Sensex trades lackluster; Reliance, Bharti drag
19th February 2013 01:18 PM
Indian markets continue to tradeslightly loweramid volatility. Metal, capital goods and oil & gas stocks witnessed profit booking while healthcare and IT stocks gained.
At 12.18., the Sensex was trading down 23.87 points or 0.12% at 19,477.21 with 16 components falling. Meanwhile, the Nifty was trading lower by 6.70 points or 0.11% at 5,891.50 with 26 components falling.
Telecom stocks declinedon concern over re-entry of Reliance Industries (RIL) may increase competition after reports suggest Mukesh Ambani led company received approval to offer voice services along with its 4G broadband services license by paying Rs 16.5 billion more.
Shares of India's largest telecom company Bharti Airtel fell 2.02%. Idea Cellular and Reliance Communication declined 1.32% and 1.25% respectively on the BSE.(11.51 a.m)
Reliance Industries contributed fall of 23.19 points in the Sensex. It was followed by Bharti Airtel (10.8 points), I C I C I Bank (7.75 points), Larsen & Toubro (5.68 points) and I T C (5.2 points).
However, Oil & Natural Gas Corporation contributed rise of 14.42 points in the Sensex. It was followed by Infosys (12.57 points), Hindustan Unilever (5.36 points), Tata Consultancy Services (3.49 points) and NTPC (3 points).
Biggest gainers in the 30-share index were Oil & Natural Gas Corporation (1.78%), Cipla (1.58%), NTPC (1.03%), Hindustan Unilever (0.91%), Infosys (0.79%), and Bharat Heavy Electricals (0.67%).
On the other hand, Bharti Airtel (2.18%), G A I L (India) (1.90%), Jindal Steel & Power (1.40%), Reliance Industries (1.31%), Coal India (1.30%), and Tata Steel (1.09%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.36% and 0.47% respectively. The major gainers in the BSE Midcap were Allcargo Logistics (1.25%), Allahabad Bank (1.2%), A B G Shipyard (0.83%), Aban Offshore (0.31%) and Amara Raja Batteries (0.05%).The major gainers in the BSE Smallcap were Action Construction Equipment (12.81%), Adhunik Metaliks (3.64%), Styrolution ABS (India) (1.6%), Reliance MediaWorks (0.15%) and Advanta India (0.04%).
Sectors in Limelight
The IT index was at 6,483.26, up by 37.56 points or by 0.58%. The major gainers were Mphasis (2.62%), Tech Mahindra (1.03%), Mahindra Satyam (0.88%), Infosys (0.79%) and H C L Technologies (0.36%).
The Realty index was at 2,088.16, up by 9.26 points or by 0.45%. The major gainers were Prestige Estates Projects (1.08%), D L F (0.94%), Phoenix Mills (0.83%), Oberoi Realty (0.36%) and Parsvnath Developers (0.35%).
The HC index was at 7,933.96, up by 33.24 points or by 0.42%. The major gainers were Cipla (1.52%), Cadila Healthcare (1.09%), Biocon (0.98%), Aurobindo Pharma (0.63%) and Apollo Hospitals Enterprise (0.19%).
On the other hand, the Metal index was at 9,894.88, down by 57.8 points or by 0.58%. The major losers were Jindal Steel & Power (1.36%), Coal India (1.31%), Hindalco Industries (0.63%), Hindustan Zinc (0.2%) and Bhushan Steel (0.04%).
Market breadth was negative with 1,281 advances against 1,190 declines.
Value and Volume Toppers
Jet Airways (India) topped the value chart on the BSE with a turnover of Rs. 355.62 million. It was followed by United Breweries (Rs. 225.35 million), State Bank Of India (Rs. 210.43 million) and United Spirits (Rs. 198.72 million).
The volume chart was led by Suzlon Energy with trades of over 3.49 million shares. It was followed by I F C I (1.54 million), Opto Circuits (India) (1.39 million) and Birla Power Solutions (1.30 million).
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