Mkt outperforms global peers, closes flat ahead of expiry

Indian shares have seen a consolidation for the third consecutive session Wednesday after the benchmarks hit a 14-month high last Friday. The 50-share NSE Nifty, which has been in a range of 5650-5700 since the beginning of this week, fell 10.45 points to close at 5,663.45 ahead of F&O expiry tomorrow.

Indian markets outperformed global peers, which may be attributed to consistent inflow of foreign money and hopes of more measures from government to review the sluggish economy.

Foreign institutional investors (FIIs) have net bought more than Rs 19,000 crore highest monthly inflow since the February 2012 - worth of shares in September so far (including yesterday's provisional figure). Yesterday, FIIs have bought over Rs 5,800 crore worth of shares highest one-day inflow since February 24 as per provisional data available on NSE website.

Jitendra Sriram of HSBC India says market looks a little vulnerable, having hogged more than its share of flows -- almost USD 15 billion in 2012. He says markets have a habit of sometimes running ahead of fundamentals, which seems the case right now. "They (market) will need to pause and allow fundamentals to catch up and I suspect this is going to be such a phase from hereon," he told CNBC-TV18.

The 30-share BSE Sensex lost 62.24 points to end at 18,632.17 while Nikkei tanked 2 percent. Shanghai declined 1.24 percent and Hang Seng was down 0.8 percent.

Major European markets went down 1-2 percent (at 15:31 hours IST) on concerns over Eurozone debt crisis and riots in Spain ahead of a new round of austerity measures that due to be announced tomorrow. Peripheral markets like Spain's IBEX and Italy's FTSE MIB tumbled over 2.5 percent.

Patrick Legland, Global Head of Research, Societe Generale said, "The market now is back to reality." The euphoria over the ECB's bond buying programme and a third round of quantitative easing or QE3 from the US Federal Reserve seems to have worn off.

Back home, top telecom operator Bharti Airtel topped the selling list with a fall of 4 percent while Reliance Communications lost 1.56 percent.

Commercial vehicle maker Tata Motors and aluminium major Hindalco Industries fell 2 percent each. Country's largest coal mining company Coal India was down 2.8 percent.

Housing finance company HDFC and private sector lender HDFC Bank were down 1 percent each. Public sector lender State Bank of India gained 1.4 percent.

Engineering conglomerate Larsen & Toubro, software services exporter TCS and state-run oil & gas producer ONGC declined 0.6-1 percent.

Cigarette major ITC rose 1 percent and index heavyweight Reliance Industries went up 0.5 percent.

Two-wheeler maker Hero Motocorp was up 1.6 percent and drug producer Cipla rallied 2.66 percent.

Cement makers hogged the limelight today; ACC and Ambuja Cements surged nearly 4 percent. India Cements shot up 7.6 percent.

The broader markets outperformed benchmarks; the BSE Midcap Index was up 0.3 percent and Smallcap rose 0.65 percent. The market breadth was neutral.

In the second line shares, Pantaloon Retail rallied for the second consecutive session today, rising 4 percent. It was the most active today and had gained 10 percent yesterday.

Kingfisher Airlines jumped 9 percent ahead of lenders meet tomorrow.

State-run REC and PFC fell 3-4 percent on profit booking. IFCI lost nearly 6 percent after the SEBI has approved a proposed hike of the government's stake in the company to 55.57 percent to make it a state-run company.

The NSE Nifty has been moving in a narrow range of 5640-5670 since early trade ahead of expiry tomorrow, though it was down 17.5 points to 5,656.5. Today's fall attributed to global weakness as the uncertainty continued over Spain bailout. France's CAC, Germany's DAX and Britain's FTSE fell 1-1.5 percent.

Meanwhile, the 30-share BSE benchmark declined 67.5 points to 18,627, weighed down by Tata pack, telecom, HDFC pack, metals and capital goods stocks.

FMCG majors ITC and Hindustan Unilever gained nearly 1 percent. Country's largest lender State Bank of India rose 1.4% while its rival HDFC Bank tanked 1.5%. Housing finance company HDFC slipped 1.3%.

Private sector lender Axis Bank gained 3 percent on short covering. Drug producer Cipla, and cement stocks ACC and Ambuja Cements rallied 3-4 percent.

