Nifty drifts lower; Unitech, DLF, RCom down

MUMBAI: Indian equities continued to witness selling pressure in line with other global markets. Realty, metal and auto stocks were the worst hit while FMCG bucked the trend.

At 1pm, National Stock Exchange’s Nifty was at 4766.50, down 59.65 points or 1.24 per cent. The index touched a low of 4738.40 and high of 4826.10.

Bombay Stock Exchange’s Sensex was at 16,079.92, down 203.57 points or 1.25 per cent. The 30 share index hit a low of 15993.83 and high of 16191.39.

BSE Midcap Index was down 1.75 per cent and BSE Smallcap Index slipped 1.49 per cent.

Amongst the sectoral indices, BSE Realty Index was down 4.51 per cent, BSE Metal Index fell 2.62 per cent and BSE Auto Index declined 2.28 per cent.

Unitech (-4.95%), DLF (-4.58%), Reliance Communications (-4.07%), Tata Motors (-3.93%) and Reliance Capital (-3.45%) were amongst the Nifty losers.

Ranbaxy Laboratories (3.26%), HCL Technologies (3.13%), BPCL (2.40%), Sun Pharma (2.27%) and Ambuja Cement (1.82%) were the major gainers.

Market breadth was negative on the BSE with 1863 declines and 675 advances.

Market gaining strength; Nifty heads towards 4900

MUMBAI: After five days of consolidation, the market gained momentum particularly with the action in the midcap and smallcap space. Realty and metals led the upmove.

“The Nifty is consolidating between 4780 to 4850 range and the trend is likely to continue in coming days in the absence of market movement. Nifty is range bound and unless it breaks range with heavy volumes and on closing basis, no clear direction can be found. Only the range breakout may give direction to the market on either side. So, one should be cautious before buying or selling. Technically, if Nifty crosses 4900 levels then only it can move up further else one should be cautious and lighten the positions,” said Anand Rathi Securities in a note.

At 11:15 am, Bombay Stock Exchange’s Sensex was trading at 16,371.52, higher by 0.97 per cent or 157.33 points from the previous close. The index touched a high of 16,372.42 and low of 16,255.42 in trade so far. National Stock Exchange’s Nifty was trading at 4867.05, up 1.22 per cent or 58.45 points.

The broader market witnessed good amount of buying activity. The BSE Midcap Index climbed 1.3 per cent and BSE Smallcap Index rose 1.5 per cent.

Biggest index gainers were DLF (3.88%),Sterlite Industries (3.14%), Jaiprakash Associates (3.01%), Tata Motors (1.99%) and Hero Honda (1.93%).

Bharti Airtel (-0.43%), Hindustan Unilever (-0.33%) and Infosys Technologies (-0.25%) were the only losers.

Market breadth on BSE was extremely strong with 1662 advances against 572 declines.

Nifty touches nine-month high, above 4500

MUMBAI: Indian markets soared soon after the opening bell Monday, with a key index rising over 244 points within the first 15 minutes of trading.


The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, opened at 14,746.51 points, above Friday's close of 14,625.25. Within 15 minutes, it had risen to 14,870.01 points, 244.76 points or 1.67% above the last close.

At the same time, the S&P CNX Nifty index of the National Stock Exchange (NSE) stood at 4,535.65 points, 1.95% above its last close at 4,448.95. At this level the Nifty was at its nine month high.

Broader market indices were doing a tad better, with the BSE midcap index rising 2.64% from its previous close, while the BSE smallcap index was up 2.7%.

http://timesofindia.indiatimes.com/Nifty-at-nine-month-high-above-4500/articleshow/4602501.cms