European stock markets were also trading with a negative bias as the FMOC was entering the last day of its meeting.
Oil & gas was the worst hit sectoral index with a loss of 1.16%. FMCG, auto, capital goods and select technology stocks were also under selling pressure. However, banking and telecom lend support.
The BSE Midcap and Smallcap indices went up by 0.73% and 0.71% respectively. About 807 shares advanced as against 620 shares declined on NSE.
Among the stocks, Everonn hit the upper circuit once again. GTL in its filing to the BSE annoucned that it will inform the exchange once the corporate debt restructure (CDR) is completed, as of now not all lenders have agreed to restructure.
Sensex falls 81.86 points. Under selling pressure on European market foot-steps
The stock market has been under selling pressure after mid-day as European market too was in the red. Nifty was reeling at 5,116.60 level, down by 23.60 or 0.46%. In the meantime, Sensex was down by 81.86 points or 0.48% at 17,017 level.
Among the sectoral indices, more sectors fell with Oil & Gas being the worst hit, it was down by 1.40%. Other sectoral indices that were under pressure were Auto (-0.75%), Information technology (-0.75%), Metal (-0.48%), TECk (-0.39%) and FMCG (-0.33%).
The best performing Sectoral index was Bankex that gained 0.58%; followed by BSE Realty (+0.40%).
Among the large cap stocks on the NSE, Ambuja Cement was the gained maximum with 1.71% followed by ICICI Bank 1.73% and JP Associate with 1.72%. However, the biggest loser was Hindalco as it fell by 3.17%. This was followed by Hero Motor Corp (-2.53%), Cairn (-2.42%) and Maruti (-2.31%).
About 750 shares advanced as against 620 shares declined on the BSE.
Midcaps like Stride Arcolab, Prism Cement, Bajaj Hindusthan, TV18 Broadcast and Arvind rallied 6-11% while India Infoline, A2Z Maintenance, Rajesh Exports, Allcargo and AstraZeneca fell 2-3%.
Stock market continues to be range-bound. Nifty gains 0.08%
The Indian stock market was moving around its previous close awaiting for global cue. It will take a clear direction once annoucnements are made after the FOMC meeting, meanwhile the market will also wait for cues from the European market as well.
The 50-stock index of the NSE, Nifty, reached 5,144.15 by gaining 3.95 or 0.08%. Meanwhile on the BSE, Sensex was up by 0.08% or 14.30 points to 17,113.
Among the sectoral indices of the BSE, Oil & gas, Auto and FMCG were the worst performers at -0.84%, -0.53% and -0.26%. However, it was Bankex which led the gains by 1.25%. And Capital Goods was 0.75%.
The most traded stock on the NSE was GVK Power & Infrastructure and the stock gained 1.73%. meanwhile SK Oils was the second most traded stock on the NSE as it fell more than 11%.
In the midcap space, Bajaj Hindusthan, Prestige Estate, Godfrey Phillip, Prism Cement and Stride Arcolab gained 5-8.5% while India Infoline, Infotech Enterprises, Tulip Telecom, A2Z Maintenance and ILandFS Transportation fell 2-3%.
Among the smallcap space, Marathon Nextgen hit the upper circuit at 20%. INOX Leisure, Lumax Inds, Nirlon and Mirc Electronic rallied 10-13%. However, Clarus Finance, Bhagwati Banquet, Prabhav Industries, R M Mohite and Mangalore Chemical lost 5-6%.
Sensex at 17,059. Markets to take clear direction after fed meeting
The stock market is expected to be range bound for the day, and should remain flat for most part. International markets, around the world are looking for the outcome of the crucial FOMC meet. The other factor that will influence the market would be European debt crisis.
The BSE benchmark index, Sensex is trading at 17,059 down by 39.88 points or 0.23%. Meanwhile, NSE benchmark Nifty is trading at 5135.75 down by 4.45 or 0.09%.
The highest gainers among the 50-stocks that form the Nifty are Wipro, ICICI Bank, Jindal Steel, and HCL Tech. They were up between 1-1.6%.
However, Reliance Industries fell 1.74% on profit booking or the news report of possible investigation by CBI has caught up with the stock now. The other stock that fell the most was Maruti, that slipped 1.73%, the breakdown of the talks between management and workers union is haunting the stock.
About 366 shares advanced as against 160 shares declined on NSE.
Education sector has been buzzing post Dubai based company bought 12% stake in Everonn. Everonn Education was locked at 5% upper circuit.
Kale Consultants shot up 7% as it has received order from South American Airline LAN yesterday during market hours. However, KS Oils tumbled 8% on accounting issues.