Mid-Market: Sensex stays under pressure ahead of June F&O expiry Analysis for Jun 26, 2014

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Triggered by hefty selling in oil and gas stocks led by Reliance Industries, Oil And Natural Gas Corporation, Oil India and HPCL, the domestic bourses stayed under pressure in the afternoon session of day"s trade. Even, the boarder market lost its ground in line with benchmark indices. Shares of oil and gas companies were down up to 7% after the government defers its decision on gas price hike by three months till December 31, 2014. Further, the market also witnessed volatility due to expiry of June month F&O later today.

At 12:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25182.14 down by 131.6 points or by 0.52 per cent and the NSE Nifty was at 7528.1 down by 41.15 points or by 0.54 per cent.

During the day"s trading so far, the BSE Sensex touched intraday high of 25309.33 and intraday low of 25129.06, while the NSE Nifty touched intraday high of 7570.2 and intraday low of 7514.65.

Even, the broader market slipped in red in line with benchmark indices. The BSE MIDCAP was at 9206.32 down by 2.34 points or by 0.03 per cent while the BSE SMLCAP was at 9997.68 down by 15.11 points or by 0.15 per cent.

The market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 2881, shares advanced were 1373 while 1398 shares declined and 110 were unchanged.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 413.75,-5.29%), Reliance Industries Ltd. (Rs. 1020.60,-2.87%), NTPC Ltd. (Rs. 154.00,-1.79%), GAIL (India) Ltd. (Rs. 460.15,-1.55%), Housing Development Finance Corporation Ltd. (Rs. 982.00,-1.31%), among others.

On the flip side, Larsen & Toubro Ltd. (Rs. 1674.00,+1.43%), Dr. Reddy's Laboratories Ltd. (Rs. 2514.55,+1.42%), Bharat Heavy Electricals Ltd. (Rs. 252.75,+1.14%), Wipro Ltd. (Rs. 533.65,+0.99%), Bharti Airtel Ltd. (Rs. 338.65,+0.68%), were among notable gainers on BSE.

Among the thirteen sectoral indices on BSE, oil&gas index was leading the fall and was trading lower at 11075.23 down by 350.46 points or by 3.07 per cent. Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Oil India Ltd. (Rs. 566.20,-3.81%), Hindustan Petroleum Corporation Ltd. (Rs. 400.50,-3.76%), Bharat Petroleum Corporation Ltd. (Rs. 561.50,-3.33%), Indian Oil Corporation Ltd. (Rs. 332.20,-2.85%), were among the notable losers on BSE.

Following the oil&gas index, BSE Realty index was at 2059.83 down by 36.92 points or by 1.76 per cent. D B Realty Ltd. (Rs. 104.85,-5.07%), Unitech Ltd. (Rs. 33.50,-3.46%), Indiabulls Real Estate Ltd. (Rs. 93.70,-2.14%), DLF Ltd. (Rs. 213.45,-1.70%), Housing Development & Infrastructure Ltd. (Rs. 92.90,-1.69%), were among the others dragging the market.

Story first published: Thursday, June 26, 2014, 12:48 [IST]
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