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Mid-session: Markets stays in negative terrain; Bharti down 3% Analysis for Apr 15, 2015

By Religare
|

Tracking weak cues from Asian peers, the Indian benchmark indices continued to trade in the negative territory in the noon session on Wednesday. Among the thirteen sectoral indices, IT, TECk, realty, metal, auto and health care were trading in the red, while banks, FMCG, consumer durables and capital goods were trading in green. On the corporate front, shares of index heavyweights such as Bharti Airtel, M&M, Tata Motors, Coal India and Infosys were seller"s radar while SSLT, Tata Power, SBI, ITC and GAIL were among notable buyers.

 

Weighed down by losses in auto and oil & gas stocks, the domestic bourses pared most of early gains in the afternoon session of day"s trade, with index heavyweights such as GAIL, Hindalco, M&M and Tata Motors leading the decline. The market witnessed a bout of volatility after starting the day on positive note after reporting better-than-expected industrial production data for February, released after trading hours on Friday, 10 April 2015.

At 12:30 PM BSE SENSEX was at 28967.48 down by 76.96 points or by 0.26 per cent and then NSE Nifty was at 8812.4 down by 21.6 points or by 0.24 per cent.

Outperforming the benchmark indices, the broader market were holding its ground with the BSE MIDCAP trading at 11170.2 up by 42.78 points or by 0.38 per cent, while the BSE SMLCAP was at 12010.46 up by 68.43 points or by 0.57 per cent.

In the choppy trade so far, the BSE Sensex touched intraday high of 29094.61 and intraday low of 28918.74, while the NSE Nifty touched intraday high of 8844.8 and intraday low of 8795.05.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 412.10,-2.91%), Mahindra & Mahindra Ltd. (Rs. 1219.35,-2.47%), Tata Motors Ltd. (Rs. 544.00,-2.14%), Infosys Ltd. (Rs. 2204.00,-1.56%), Coal India Ltd. (Rs. 386.25,-1.54%), among others.

On the flip side, Sesa Sterlite Ltd. (Rs. 207.15,+3.29%), State Bank of India (Rs. 290.40,+1.73%), Tata Power Company Ltd. (Rs. 81.25,+1.69%), GAIL (India) Ltd. (Rs. 400.00,+1.32%), ITC Ltd. (Rs. 354.40,+1.27%),, were among top gainers on BSE.

Among the thirteen sectoral indices, Teck index was top loser and was trading at 6382.43 down by 74.61 points or by 1.16 per cent. Bharti Airtel Ltd. (Rs. 412.25,-2.87%), Just Dial Ltd. (Rs. 1265.00,-2.72%), Idea Cellular Ltd. (Rs. 198.20,-2.03%), HCL Technologies Ltd. (Rs. 959.75,-1.73%), Infosys Ltd. (Rs. 2204.00,-1.56%) were among top laggards.

 

Following the Teck index, BSE_IT index was at 11547.35 down by 124.95 points or by 1.07 per cent. HCL Technologies Ltd. (Rs. 959.75,-1.73%), Infosys Ltd. (Rs. 2204.00,-1.56%), MindTree Ltd. (Rs. 1461.35,-1.50%), Wipro Ltd. (Rs. 616.75,-1.07%), CMC Ltd. (Rs. 2003.00,-0.97%), were among others dragging the market.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2721, shares advanced were 1472 while 1131 shares declined and 119 were unchanged.

Story first published: Wednesday, April 15, 2015, 12:48 [IST]
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