able to break 5,650 decisively on the upside then one can start buying, but till then one should just stay out," he adds.

Public sector lender State Bank of India climbed 1.37 percent while its rivals ICICI Bank and HDFC gained 0.4 percent on hopes that Banking Laws (Amendment) Bill is likely to be passed.

Housing finance company HDFC, software services provider Infosys and engineering conglomerate Larsen & Toubro advanced 0.6 percent each.

Meanwhile, private oil & gas producer Reliance Industries was down 0.3 percent while commercial vehicle maker Tata Motors, private power producer Tata Power and software exporter major TCS fell 0.6 percent.

Cement stocks like Ambuja Cements and ACC were under pressure, losing 2 percent and 1 percent, respectively.

In the second line shares, Blue Dart rallied 10 percent ahead of offer for sale issue that will begin tomorrow. STC India, National Fertiliser, Sun Pharma Advanced and Greaves Cotton were up 3-6 percent.

Max India, City Union Bank, Ybrant Digital, Mahindra Holidays and Sanofi India were down 2-3.5 percent.

The BSE Sensex gained 60 points in early trade on Thursday following positive Asian cues, helped by banking & financials, FMCG, capital goods and metals stocks. Investors will closely watch the stormy winter session of Parliament that will start today as the BJP says Parliament will not function unless the government agrees on a vote on FDI in retail.

The 30-share BSE Sensex was up 61.27 points to 18,521.65 and the 50-share NSE Nifty went up 14.75 points to 5,629.55.

Asian markets were trading higher barring Shanghai. Hang Seng, Nikkei, Straits Times, Kospi and Taiwan Weighted were up 0.3-1 percent whereas Shanghai lost 0.5 percent.

Back home, country's largest lender State Bank of India was up 1.37 percent whereas its rivals ICICI Bank and HDFC Bank moved up 0.4-0.6 percent.

Housing finance company HDFC, engineering conglomerate Larsen & Toubro and FMCG major Hindustan Unilever advanced 0.6 percent.

Among auto stocks, Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Bajaj Auto and Hero Motocorp gained 0.6-1.3 percent.

Shares of ITC, TCS, Sun Pharma and Tata Power were down 0.2-0.8 percent.

The CNX Midcap rose 27 points to 7,783. The market breadth was strong; about 653 shares advanced while 205 shares declined on the National Stock Exchange.

In the second line shares, West Coast Paper was locked at 5 percent upper circuit.

Great Offshore gained 3 percent. Kingfisher, SpiceJet and Jet Airways climbed over 1 percent. Anant Raj Industries was up 1.8 percent. Pantaloon Retail moved up 1 percent ahead of the winter session of Parliament.

On the losing side, Blue Dart fell 2 percent as promoter DHL is going to offload 6.03 percent stake on Friday.

Hindustan Copper was down 0.7 percent after empowered group of ministers has cleared 4 percent divestment in the company .

Among media stocks, Zee Entertainment and Den Networks were up 1-1.5 percent.