Mid-Session: Dalal-Street under selling pressure; Bharti down 3% Analysis for Apr 30, 2015

Posted By: Religare
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The Indian benchmark indices witnessed hefty selling today ahead of the April derivatives expiry due to day, led by loses in the metal, IT and Teck stocks. The BSE Sensex hovered around the crucial 27k levels while Nifty slipped below 8200 mark as traders consolidated their positions in view of April series expiry in the derivatives segment. Major show spoilers included were Bharti Airtel, Coal India, Housing Development Finance Corporation, Mahindra & Mahindra and Bharat Heavy Electricals.

At 12:15 PM BSE SENSEX was at 27010.47 down by -215.46 points or by -0.79 % and then NSE Nifty was at 8186.35 down by -53.4 points or by -0.65 per cent. In line with the benchmark indices, the broader market also slipped in red with the BSE MIDCAP trading at 10399.56 down by 9.2 points or by 0.09 per cent, while the BSE SMLCAP was at 10946.06 down by 14.46 points or by 0.13 per cent.

In the bearish trade so far, the BSE Sensex touched intraday high of 27242.05 and intraday low of 26924.17, while the NSE Nifty touched intraday high of 8229.4 and intraday low of 8147.45.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 373.05,-3.73%), Housing Development Finance Corporation Ltd. (Rs. 1173.90,-2.32%), Bajaj Auto Ltd. (Rs. 1932.70,-2.30%), Dr. Reddy's Laboratories Ltd. (Rs. 3301.80,-2.23%), Tata Power Company Ltd. (Rs. 75.75,-2.07%), among others.

On the flip side, Axis Bank Ltd. (Rs. 576.60,+4.29%), Sesa Sterlite Ltd. (Rs. 209.50,+1.13%), Cipla Ltd. (Rs. 635.05,+0.91%), Reliance Industries Ltd. (Rs. 858.00,+0.79%), Maruti Suzuki India Ltd. (Rs. 3780.10,+0.26%), were among top gainers on BSE.

Among the thirteen sectoral indices, metal index was top loser and was trading at 9830.7 down by 129.35 points or by 1.3 per cent. Jindal Steel & Power Ltd. (Rs. 140.90,-3.23%), Steel Authority of India (SAIL) Ltd. (Rs. 71.80,-2.64%), Coal India Ltd. (Rs. 363.95,-1.97%), JSW Steel Ltd. (Rs. 942.00,-1.64%), NMDC Ltd. (Rs. 126.15,-1.33%), were among top losers.

Following the metal index, BSE Oil&BSETECk index was at 5786.43 down by 56.35 points or by 0.96 per cent. Bharti Airtel Ltd. (Rs. 373.05,-3.73%), Idea Cellular Ltd. (Rs. 176.75,-2.75%), HCL Technologies Ltd. (Rs. 874.85,-1.43%), Zee Entertainment Enterprises Ltd. (Rs. 317.30,-1.00%), Finolex Cables Ltd. (Rs. 269.50,-0.97%), were among others dragging the market.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 2310, shares advanced were 1102 while 1114 shares declined and 94 were unchanged.

Story first published: Thursday, April 30, 2015, 12:36 [IST]
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