Indian equities dropped on Tuesday erasing earlier gains. At 10.07 a.m., the Sensex was trading down 15.38 points or 0.08% at 19,485.70 with 18 components falling. Meanwhile, the Nifty was trading lower by 7.85 points or 0.13% at 5,890.35 with 26 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 22.62 points or 0.12% at 19,523.70, while the broad based NSE Nifty began flat with a gain of 2.00 points or 0.03%, at 5,900.20.To accommodate further lending to debt-laden Kingfisher Airlines, its group holding firm United Breweries (Holdings) said it is hiking its loan limit for the ailing carrier from Rs 3 to Rs 7.5 billion. UB Holdings has sought approval from its shareholders to revise the lending limit for Kingfisher and to authorise its board of directors to take necessary actions in this regard, the company said in a regulatory filing.
Sensex Movers
Reliance Industries contributed fall of
11.18 points in the Sensex. It was followed by Bharti Airtel (9.78
points), I T C (3.58 points), H D F C Bank (2.9 points) and State
Bank Of India (2.61 points).
However, Hindustan Unilever contributed rise of 4.68 points in the Sensex. It was followed by Infosys (4.21 points), Oil & Natural Gas Corporation (2.43 points), Tata Consultancy Services (2.13 points) and Mahindra & Mahindra (1.94 points).
Biggest gainers in the 30-share index were Cipla (1.84%), Hindustan Unilever (0.80%), NTPC (0.60%), Bharat Heavy Electricals (0.53%), Mahindra & Mahindra (0.40%), and Sun Pharmaceutical Industries (0.37%).
On the other hand, Bharti Airtel (1.98%), G A I L (India) (1.42%), Coal India (0.90%), Reliance Industries (0.63%), Tata Steel (0.60%), and Jindal Steel & Power (0.50%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.44% and 0.46% respectively. The major gainers in the BSE Midcap were Amtek India (1.53%), Allcargo Logistics (1.25%), Allahabad Bank (1.14%), A B G Shipyard (1.11%) and Amara Raja Batteries (0.93%).The major gainers in the BSE Smallcap were Action Construction Equipment (5.34%), Adhunik Metaliks (2.24%), Advanta India (1.4%), Aegis Logistics (1.18%) and Reliance MediaWorks (0.3%).
Sectors in Limelight
The HC index was at 7,958.68, up by 57.96 points or by 0.73%. The major gainers were Cipla (1.84%), Aurobindo Pharma (1.13%), Biocon (0.34%), Cadila Healthcare (0.06%) and Apollo Hospitals Enterprise (0.04%).
The IPO index was at 1,762.84, up by 10.34 points or by 0.59%. The major gainers were L&T Finance Holdings (2.19%), Acropetal Technologies (2.12%), MT Educare (0.66%), Lovable Lingerie (0.43%) and Bharti Infratel (0.29%).
The Auto index was at 10,876.81, up by 27.55 points or by 0.25%. The major gainers were Exide Industries (1.51%), Bosch (1.32%), Bharat Forge (0.76%), Mahindra & Mahindra (0.4%) and Cummins India (0.08%).
On the other hand, the Metal index was at 9,906.27, down by 46.41 points or by 0.47%. The major losers were Coal India (0.9%), JSW Steel (0.5%), Jindal Steel & Power (0.5%), Hindalco Industries (0.5%) and Bhushan Steel (0.08%).
Market Breadth
Market breadth was positive with 1,025 advances against 751 declines.
Value and Volume Toppers
United Breweries topped the value chart on the BSE with a turnover of Rs. 169.75 million. It was followed by State Bank Of India (Rs. 119.18 million), Jet Airways (India) (Rs. 90.66 million) and Reliance Capital (Rs. 85.95 million).
The volume chart was led by Sybly Industries with trades of over 5.87 million shares. It was followed by Suzlon Energy (2.12 million), I F C I (1.13 million) and Opto Circuits (India) (1.09 million).
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