Nifty closes below 5400 ahead of settlement week

The 50-share NSE Nifty closed below the 5400 level for the first time this week on Friday, weighed down by weak Asian cues after doubts over Greece's future in the Eurozone and easing of hopes of US QE3. The index fell 28.65 points to close at 5,386.70 ahead of F&O expiry week, after hitting an intraday low of 5,371.

Sudarshan Sukhani, s2analytics.com feels that if the Nifty cracks on Monday then the advisable action would be to close long positions and then even below 5350 start looking for selling.

Meanwhile, the 30-share BSE benchmark was down 67.01 points to 17,783.21 after falling as much as 125 points intraday, due to downward journey in infrastructure and banks stocks. Reliance Industries and Infosys too added fuel to the fire.

The Indian rupee too depreciated by 18 paise to 55.44 against the US dollar, at 15:31 hours IST.

Engineering and construction major Larsen & Toubro and state-owned power equipment manufacturer fell nearly 1%. Power producers NTPC and Tata Power declined 1% each.

Country's largest lenders State Bank of India and ICICI Bank slipped 1.8% and 0.92%, respectively while their rival HDFC Bank was down 0.2%.

Metals stocks dropped on profit booking; Tata Steel tanked 2.7%; Jindal Steel and Hindalco lost 2% each whereas Sterlite Industries gained 0.6%.

Reliance Industries, India's most valued stock tumbled 1.55% whereas state-run oil & gas producer ONGC rallied 2%.

Utility vehicle major Mahindra & Mahindra went down 1.2% after the management cut tractor sales forecast to 2% from 10% for FY13.

Top coal producer Coal India jumped over 2% as the company is going to consider buy back of shares in the upcoming annual general meeting that scheduled for September 18.

Cigarette major ITC and housing finance company HDFC went up 0.5% each.

Shares of Tata Motors, Maruti Suzuki and Bajaj Auto bounced back in late trade to close with 0.2-0.9% gains.

For the week, the Sensex gained 0.52% and the Nifty rose 0.4%. Foreign institutional investors have bought nearly Rs 8,500 crore (till August 23) worth of shares consistently since July 27.

In the second line shares, Suven Lifesciences and Venus Remedies, which touched 52-week high today, rose 10% and 17%, respectively.

S Kumars, Jain Irrigation, Opto Circuits, MTNL, Orchid Chemical, Aurobindo Pharma, Gujarat NRE Coke, JSW Steel and Reliance Power gained 2-7%.
 
IFCI tanked 16% as the Cabinet has approved conversion of company's debentures held by government to equity.

Lanco Infratech, NCC, Indiabulls Real, HDIL and SKS Microfinance were down 3-5%.

The BSE Midcap Index declined 0.6% and Smallcap lost 0.8%. Decliners outnumbered advancers by 945 to 472 on the National Stock Exchange.

Nifty, Sensex off day's low; ONGC, Coal India spike 2-3%

The BSE benchmark trimmed losses from 125 points to 69 points in afternoon trade. State-owned oil & gas producer ONGC and country's largest coal producer Coal India (CIL) gained more than 2% and 3%, respectively. CIL is going to consider buy back of shares in a meeting on September 18.

The 30-share BSE Sensex declined 69 points to 17,781.55 and the 50-share NSE Nifty lost 26 points to 5,389.15.

Shares of ITC, Tata Motors, HDFC, Sterlite Industries, Maruti and Hero Motocorp moved up 0.5%-1%.

Index heavyweight Reliance Industries was down 1.4% and engineering and construction major Larsen & Toubro fell over 1%.

Country's largest lenders State Bank of India and ICICI Bank were down 0.9% and 1.65%, respectively.

Software services exporter Infosys and utility vehicle maker Mahindra & Mahindra declined over 1%. NTPC, Tata Power and BHEL went down over 1%.

Among metals stocks, Tata Steel tanked nearly 3% while Jindal Steel and Hindalco Industries lost close to 2%.

In the second line shares, Suven Lifesciences surged 14% and Jain Irrigation jumped 5%. Opto Circuits and S Kumars rallied 7% IFCI tumbled 16.5%.

Nifty below 5400; SBI, IFCI, United Spirits most active

The BSE Sensex and NSE Nifty fell 0.5% each, weighed down by Reliance Industries, ICICI Bank and Infosys. Larsen & Toubro and State Bank of India too added pressure on the market. However, the upmove in ITC, HUL, HDFC, ONGC, Tata Motors and Bharti Airtel has limited the downside.

