Sensex volatile; rupee near all-time closing low

The BSE Sensex and NSE Nifty were completely lacklustre in trade after shedding all gains. Endless concerns in Eurozone and rupee near all-time low kept investors away from risky assets. Even the market breadth turned neutral.

The BSE Bankex too shed all gains, which was up 1.77% at one point of time today. Top private sector lender ICICI Bank tanked 1.4% and its rival State Bank of India was down just 0.17% whereas HDFC Bank gained 0.8%.

The NSE benchmark fell 1.5 points to 4,856.75 while the BSE benchmark rose nearly 6 points to 16,035.84. The Indian rupee was trading at 54.54 to the dollar.

Shares of Larsen & Toubro, largest engineering and construction firm by sales in India crashed 4%, topping the selling list. State-owned BHEL was down 1.4%.

Top telecom operator Bharti Airtel shaved off its all gains as the company cut 3G mobile data prices.

Among other largecaps, M&M, ONGC, Cipla, Bajaj Auto, Tata Power and Hindalco were down 1.4-2.75%.

However, index heavyweight Reliance Industries was quite supportive since early trade, rising 1%. Even cigarette major ITC stayed 2.7% higher.

Housing finance company HDFC too maintained its morning gains, moving up 2%.

In the second line shares, Pantaloon Retail, Voltas, Birla Corp, Blue Star and Kalpataru Power rallied 4-7% whereas Everonn Education, Fairfield Atlas, Gokaldas Export, Essar Shipping and Orbit Corporation tanked 8-13%.

At 14:11 hours IST: Nifty, Sensex turn flat; L&T, ONGC, ICICI, TCS drag

The BSE Sensex and NSE Nifty erased all gains following further fall in European markets. Technology, capital goods and healthcare stocks added more pressure on the market. The fall in index majors ONGC and ICICI Bank too weighed.

The BSE benchmark was down just 10.53 points to 16,019.56 and the NSE benchmark slipped 3.5 points to 4,854.75. The broader markets also shed gains.

France's CAC, Germany's DAX and Britain's DAX fell 0.6% each and euro was at four-month low against US dollar due to endless concerns over Greece and fears of contagion to other countries in Eurozone.

Country's largest engineering and construction company by sales Larsen & Toubro crashed 3.6% while state-owned BHEL dropped 1%.

TCS, India's largest software services exporter tanked nearly 2% while its rivals Infosys and Wipro were down 0.5-1%.

Top private sector lender ICICI Bank was down 0.77% whereas rivals State Bank of India and HDFC Bank gained 0.4% and 0.85%, respectively. Housing finance company HDFC was up 1.7%.

Top utility vehicle maker Mahindra & Mahindra tumbled 3% and second largest two wheeler major in India Bajaj Auto was down 1.4%.

Drug makers Cipla and Sun Pharma were down 3% and 1%, respectively. State-owned oil & gas producer ONGC tanked 1.7% while Reliance Industries rose 0.9%.

However, cigarette major ITC stayed quite strong, rising 2.7% on valued based buying.

At 12:49 hours IST: Sensex, Nifty off day's high on weak European markets

The BSE Sensex and NSE Nifty shed somewhat gains in afternoon trade due to fall in L&T, ICICI Bank, ONGC and technology stocks. Weak opening of European markets too added somewhat pressure on the market. However, consistent buying interest in FMCG, metals, select financials and index heavyweight Reliance Industries helped the market.
 
The BSE benchmark rose 0.48% or 76.69 points to 16,106.78 and the NSE benchmark went up 22.65 points or 0.47% to 4,880.90. The broader markets too came off day's high - the BSE Midcap and Smallcap indices were up 0.5% each.

France's CAC, Germany's DAX and Britain's FTSE were moderately lower in early trade as Greece newsflow continued to drive risk aversion. Yesterday agencies reported that ECB suspended operations with some Greek banks. ECB said Greek banks moved to Emergency Liquidity Assistance and normal operations would resume once these banks got capitalized. Greece will hold new election on June 17 after failure of making several attempts to form coalition government.

Back home, shares of country's largest engineering and construction company Larsen & Toubro extended fall, losing 2%. TCS, India's top software services exporter and even its rival Wipro fell over 1%.

Drug maker Cipla topped the selling list, falling over 3%. Among others, M&M, Sun Pharma, Bajaj Auto, GAIL and ONGC were down 0.5-1.5%.

Top private sector lender ICICI Bank too turned lower, trading marginally down whereas its rival State Bank of India was up just 0.5%. HDFC Bank and HDFC gained 1.34% each.

However, cigarette major ITC stayed sharply higher, rising 2.6%. Index heavyweight and oil & gas producer Reliance Industries retained its 1% upmove.

At 11:46 hours IST: Short covering holds Sensex gains; Bajaj Auto, L&T down 1%

The BSE Sensex continued to hold about 150 points gains led by short covering. Meanwhile the NSE Nifty remained above the 4900 level quite nicely led by support from stocks like Reliance Industries and ITC. SBI, Bharti Airtel and HDFC Bank too were quite supportive.

