Nifty ends flat; NTPC, ONGC lead, RIL, SBI, TCS slip

Indian equity benchmarks closed flat on a first session of the week. The market showed smart recovery in the afternoon trade after seeing sell-off in the morning trade due to weak global cues.

PSU oil & gas, private financial, infrastructure and telecom companies' shares supported the market to get back above the 5450 level. However, the fall in heavyweights Reliance Industries, TCS, SBI, ITC and Wipro has kept the Nifty away from 5500 level.

The 30-share BSE Sensex fell 2.5 points, to close at 18,266 and the 50-share NSE Nifty lost just 3 points, to end at 5,483. Overall the market has been moving in a particular range of 5400-5600 since long time as it seemed that it could be waiting for some trigger like RBI policy, government decision on fuel price or global event.

Dipan Mehta, Member BSE and NSE feels that from the last RBI policy to this time around there are clear cut signals that there is a slowdown taking place. "We have seen slowdown taking place on automobile sales and cement dispatches. Also the fact that the industrial production has come off and industry now is talking in one voice that this is going perhaps a bit too far. At the same time we are seeing global growth also slowing down. So that could impact exports as well."

He believes maybe we could still be having a 0.25% increase in the repo rate. But, he said, "RBI would just perhaps come out & say that it could be a bit of a pause for the next 2-3 months and they would like to see the monsoon, the commodity prices and the inflation data before continuing with their rate hike increase or increases."

NTPC, Cipla and Jaiprakash Associates were the top gainers, with rising 2-3%. Heavyweights ONGC, Bharti Airtel, L&T, HDFC, HUL, HDFC Bank and ICICI Bank too were on buyers' radar, with moving up 0.4-1%.

However, big gun Reliance Industries was the main culprit, which has not helped the Nifty to touch 5500 level. Stock fell 2% after CAG report. CAG files draft audit report on development capex at D6, PMT & Rajasthan fields. CAG in its report said RIL grossly overstated development costs at D6.

Among others, SBI and TCS too were down 1% each. Metal stocks also witnessed selling pressure today. ITC, Wipro, Tata Motors and DLF added some more pressure on the market.

Indian equity benchmarks closed flat on a first session of the week. The market showed smart recovery in the afternoon trade after seeing sell-off in the morning trade due to weak global cues.

PSU oil & gas, private financial, infrastructure and telecom companies' shares supported the market to get back above the 5450 level. However, the fall in heavyweights Reliance Industries, TCS, SBI, ITC and Wipro has kept the Nifty away from 5500 level.

The 30-share BSE Sensex fell 2.5 points, to close at 18,266 and the 50-share NSE Nifty lost just 3 points, to end at 5,483. Overall the market has been moving in a particular range of 5400-5600 since long time as it seemed that it could be waiting for some trigger like RBI policy, government decision on fuel price or global event.

Dipan Mehta, Member BSE and NSE feels that from the last RBI policy to this time around there are clear cut signals that there is a slowdown taking place. "We have seen slowdown taking place on automobile sales and cement dispatches. Also the fact that the industrial production has come off and industry now is talking in one voice that this is going perhaps a bit too far. At the same time we are seeing global growth also slowing down. So that could impact exports as well."

He believes maybe we could still be having a 0.25% increase in the repo rate. But, he said, "RBI would just perhaps come out & say that it could be a bit of a pause for the next 2-3 months and they would like to see the monsoon, the commodity prices and the inflation data before continuing with their rate hike increase or increases."

NTPC, Cipla and Jaiprakash Associates were the top gainers, with rising 2-3%. Heavyweights ONGC, Bharti Airtel, L&T, HDFC, HUL, HDFC Bank and ICICI Bank too were on buyers' radar, with moving up 0.4-1%.

However, big gun Reliance Industries was the main culprit, which has not helped the Nifty to touch 5500 level. Stock fell 2% after CAG report. CAG files draft audit report on development capex at D6, PMT & Rajasthan fields. CAG in its report said RIL grossly overstated development costs at D6.

Among others, SBI and TCS too were down 1% each. Metal stocks also witnessed selling pressure today. ITC, Wipro, Tata Motors and DLF added some more pressure on the market.

Midcaps

A2Z Maintenance was locked at 20% upper circuit. Novartis India, BASF, Punj Lloyd (bags Rs 678 crore order) and Max India (allots 2.4 crore shares (10% equity) to Goldman Sachs at Rs 216.75 on conversion of debentures) gained 8-12%.

However, KGN Industries, Glodyne Tech, Bhushan Steel, Vardhman Textiles and Emami rallied 3-5%.

Smallcaps

Advanta and Welspun Project too were locked at 20% upper circuit. Hyderabad Industries, Elantas Beck and Arshiya Intl jumped 9-15% whereas ESS DEE, Tilaknagar Inds, SV Electricals, Graviss Hosp and Modern India lost 4-7%.

Market breadth was almost mixed; about 1476 shares advanced as against 1395 shares declined on Bombay Stock Exchange.