Index heavyweight Reliance Industries was up 0.2 percent. Two-wheeler majors Hero Motocorp and Bajaj Auto were up 1.1 percent and 0.4 percent, respectively.

Telecom operator Bharti Airtel dropped over 4 percent and commercial vehicle maker Tata Motors tumbled 1.75 percent.

Shares of Infosys, Larsen & Toubro, ONGC, Tata Steel, Sun Pharma, Sterlite and BHEL were down 0.5-0.9 percent.

Indian equity benchmarks extended losses following further fall in European markets. Country's largest telecom operator Bharti Airtel plunged nearly 5 percent while drug producer Cipla, and cement stocks ACC and Ambuja Cements topped the buying list with 2.5-3.5 percent gains.

The 30-share BSE Sensex fell 102 points to 18,592.45 and the 50-share NSE Nifty lost 28.3 points to 5,645.60.

Housing finance company HDFC and private sector lender HDFC Bank were down 1.4 percent each.

Engineering conglomerate Larsen & Toubro and state-run power equipment manufacturer BHEL slipped 1 percent each. Commercial vehicle maker Tata Motors and aluminium major Hindalco Industries tumbled 2 percent.

Private sector lender ICICI Bank was down 0.4 percent while its rival State Bank of India gained 0.3 percent.

Country's largest coal mining company Coal India plummeted 2.5 percent. Shares of Jindal Steel and Tata Steel fell 1 percent each.

FMCG majors ITC and Hindustan Unilever rose over 0.8 percent.

France's CAC, Germany's DAX and Britain's FTSE lost 1-1.5 percent as popular opposition within the euro zone to budget austerity measures unnerved investors already worried about a weak global growth outlook.

The market's focus was on Spain and Greece: protesters clashed with police in Madrid on Tuesday as the government prepared to unveil its 2013 budget on Thursday; and Greeks held a general strike as ministers sought to renegotiate a bailout. Spain's IBEX and Italy's FTSE MIB tanked over 2%.

The euro too hit a two-week low 1.2856, which fell by 0.3 percent to 1.2863 against the US dollar. The Indian rupee fell by 21 paise to 53.57 against the US dollar.

Indian shares continued to trade marginally lower, weighed down by private banking, technology, capital goods and telecom stocks. European markets were down in early trade on concerns over Spain bailout and even riots over austerity added fuel to the fire. Britain's FTSE dropped 0.75 percent and Germany's DAX declined nearly 1 percent while France's CAC was down 1.26%.

The BSE benchmark fell 61.26 points to 18633.15 and the NSE benchmark was down 13 points to 5,661.25.

Cement stocks outperformed other largecaps; ACC rallied 3.48 percent and Ambuja Cements gained 2.64 percent.

Drug producer Cipla surged 2.5 percent while its rival Ranbaxy Labs was up 1.2 percent.

Cigarette major ITC, private sector lender Axis Bank and state-owned gas transportation services provider GAIL rose 1 percent each.

Index heavyweight Reliance Industries went up 0.5 percent and FMCG major Hindustan Unilever moved up 0.64 percent.

Country's largest telecom operator Bharti Airtel topped the selling list, losing 3.5 percent.

Shares of Coal India, Hindalco, HDFC Bank, BHEL and Bank of Baroda were down 1-2 percent.

Advancers outnumbered decliners by 1406 to 1153 on the Bombay Stock Exchange.

Most active shares on exchanges were Max India, United Spirits, UB Holdings, Pantaloon Retail, CORE Education, SBI, Axis Bank and ITC.

Indian equity benchmarks pared losses as index heavyweight Reliance Industries rebounded with 0.3 percent gains. Country's largest lender State Bank of India too recouped losses, rising 0.8 percent.

The 30-share BSE Sensex went down 30 points to 18,664.53 and the 50-share NSE Nifty lost just 4 points to 5,670.10.

FMCG majors ITC and Hindustan Unilever were up 0.6-0.9 percent. Drug producers Cipla and Sun Pharma moved up 1.7 percent and 0.5 percent, respectively.

Housing finance company HDFC fell 0.6 percent and private sector lender HDFC Bank was down 1 percent.

Telecom operator Bharti Airtel retained its top position in the selling list with 3 percent fall.

Engineering conglomerate Larsen & Toubro was down 0.7 percent. L&T has acquired 9.72 percent stake in Astra Microwave, which surged 12 percent, on September 25.

