Mid-Market: Sensex, Nifty continue to reel under pressure Analysis for May 26, 2015

Posted By: Religare
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Domestic benchmark indices continued to trade in negative terrain during the noon trading session in absence of any positive triggers which could have taken the markets higher.

The 30-share benchmark index was trading down by 77 points, led by losses in ONGC, Sun Pharma, NTPC, ITC and Hindalco among others. Meanwhile, the 50-share Nifty was trading down by 17 points.

Besides, profit-booking and lower-than-expected Q4 earnings by some companies too weighed on the domestic sentiment. Traders remained cautious ahead of the expiry of May derivatives contracts due on Thursday and GDP data scheduled on Friday.

On the global front, Asian stocks were trading mixed as jitters over US monetary tightening may continue to weigh on investor mood as another official from the Fed on Monday stressed that improving employment growth and quickening inflation are building the case for a rate hike.

At 12:27PM BSE SENSEX was at 27565.91, down by 77.97 points or by 0.28 per cent, while the NSE Nifty was at 8352.5, down by 17.75 points or by 0.21 per cent.

The BSE MIDCAP was at 10596.37, down by -14.74 points or by 0.14 per cent, while the BSE SMLCAP was at 11177.83, down by 5.55 points or by 0.05 per cent.

The BSE Sensex touched an intraday high of 27675.94 and an intraday low of 27543.24, while the NSE Nifty touched an intraday high of 8378.9 and an intraday low of 8337.5.The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 392.70,+1.67%), Hero MotoCorp Ltd. (Rs. 2627.20,+1.56%), Mahindra & Mahindra Ltd. (Rs. 1268.00,+0.86%), Maruti Suzuki India Ltd. (Rs. 3721.25,+0.81%), Vedanta Ltd. (Rs. 201.35,+0.67%), among others.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 324.25,-1.53%), Sun Pharmaceutical Industries Ltd. (Rs. 987.90,-1.41%), Hindalco Industries Ltd. (Rs. 133.50,-1.26%), NTPC Ltd. (Rs. 132.80,-1.19%), Tata Motors Ltd. (Rs. 499.70,-1.09%), among others.Among the sectors, In BSE, BSETECk index was at 6101.29 up by 3.71 points or by 0.06%. Bharti Infratel Ltd. (Rs. 469.20,+3.75%), Tata Communications Ltd. (Rs. 447.90,+1.60%), Sun TV Network Ltd. (Rs. 367.10,+0.92%), CMC Ltd. (Rs. 2027.20,+0.64%), Idea Cellular Ltd. (Rs. 168.30,+0.60%),.

On the flip side, In BSE, BSE_HCS index was at 16871.05 down by -108.49 points or by -0.64%. Arvind Remedies Ltd. (Rs. 13.85,-3.82%), Sharon Bio-Medicine Ltd. (Rs. 17.35,-2.53%), Apollo Hospitals Enterprise Ltd. (Rs. 1248.70,-2.22%), Sun Pharma Advanced Research Company Ltd. (Rs. 411.85,-2.02%), Suven Life Sciences Ltd. (Rs. 293.95,-1.97%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2387 shares traded, 1075 shares advanced, 1219 shares declined while 93 remained unchanged.

Story first published: Tuesday, May 26, 2015, 13:00 [IST]
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