The BSE benchmark went down 84 points to 17,766.13 and the NSE benchmark slipped 30 points to 5,385.45. The broader markets extended fall to 0.7%.

Reliance Industries, India's most valued stock tanked 1.7%. Top private sector lender ICICI Bank tumbled 2% while its rival State Bank of India was down 1%.

Country's second largest IT services exporter Infosys and engineering & construction major Larsen & Toubro were down over 1%.

Metals stocks extended losses during the press conference held by the coal ministry to discuss coal block allocation issue. Tata Steel plunged 3%. Hindalco Industries was down 2% and Jindal Steel fell 1.5%. But Coal India remained on buyers' radar with 1% gains as the company is going to consider buy back option in a meeting scheduled for September 18.

State-owned power equipment manufacturer BHEL and power producer NTPC dropped over 1.5%.

FMCG majors ITC and Hindustan Unilever were up 0.8% and 1.2%, respectively. Shares of HDFC, ONGC, Tata Motors, Bharti Airtel, Wipro and Cipla were marginally higher.

Most active shares on exchanges were IFCI, Madras Cements, United Spirits, SBI, Opto Circuits, Reliance Industries and ICICI Bank.

In the second line shares, Jyothy Labs rallied 10.5%. Opto Circuits, Ipca Labs, HT Media and Jain Irrigation gained 3-6% whereas IFCI plunged 14%. Bajaj Finserv, Glodyne Tech, Tulip Telecom and Gillette India lost 5-6%.

Sensex remains under pressure; ITC, HUL, HDFC outperform

Equity benchmarks were trading lower due to fall in global markets. European markets were flat in early trade after falling around 1% yesterday; they seemed to have priced in the news of uncertainty over Greece's future in the Eurozone and easing hopes of Fed stimulus. Asian markets remained down with 1% losses in late trade.

The 30-share BSE Sensex was down 69 points to 17,781.42 and the 50-share NSE Nifty declined 27 points to 5,388.10.

Reliance Infrastructure topped the selling list among Nifty 50, with a fall of 3%. Jaiprakash Associates, Tata Steel, Axis Bank and DLF were down 2-2.5%.

Country's largest lenders State Bank of India and ICICI Bank lost over 1%. Index heavyweight Reliance Industries extended losses to 1.5%.

Engineering and construction major Larsen & Toubro fell 1.3% and state-owned power equipment manufacturer BHEL was down 0.7%.

Top commercial vehicle maker Tata Motors slipped 0.77% and utility vehicle major M&M dropped nearly 2% after the management lowered tractor sales forecast to 2% from 10% for FY13.

Fast moving consumer goods' majors ITC and Hindustan Unilever were 0.8% and 1.5%, respectively.

Housing finance company HDFC and country's largest coal producer Coal India gained 1% each.

In the second line shares, Jyothy Labs surged 12%. Ipca Labs, HT Media, Opto Circuits and Aurobindo Pharma were up 4-6% whereas IFCI plunged 14% after the Cabinet has approved conversion of IFCI debentures held by government to equity. Bajaj Finserv, Glodyne Tech, Tulip Telecom and Gillette India lost 4-6%.

Decliners outnumbered advancers by 1521 to 932 on the Bombay Stock Exchange.

Volatile Nifty down; M&M skids 2% on lower sales forecast

The NSE Nifty continued to trade below the 5400 level due to downward journey in Reliance Industries and ICICI Bank. Infosys, Larsen & Toubro and State Bank of India too were under pressure, but the buying in FMCG and HDFC group stocks has limited the downside.

The 30-share BSE benchmark was down 52.40 points to 17,797.82 and the 50-share NSE benchmark declined 22 points to 5,393.50. The broader markets too were down.

Country's largest utility vehicle maker Mahindra & Mahindra lost 2% after the company has reduced its forecast for tractor sales growth to 2% from 10% for financial year 2012-13. This may be due to weak monsoon.

Top commercial vehicle manufacturer Tata Motors and two-wheeler maker Bajaj Auto were down 0.5%.

Index heavyweight and private oil & gas producer Reliance Industries fell 1.25%. India's largest lenders State Bank of India and ICICI Bank dropped around 1%.

Software services exporter Infosys went down 0.8% while its rivals TCS and Wipro were flat.

Engineering and construction major Larsen & Toubro plummeted over 1%; state-owned power equipment producer BHEL was down 0.6%.

Among metals stocks, Tata Steel and Hindalco Industries fell nearly 2% whereas Sterlite Industries gained 0.9%.

Housing finance company HDFC and private sector lender HDFC Bank moved up 1.4% and 0.4%, respectively.

