Post-Session: Sensex ends flat ahead of May F&O expiry Analysis for May 27, 2015

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The Indian benchmarks ended on a flat note as investors turned cautious ahead of May F&O expiry due on Thursday. Disappointing earnings from Tata Motors and Tech Mahindra were a major drag on the markets. However, buying demand among financials and oil shares limited the losses to a great extent. Meanwhile, the sentiment was dampened further by concerns surrounding US interest rate hike after the US reported better-than-expected economic data. Tata Motors was the top Sensex loser, down around 5 per cent after the company reported lower-than-expected consolidated net profit at Rs 1,717 crore for the fourth quarter ended March 31, 2015 (Q4) on account of lower-than-expected operating performance at Jaguar Land Rover (JLR) and mark-to-market (MTM) loss provisioning at JLR (on commodity hedges and revaluation of foreign currency debt). The BSE SENSEX closed at 27564.66, up by 33.25 points or by 0.12 per cent and then NSE Nifty closed at 8334.6, down by 4.75 points or by 0.06 per cent.

The BSE MIDCAP closed at 10616.47, up by 6.51 points or by 0.06 per cent while the BSE SMLCAP closed at 11162.41, down by 3.24 points or by 0.03 per cent.

The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 249.05,+3.34 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 331.25,+2.70 per cent), Axis Bank Ltd. (Rs. 577.85,+2.26 per cent), Coal India Ltd. (Rs. 382.85,+2.11 per cent), Bharti Airtel Ltd. (Rs. 408.50,+1.91 per cent), among others.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 471.65,-5.12 per cent), Mahindra & Mahindra Ltd. (Rs. 1225.10,-2.80 per cent), Infosys Ltd. (Rs. 1969.05,-2.00 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 974.65,-1.97 per cent), GAIL (India) Ltd. (Rs. 381.15,-1.84 per cent), among others.

The top gainers of the NSE Nifty pack were Bharat Heavy Electricals Ltd. (Rs. 249.85,+3.48 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 332.00,+2.95 per cent), Axis Bank Ltd. (Rs. 577.80,+2.40 per cent), Idea Cellular Ltd. (Rs. 170.05,+2.35 per cent), NMDC Ltd. (Rs. 132.45,+2.28 per cent), among others.

The top losers of the NSE Nifty pack were Mahindra & Mahindra Ltd. (Rs. 549.10,-14.24 per cent), Tata Motors Ltd. (Rs. 471.75,-5.19 per cent), Mahindra & Mahindra Ltd. (Rs. 1222.80,-3.19 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 975.55,-1.94 per cent), Infosys Ltd. (Rs. 1968.50,-1.93 per cent), among others.

Among the thirteen sectoral indices, PSU index was leading the rise and closed at 7747.46 up by 115.2 points or by 1.51 per cent led by IDBI Bank Ltd. (Rs. 70.65,+5.84 per cent), UCO Bank (Rs. 61.45,+4.51 per cent), Indian Bank (Rs. 165.00,+4.30 per cent), Syndicate Bank (Rs. 112.30,+3.79 per cent), Union Bank of India (Rs. 169.05,+3.71 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2714, shares advanced were 1170 while 1427 shares declined and 117 were unchanged.

Story first published: Wednesday, May 27, 2015, 17:00 [IST]
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