There was a recovery attempt when the markets opened but it lost steam before the European markets opened. Then there was a second attempt at recovery when European markets opened but that too lst steam to profit booking.
NSE Nifty closed at 4,751.30 with registering a fall of 20.85 points or 0.44%. Where as, BSE Sensex closed with a fall of 72.45 points or 0.46% at 15,792.
On the sectoral front, Bankex reported massive losses as it fell 2.52%. This second worst performing index was Consumer Durable as it fell 0.62%.
The only indices that were closed positive were HealthCare, Realty, FMCG and Information Technology as they all went up by 0.80%, 0.55%, 0.52% and 0.01%.
Among the 50 stocks that make the Nifty 24 stocks advanced and 26 stocks declined.
Also JP Associates, DLF, Sunpharma, Tata Power gained between 2-4.5%. Where as SBI, Hindalco,BHEL and JindalSteel went down between 3-4.5%.
Sensex gains 0.01%. Markets back in the positve side
After the stock markets plunged suddenly now into the negative zone, now the stock market is regaining and has reached in the positive terrirory.
The NIfty was at 4,772.70 level with gains of 0.55 points or 0.01%. Meanwhile, BSE reached 15,877.43 with gains of 12.57 points and a raise of 0.08%.
On the sectoral front also there were changes, Consumer Durables turned positive and only two sectors were in the negative Oil&Gas and Bankex. Also the highest gainers reduced the levels of there gains. Realty index was the best performing with 0.97%, FMCG with 0.93%.
Consistent buying was observed at the counters of ITC , HDFC and L&T, which gained between 1.3% and 1.7%, capping the downside. Infosys, TCS and ONGC too are up 0.4-0.7%.
Tata Motors, DLF, Sterlite, Sun Pharma, Dr Reddy's Labs and Reliance Communications rallied 1.5-2.5%.
On the global front, European markets such as France's CAC, Germany's DAX and Britain's FTSE inched up 1.3-1.8%.
Sensex up by 96 points. Markets remain rangebound
Benchmark indices continue to be rangebound. BSE Sensex was trading at 15,960 with gains of 96 points, reflecting a gain of 0.60; meanwhile, NSE Nifty was trading at 4,797 points with gains of 24.80 points or 0.52%.
Among the sectoral indices, Realty was trading at 1.22% followed by FMCG at 1.14%. Information Technology and Metal were up by 1.11% and 1.07% respectively.
The sectoral indices which were under losses were Consumer Durables, Bankex and Oil&Gas, they were down by 1.33%, 0.35% and 0.24% respectively.
Among the 50 stocks that make up the Nifty, 34 stocks advanced and 16 declined. SBI and ICICI bank fell the most. Meanwhile, JP Associates and HDFC led the gainers.
Jindal Steel Power, Sterlite Industries and Tata Steel surged 2% each.
Among other largecaps, DLF, Sun Pharma and Dr Reddy's Labs moved up 2% each.
However, Reliance Industries and BHEL were down over 0.5%.
Stock markets rise following US Markets. Nifty up 0.30%
The Indian stock markets gained in the opening session following the rally in the US markets. After Ben Bernanke said the Federal reserve will take measures to support the economy and expressed same support from the Congress and the White House. The sensex has so far shed 833 points during the previous three sessions.
The 30-share BSE Sensex was trading at 15,934, up 68.83 points. At the same time, the 50-share benchmark that represents NSE Nifty was up by 14.30 points or 0.30% to 15,933.
Among the sectoral indices, only Consumer Durables and Bankex was in the negative on the BSE by 0.65% and 1.38% respectively.
With ICICI Bank and SBI cornering 42% weightage in the bankex index, were the main reason for the the Bankex to slip so much. SBI has been on a negative downtrend after Moody's downgraded the standalone company. ICICI Bank too has been on a downward trajectory for investors fear of the stock to European market.
The best performing sectoral index was Information Technology as it gained 1.37%. This was followed by realty with 1.09% and TECk with 1.03%.
Among frontline stocks, JP Associates, Tata Motors, HDFC, and Sterlite gained over 2%.
The losers were led by SBI and ICICI bank with loss of 2.63% each. They were followed GAIL, PNB and Axisbank.