FMCG majors ITC and Hindustan Unilever rose 0.4-0.9%. Top coal producer Coal India remained higher with 1% gains as the company is going to consider buy back in its annual general meeting on September 18.

BSE Sensex falls; banks, Infosys hit

The BSE Sensex falls 0.43%, while the 50-share Nifty declines 0.57%. Falls track weaker Asian shares, which retreated from a two-week high as investors scaled back expectations for strong stimulus from the US Federal Reserve.

Banks among the leading decliners after the RBI again indicated reluctance to cut interest rates despite slowing growth in its annual 2011-12 report.

ICICI Bank shares fall 1.4% while State Bank of India declines 1%.

Reliance Industries down 0.9%, continuing to be hit by concerns about lower refining margins.

Infosys retreats 1.1%, after gaining 7% over the previous four sessions, on rising hopes for the global economy.

An uproar in parliament over potential corruption in the sale of coal concessions to private companies is also raising fears of a delay in policy reforms.

Sensex falls 100 pts; Coal India gains 4% in four days

Indian shares remained under pressure due to fall in banks, metals, auto and infrastructure stocks. Asian markets too were down in the range of 0.7-1.3% following a decline in US markets as uncertainty increased over Greece's future and hopes eased for Federal Reserve stimulus.

The BSE benchmark went down 80 points to 17,770.35 and the NSE benchmark dropped 31 points to 5,384.60.

The country's largest coal producer Coal India gained 1% on Friday as DNA reported that the company has decided to buy back its equity shares. The stock gained nearly 4% in four consecutive sessions this week. The company will discuss the same in its upcoming 38th annual general meeting (AGM), which is scheduled for September 18."

Cigarette major ITC, private sector lender HDFC Bank, state-owned oil & gas producer ONGC and housing finance company HDFC gained 0.3-0.5%.

Software services exporters TCS and Wipro went up 0.4% each whereas their rival Infosys was down 0.9%.

Country's largest lenders State Bank of India and ICICI Bank fell 1% each. Commercial vehicle major Tata Motors and top car maker Maruti Suzuki declined 1% each too.

Utility vehicle major Mahindra & Mahindra extended losses to 2% after the management cut tractor sales growth to 2% from 10% for current financial year 2012-13.

Engineering and construction major Larsen & Toubro , telecom operator Bharti Airtel and oil & gas producer Reliance Industries slipped around 1%.

Metals stocks declined on easing of hopes for Fed stimulus. Tata Steel, Jindal Steel, Sterlite Industries and Hindalco Industries lost 0.6-2%.

The market breadth remained weak as about two shares declined for every share advancing on the National Stock Exchange.

Nifty trades below 5400 on weak global cues

The 50-share NSE Nifty opened below the 5400 level on Friday as global markets dropped on uncertainty over Greece's future with Europe continent and easing of hopes for Fed stimulus. But the Nifty was trying hard to get back above the same level.

The BSE benchmark declined 51.4 points to 17,798.84 and the NSE benchmark lost 23.10 points to 5,392.25.

Reliance Industries, Infosys, JP Associates, Reliance Infrastructure, Tata Motors, Sterlite, Tata Steel, Sesa Goa, SBI, Bank of Baroda, Axis Bank, L&T, Ambuja Cements and HDFC were under pressure.

M&M fell over 1.25% as the company lowered the forecast for tractor sales growth to 2% from 10% for FY13.

Bharti Airtel and ONGC were marginally higher.

Coal India gained 0.5% as DNA reported that the company plans to buy back its equity shares and seeks shareholders' nod for the same. The board meeting is scheduled for September 18.

The CNX Midcap Index was down 16 points to 7,233 as about two shares declined for every share rising on the National Stock Exchange.

In the second line shares, Aban Offshore, Unitech, Lanco Infratech, HDIL, IVRCL, NCC, SKS Microfinance and PFC were down 1-2%. SJVN tanked 5%.

IFCI was down 1% after the Cabinet has approved conversion of company's debentures held by government into equity.

S Kumars Nationwide bounced back with 1% gains. Opto Circuits too gained 3% as HSBC Global Investment Funds bought more than 12.6 lakh shares yesterday while JF India Fund sold 15.88 lakh shares. Both stocks were down 12% yesterday.

Shree Cement gained another 2% after stronger than expected numbers in the quarter ended June 2012.

Orchid Chemical and Glenmark Pharma were up 1%. Suven Life Sciences shot up 4%.

Network 18 rallied 3.6% as the group sold partial stake in bookmyshow.com for Rs 100 crore. (Moneycontrol.com is part of the Network18 Group)