Indian equities turned negative in early trade on Thursday erasing earlier gains. At 10.03 a.m., the Sensex was trading down 22.66 points or 0.11% at 20,003.95 with 20 components falling. Meanwhile, the Nifty was trading lower by 13.30 points or 0.22% at 6,041.00 with 40 components falling.
The 30-share benchmark index, BSE Sensex opened flat with a decline of 9.41 points or 0.05% at 20,017.20, while the broad based NSE Nifty started with a fall of 8.10 points or 0.13%, at 6,046.20.Tata Motors tumbled 7% on Thursday after the automaker said its unit Jaguar Land Rover (JLR) was likely to report lower EBTIDA margin in the October-December quarter. Tata Motors said the lower margins would come due to foreign exchange fluctuations and a higher mix of Evoque sales, according to a statement.
Sensex Movers
Tata Motors contributed fall of 50.43
points in the Sensex. It was followed by Mahindra & Mahindra
(10.31 points), I C I C I Bank (9.04 points), Reliance Industries
(7.84 points) and State Bank Of India (4.22 points).
However, Oil & Natural Gas Corporation contributed rise of 29.68 points in the Sensex. It was followed by Infosys (20.2 points), I T C (14.94 points), Tata Consultancy Services (13.18 points) and H D F C Bank (5.84 points).
Biggest gainers in the 30-share index were Oil & Natural Gas Corporation (3.50%), Tata Consultancy Services (1.41%), Infosys (1.26%), Wipro (0.97%), Hindustan Unilever (0.85%), and I T C (0.80%).
On the other hand, Tata Motors (6.91%), G A I L (India) (2.73%), Mahindra & Mahindra (2.15%), Sterlite Industries (India) (1.91%), Hindalco Industries (1.61%), and Tata Power Company (1.23%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -1.12% and -0.71% respectively.The major losers in the BSE Midcap were Allahabad Bank(2.08%), Aban Offshore (1.16%), Allcargo Logistics (0.68%), A I A Engineering (0.22%) and Alstom India (0.22%).The major losers in the BSE Smallcap were A2Z Maintenance & Engineering Services (6.71%), Trident (3.79%), Action Construction Equipment (1.3%), Aanjaneya Lifecare (1.12%) and Aarti Industries (0.35%).
Sectors in Limelight
The Auto index was at 10,794.45, down by 319.04 points or by 2.87%. The major losers were Ashok Leyland (2.2%), Exide Industries (1.68%), Bharat Forge (1.49%), Hero Motocorp (1.21%) and Bajaj Auto (0.45%).
The Realty index was at 2,131.44, down by 51.23 points or by 2.35%. The major losers were Housing Development and Infrastructure (16.05%), Indiabulls Real Estate (4.16%), Anant Raj (3.1%), Oberoi Realty (1.4%) and D L F (0.7%).
The Metal index was at 10,542.12, down by 89.62 points or by 0.84%. The major losers were JSW Steel (1.73%), Hindalco Industries (1.61%), Hindustan Zinc (0.9%), Bhushan Steel (0.78%) and Jindal Steel & Power (0.27%).
On the other hand, the IT index was at 6,404.09, up by 71.57 points or by 1.13%. The major gainers were Tech Mahindra (2.01%), Tata Consultancy Services (1.41%), Infosys (1.26%), Mahindra Satyam (0.3%) and H C L Technologies (0.2%).
Market Breadth
Market breadth was negative with 575 advances against 1,219 declines.
Value and Volume Toppers
Housing Development and Infrastructure topped the value chart on the BSE with a turnover of Rs. 700.33 million. It was followed by Tata Motors (Rs. 452.16 million), Oil & Natural Gas Corporation (Rs. 159.20 million) and Ajanta Pharma (Rs. 139.29 million).
The volume chart was led by Housing Development and Infrastructure with trades of over 8.67 million shares. It was followed by Unitech (1.64 million), Tata Motors (1.56 million) and Acil Cotton Industries (1.18 million).
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