Mid-Session: Sensex, Nifty bleed in red ahead of Q4 results; TCS down 1% Analysis for Apr 16, 2015

Posted By: Religare
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The domestic bourses witnessed bearish trade today as investors turned cautious ahead of the March quarter earnings season to begin today with country"s largest software exporter TCS scheduled to release its fourth quarter earnings later in the day. Shares of IT bellwether were down over 1 per cent, followed by rival Wipro and Infosys over 2 per cent. Analysts have braced for weak quarterly earnings season.

At 12:25 PM BSE SENSEX was at 28610.42 down by 189.27 points or by 0.66 per cent and then NSE Nifty was at 8694.4 down by 55.8 points or by 0.64 per cent.

In line with the benchmark indices, the broader market were also bleeding in red with the BSE MIDCAP trading at 10973.47 down by 97.29 points or by 0.88 per cent, while the BSE SMLCAP was at 11792.22 down by 109.17 points or by 0.92 per cent.

In the bearish trade so far, the BSE Sensex touched intraday high of 28876.23 and intraday low of 28605.66, while the NSE Nifty touched intraday high of 8760 and intraday low of 8684.15.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 201.35,-2.82%), Wipro Ltd. (Rs. 593.50,-2.16%), Dr. Reddy's Laboratories Ltd. (Rs. 3680.00,-1.96%), Infosys Ltd. (Rs. 2170.10,-1.95%), Cipla Ltd. (Rs. 682.60,-1.59%), among others.

On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 324.55,+2.32%), Hindalco Industries Ltd. (Rs. 136.65,+0.81%), Tata Motors Ltd. (Rs. 544.35,+0.75%), Bharti Airtel Ltd. (Rs. 417.70,+0.75%), GAIL (India) Ltd. (Rs. 396.45,+0.70%), were among top gainers on BSE.

Among the thirteen sectoral indices, realty index was top loser and was trading at 1729.41 down by 29.51 points or by 1.68 per cent. Housing Development & Infrastructure Ltd. (Rs. 129.35,-4.19%), Indiabulls Real Estate Ltd. (Rs. 66.95,-3.95%), Anant Raj Ltd. (Rs. 42.80,-3.39%), Sobha Ltd. (Rs. 428.00,-2.46%), DLF Ltd. (Rs. 150.55,-2.05%), were among top laggards. Following the realty index, BSE_IT index was at 11323.56 down by 178.39 points or by 1.55 per cent. Wipro Ltd. (Rs. 593.50,-2.16%), Infosys Ltd. (Rs. 2170.10,-1.95%), CMC Ltd. (Rs. 1972.70,-1.45%), Mahindra & Mahindra Ltd. (Rs. 650.50,-1.29%), Tata Consultancy Services Ltd. (Rs. 2590.95,-1.29%), were among others dragging the market.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2613, shares advanced were 924 while 1595 shares declined and 94 were unchanged.

Story first published: Thursday, April 16, 2015, 12:48 [IST]
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