A2Z Maintenance was locked at 20% upper circuit. Novartis India, BASF, Punj Lloyd (bags Rs 678 crore order) and Max India (allots 2.4 crore shares (10% equity) to Goldman Sachs at Rs 216.75 on conversion of debentures) gained 8-12%.

However, KGN Industries, Glodyne Tech, Bhushan Steel, Vardhman Textiles and Emami rallied 3-5%.

Smallcaps

Advanta and Welspun Project too were locked at 20% upper circuit. Hyderabad Industries, Elantas Beck and Arshiya Intl jumped 9-15% whereas ESS DEE, Tilaknagar Inds, SV Electricals, Graviss Hosp and Modern India lost 4-7%.

Market breadth was almost mixed; about 1476 shares advanced as against 1395 shares declined on Bombay Stock Exchange.

Sensex quiet; SBI, Titan, Lovable Lingerie most active

Equity benchmarks were hovering around their previous closing values after sharp recovery from day's low. PSU oil & gas, power, capital goods, telecom and private financial companies' shares were leading the markets.

The Nity was trying to move towards the 5500 level but the sell-off in heavyweights Reliance Industries, TCS, SBI, Wipro and ITC has limited the upside. Metal and cement stocks too were on sellers' radar.

The 30-share BSE Sensex was trading at 18,277, up 9 points and the 50-share NSE Nifty was unchanged at 5486. Market breadth too was mixed - about 623 shares advanced as against 641 shares declined on National Stock Exchange.

NTPC was the leading star today, with rising 2.5%. ONGC, Bharti Airtel, L&T, HDFC, Infosys, HDFC Bank, ICICI Bank, HUL, Cipla and Reliance Communications too were quite supporitve.

Lovable Lingerie, SBI, Titan Industries, Delta Corp, Aanjaneya Life, Tata Steel, Infosys and Reliance Industries were the most active shares on exchanges.

Midcaps

A2Z Maintenance shot up 18%. Novartis India, Punj Lloyd, Max India and BASF gained 8-9%. Max India has allotted 2.4 crore shares (10% equity) to Goldman Sachs at Rs 216.75 a share on conversion of debentures

However, Glodyne Tech, Himadri Chemical, Bhushan Steel, KGN Industries and Gujarat Flourochem fell 3-4%.

Smallcaps

Advanta, Welspun Project, Hyderabad Industries, Parekh Aluminex and Foseco India rallied 9-17% while Tilaknagar Inds, Modern India, SV Electricals, Vaarad Ventures and Graviss Hosp lost 5-6%.

Sensex trades flat; NTPC, Cipla, Rel Comm top gainers

The Indian benchmark indices were trading flat with positive bias in the afternoon trade. Some buying was seen in capital goods, power and pharma stocks. However, metal, oil & gas and realty stocks were trading weak.

Heavyweights like Reliance Industries, TCS, SBI, Tata Motors and Tata Steel were negative contributors to the Sensex.

At 13.14 hrs IST, the Sensex was up 29.91 points or 0.16% at 18298.45, and the Nifty was up 5.15 points or 0.09% at 5490.95.

About 1295 shares advanced, 1354 shares declined, and 1001 shares remained unchanged.

Top gainers on the Sensex were NTPC at Rs 180.50 up 2.50%, Cipla at Rs 340.10 up 2.41%, Reliance Comm at Rs 93.95 up 1.57%, ONGC at Rs 270.15 up 1.22% and Hero Honda at Rs 1,742 up 1.05%.

Top losers on the Sensex were Reliance at Rs 928.25 down 1.67%, Hindalco at Rs 182.10 down 1.27%, TCS at Rs 1,179 down 0.81%, Maruti Suzuki at Rs 1,220 down 0.79% and Tata Motors at Rs 1,012.05 down 0.76%.

Refinery major HPCL was trading at Rs 370.50 up 1.24% from its previous close of Rs 365.95.

Emerging market like India has been one of the most favoured investment destinations for the foreign institutional investors (FIIs).

Arjuna Mahendran, Head-Asia at HSBC Private Bank (Suisse) SA, said that once the US market starts marking healthy recovery, FII flows will start returning to the emerging markets.

''Weakness in the US market will ebb by mid-summer, and hence emerging markets like India will witness fund flows coming back to them. Moreover, the Indian monsoons have started on time and we hope that the food prices stabilise. We expect Nifty to touch 6100 in a year if inflation comes down,'' said Mahendran.

Nifty recoups losses; PSU oil & gas, private banks lead

Equity benchmarks recouped its early trade losses, supported by heavyweights ONGC, NTPC, Bharti Airtel, HUL, ICICI Bank, L&T and HDFC Bank at 12:08 hours. The Nifty turned back above the 5450 level amid choppy trade.

But the sell-off in Reliance Industries, SBI, Wipro, TCS and BHEL has limited the recovery. Metal, cement and realty companies' shares too were down.

The 30-share BSE Sensex was trading at 18,246, down 22 points and the 50-share NSE Nifty fell 9 points to 5,476.

Arjuna Mahendran, Head-Asia at HSBC Private Bank (Suisse) SA, said that once the US market starts marking healthy recovery, FII flows will start returning to the emerging markets.