Commercial vehicle maker Tata Motors and software services exporter Infosys slipped over 0.6 percent.

State-run power equipment maker BHEL fell 1 percent on profit booking after the stock rallied 11 percent in previous three sessions.

The broader markets extended gains; the BSE Midcap Index gained 0.6 percent and Smallcap rose 1%. Advancing shares outnumbered declining by 825 to 590 on the National Stock Exchange.

The 30-share BSE Sensex fell 100 points, weighed down by banks, oil & gas, metals, telecom and capital goods stocks. Asian markets remained under pressure on concerns over Spain bailout. Nikkei extended fall to 2 percent while Shanghai, Hang Seng, Kospi, Taiwan Weighted and Straits Times lost 0.6-1 percent.

The BSE benchmark went down 97 points to 18,597.54 and the NSE benchmark slipped 24 points to 5,650.05. The Indian rupee too declined by 18 paise to 53.54 against the US dollar and even Euro plummeted 0.19 percent to 1.2875 (which hit 1.31 in second week of September after Fed stimulus and German court ruling)  to the US dollar.

But the broader markets outperformed benchmarks; the BSE Midcap Index was up 0.5 percent and Smallcap gained 0.7 percent. Advancing shares outnumbered declining by 1296 to 843 on the BSE.

Housing finance company HDFC and private sector lender HDFC Bank fell 1 percent each. Country's  largest lenders State Bank of India and ICICI Bank were down 0.8 percent each.

Telecom operator Bharti Airtel topped the selling list with 3 percent fall. Index heavyweight Reliance Industries and software services exporter Infosys dropped 0.6 percent.

FMCG majors ITC and Hindustan Unilever gained 0.6 percent and 1 percent, respectively. Drug producer Cipla rallied 1.6 percent while its rival Sun Pharma was up 0.5 percent.

In the second line shares, S Mobility, Redington, HMT, Jyothy Labs and Prism Cement gained 5-7 percent while IFCI, Tulip Telecom, Greaves Cotton, Gujarat Pipavav and WABCO India lost 2-5 percent.

The BSE Sensex fell 70 points in early trade following weakness in global markets as the uncertainty over Spain bailout continued. Riots over Spain's austerity added fuel to the fire.

Overall the market remained in a consolidation mode ahead of expiry tomorrow. The BSE benchmark slipped 70.08 points to 18624.33 and the NSE benchmark was down 23 points to 5,650.80.

The market has not been getting any major correction due to consistent inflow of foreign money. Yesterday foreign institutional investors (FIIs) have net bought Rs 5,846 crore worth of equity shares in cash market, as per provisional data available on the NSE.

Maruti Suzuki plummeted 1.6 percent after the company completed settlement with Gurgaon workers.

ICICI Bank, L&T, Tata Motors, ONGC, Bharti Airtel, HDFC, Infosys, Tata Power, Sterlite Industries, Hindalco, Sesa Goa, Axis Bank and State Bank of India were under pressure.

BHEL fell 1.2 percent on profit booking after rising over 10 percent in previous three sessions.

Defensives like ITC, Hindustan Unilever, Cipla, TCS and Wipro were supporting the market.

The CNX Midcap Index fell 32 points to 7656. Declining shares outnumbered advancing by 547 to 381 on the National Stock Exchange.

In the second line shares, Max India gained nearly 1 percent as about 2 percent equity changed hands on the BSE at Rs 189 per share.

IFCI tanked 9 percent as the SEBI has approved government's stake hike in the company to 55.57 percent.

Tulip Telecom plunged 5 percent on reports that promoters may have pledged some shares.

Deccan Chronicle Holdings lost 1.5 percent as lenders failed to admit the company into corporate debt restructuring (CDR) cell.

Power Finance Corpoation and REC went down 1 percent each.

Alok Industries slipped 2 percent on dilution of equity. The company plans to raise Rs 551 crore via rights issue

Liquor baron Vijay Mallya-led UB group stocks have been on buyers' radar after the United Spirits confirmed that they are in talks with Diageo for stake sale. Kingfisher Airlines gained 4% ahead of AGM today.

United Breweries and United Spirits were up 1%. UB Holdings rose 6%.

ITI and Adani Port rallied 3-5%.