The BSE benchmark moved up 150 points or 0.94% to 16180 and the NSE benchmark rose 45.45 points or 0.94% to 4,903.7.

Shares of ITC and Bank of Baroda topped the buying list, rising 3.7% and 3.4%, respectively. Ambuja Cements, DLF and SAIL were up 2.5-3%.

Among banking and financial stocks, HDFC Bank, HDFC and State Bank of India rallied 1-2% while ICICI Bank was up just 0.3%.

Oil & gas producer Reliance Industries and top telecom operator Bharti Airtel climbed 1.3% each.

However, India's largest enginnering and construction company by sales Larsen & Toubro dropped over 1%. Bajaj Auto, country's second largest two-wheeler maker fell 1.3% ahead of quarterly numbers today.

Software services provider TCS and drug maker Cipla were down 0.5% each.

The broader markets too gained nearly 1%. The market breadth stayed in favour of advances; about three shares gained for every share falling on the National Stock Exchange.

In the second line shares, AstraZeneca shot up 14%. Dish TV India, Hexaware Tech, Fresenius Kabi and VST rallied 5-8% whereas Blue Star, Pantaloon Retail, Tulip Telecom, Kalpataru Power and Infotech Enterprises fell 3-4%.

Asian markets extended gains; Shanghai Composite rose 1.4% and Taiwan Weighted gained 1.7%. Hang Seng and Nikkei went up 0.7% each while Kospi and Straits Times were up 0.6% each.

At 10:29 hours IST: Nifty stays above 4900 with 1% gain; ITC, DLF top buy list

The BSE Sensex and NSE Nifty stayed 1% higher in morning trade led by short covering in most beaten down stocks. Banks, metals, auto and FMCG stocks saw buying interest today. Index heavyweight Reliance Industries gained 1%.

The BSE benchmark rose 178.78 points or 1.12% to 16,208.87, supported by 27 components. Meanwhile, the NSE benchmark moved up 53.8 points or 1.11% to 4,912.05.

Amit Gupta, head- derivatives of ICICI Direct said, "For intraday traders, 4,950 is going to be critical immediately. A close above that possibly may give you an indication that finally we are going to hit 5,050,'' he adds.

FMCG majors ITC and HUL gained nearly 3% and over 1%, respectively. Realty major DLF rallied 3%.

Country's largest lenders State Bank of India, ICICI Bank and HDFC Bank were up 1.5-2%. Housing finance company HDFC rose 1.6%.

Top telecom operator Bharti Airtel moved up over 1% and state-owned capital goods major BHEL went up 1.5%.

However, shares of BPCL slipped 1.4% on profit booking. HCL Tech, ACC, Grasim, Dr Reddy's Labs, TCS, L&T and Infosys were marginally lower.

Asian markets too gained on Thursday after taking a beating yesterday, but the situation has not changed in Europe and the problems in Greece still persist. Yesterday agencies reported that European Central Bank has suspended operations with some Greek banks. The central bank said Greek banks were moved to Emergency Liquidity Assistance, so normal operations would resume once these banks got capitalized.

At 9:15 hours IST: Sensex, Nifty up nearly 1%; Asian mkts gain too

The BSE Sensex and NSE Nifty saw nice pull back on Thursday morning, rising nearly 1% following upmove in Asian markets. Somewhat short covering was seen as the market had fallen in previous seven out of nine sessions due to Greece political crisis and depreciation in rupee.

The BSE benchmark rose 123.03 points or 0.77% to 16,153.12 led by 26 stocks. Meanwhile, the NSE benchmark crossed the 4900 level, which was up 39.55 points or 0.81% at 4,897.80.

The Indian rupee too recovered some losses, rising 0.28% to 54.34 a dollar.

Asian markets like Shanghai, Hang Seng, Kospi, Taiwan and Straits Times moved up 0.4-1.3%. Nikkei was flat after recovery from day's low. However, Greece newsflow continued to drive risk aversion. Agencies reported yesterday that ECB suspended operations with some Greek banks; the central bank said normal operations will resume once these banks capitalized.

Back home, frontliners like ITC, HDFC, DLF, Bharti Airtel, Bank of Baroda, SBI, Axis Bank, SAIL, Hindalco, JSPL, L&T, Reliance Industries, ICICI Bank, PNB, Ranbaxy and HUL gained 1-2%.

However, Tata Motors dropped another 1% due to disappointing global sales data for April. The stock had fallen 7.4% yesterday.

The CNX Midcap Index went up 67 points or 0.93% to 6,966. About three shares advanced for every share falling on the National Stock Exchange.

In the second line shares, Dish TV was up 2.6% after fourth quarter numbers.

Deccan Chronicle and Adani Port rallied 3-4%.

Educomp Solutions gained 3% as SEBI disposed case against company on Rs 1 lakh consent fee.

Delta Corp, Kingfisher, VIP Industries, IRB Infrastructure, Manappuram Finance and Harrisons Malyalam were up 1-2%.

Hexaware, KPIT Cummins Mahindra Satyam (ahead of Q4 numbers) and JP Power (ahead of Q4 numbers) went up 1-2%.

However, 3i Infotech was down 2%.