''Weakness in the US market will ebb by mid-summer, and hence emerging markets like India will witness fund flows coming back to them. Moreover, the Indian monsoons have started on time and we hope that the food prices stabilise. We expect Nifty to touch 6100 in a year,'' said Mahendran.

Among frontliners, NTPC, ONGC, Bharti Airtel, HUL and Cipla gained 1-2%. ICICI Bank, L&T and HDFC Bank were marginally in the green.

However, Reliance Industries continued to fell 2% and SBI was down 1%. TCS, ITC, BHEL and Wipro were trading with moderate loss.

Lovable Lingerie, SBI, VIP Industries, Titan Industries, NESCO, Infosys, Reliance Industries and Tata Steel were the most active shares on exchanges.

Midcaps

Novartis India, A2Z Maintenance, EIH, Tata Global Beverage and GlaxoSmith Consumer gained 3-10% while KGN Industries, Indian Metals, Gujarat Flourochem, Glodyne Tech and Himadri Chemical lost 3-5%.

Smallcaps

Advanta, Parekh Aluminex, ABG Infralogistics, Simplex Project and Bombay Burmah rallied 7-11% whereas Asian Hotel (E), Tilaknagar Inds, SV Electricals, Vaarad Ventures and Parrys Sugar lost 5-6%.

Nifty hovers around 5450; RIL, SBI, TCS slip

Indian equity benchmarks were trading lower on the back of consistent fall in Asian markets. Technology, capital goods, metal, realty, financial, cement and select healthcare companies' shares were taking beating at 10:48 hours.

Heavyweight Reliance Industries was the main culprit behind today's sell-off, with falling over 2% and dragging the Nifty below 5450 level.

Anu Jain, vice president of IIFL Private Wealth Management said the market would continue to trade in a narrow zone. "Though the key benchmark indices did show signs of giving up in the past week, however, volumes continued to remain dry. The Nifty is still range-bound between 5,450 and 5,600 levels. Hence, the next two-three weeks could be volatile period with a breakout coming closer to as per time series in first week of July," she said.

According to Jain, as long as the 50-share index trades above 5,350 levels, the market is on safe grounds.

The 50-share NSE Nifty was trading at 5,445, down 41 points and the 30-share BSE Sensex fell 125 points to 18,143. The broader indices too were following the same trend.

Among Asian markets, Shanghai and Taiwan were down over 1%. Hang Seng, Straits Times, Kospi and Taiwan declined over 0.5%.

Largecaps

Hindalco, Reliance Industries, Tata Power, DLF, Tata Steel, Ambuja Cements and SAIL were top losers, with falling 1-2.5%.

However, Cipla, Reliance Communications and BPCL gained 1% each. HUL, ONGC and Bajaj Auto were up over 0.5%.
HUL Rs 313.40 0.63%

Lovable Lingerie, SBI, NESCO, Reliance Industries, Titan Industries, Infosys and Tata Steel were the most active shares on exchanges.

Midcaps

Fresenius Kabi, Coromandel International, Novartis India, EIH and Shree Global gained 2.5-5% while KGN Industries, Indian Metals, Gujarat Flourochem, Trent and Bhushan lost 3-5%.

Nifty slips on weak global cues; oil & gas down

Indian equity benchmarks started the first day of the week on a negative note, tracking weak global cues. Oil & gas, capital goods, financial, realty and technology companies' shares were on sellers' radar.

Nandan Chakraborty of ENAM said, "Growth concerns in the US weighed on global markets and the dollar. We expect the RBI to raise interest rates by 25 bps in its policy review on June 16 and a further 25 bps in subsequent policy before pausing."

Reliance Industries lost nearly 2%.

Infosys, Hindalco, SAIL, Maruti Suzuki, Ambuja Cements, Sesa Goa, HUL, ONGC, Jaiprakash Associates, Reliance Infrastructure, Axis Bank and SBI were putting pressure on the market.

However, Bharti Airtel, ITC, GAIL, NTPC and Bajaj Auto were witnessing buying interest.

At 9:18 hours IST, the 50-share NSE Nifty was trading at 5,452, down 33 points and the 30-share BSE Sensex fell 104 points to 18,163.

Midcap & Smallcap space

HCC lost nearly 3% as MoEF asked Maharashtra Govt to initiate action against Lavasa under Environment Act.

IVRCL Infra and GVK Power were down over 0.5%.

Ashok Leyland, Essar and Lanco Infra went down over 0.5%.

Adani Power slipped 2.5%.

Axis IT&T plunged 4% and Jubilant Foodworks lost 1.8%. Aurobindo Pharma was down over 1%.

However, TVS Motor gained 1.5% on DEPB extension.

PVR jumped 8% and Pantaloon Retail gained 1.5%.

Reliance Industrial Infrastructure rose 3%.

Global cues:

Asian markets were trading lower. Shanghai and Taiwan lost over 1%. Hang Seng, Nikkei, Straits Times and Kospi fell 0.2-0.8%.