The markets ended today's session on positive note. The Sensex advanced 72 points to provisionally close at 18,780 and the 50-share Nifty advanced 29 points to close provisionally at 5,705 levels.
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(Updated at 2.40 PM)
Markets have erased the morning gains in the late noon deals on the back of weakness visible in the European markets. The Sensex is up 96 points 18,805 and the 50-share Nifty has advanced 29 points to 5,705. Earlier in the day markets were trading on a firm note and the Sensex touched the intra-day high of 18,885.
The European markets gave up early gains and turned negative on Tuesday as persistent concerns over a slowdown in global growth and its impact on corporate earnings weighed on investor sentiment. CAC, DAX and FTSE 100 were down 0.2-0.5% each.
The Asian markets ended on a mixed note as concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak US corporate earnings. The Shanghai Composite advanced 2% to close at 2,115 and Hang Seng advanced 0.5% to close at 20,937. While, Nikkei, Seoul Composite and Taiwan Weighted closed on a weak note, down 0.3-1% each.
Back home, uncertainty over the political scenario has surfaced once again now Bahujan Samaj Party (BSP) leader Mayawati saying that she would decide tomeorrow whether to support the incumbent UPA government or not. She has also said that her party may support government's decision to allow 51% foreign direct investment (FDI) in multi brand retail only if it proves to be beneficial for farmers.
Meanwhile, Sun Pharma is the top gainer among the Sensex stocks, up 2.2% at Rs 724. Larsen & Toubro, Sterlite Industries, Tata Power, Cipla, ICICI Bank, ITC and Tata Steel are also trading higher by 1-1.8% each.
On the other hand, Bharti Airtel is the top Sensex loser, down 1.6% at Rs 265 after the empowered group of ministers (EGoM) imposed a one-time fee on incumbent operators prospectively for spectrum beyond 4.4 Mhz in GSM and 2.5 Mhz in CDMA. The cut of deadline will be the date when the cabinet clears the proposal.
BHEL, Hindalco, Gail India, Bajaj Auto, NTPC, Tata Motors, HDFC, ONGC and RIL are also among the losers.
On the sectoral front, BSE healthcare index is the top sectoral gainer, up 1.3% or 96 points at 7,612. Consumer durables, FMCG, capital goods, bankex, IT and metal indices are also up 0.2-1% each. At the same time, oil & gas, auto, power, PSU and teck indices are among the losers, down 0.1-0.4% each.
Among the individual stocks, Shakti Pumps has surged 8% to Rs 57.20 extending its previous day’s 6% rally after the company said it will allot 1.2 million shares M.L. Securities and Finance, the person other than promoters, at Rs 88 per share (adjusted to bonus shares) on conversion of warrants.
Ranbaxy Laboratories is trading higher by 2% at Rs 539 after the pharmaceutical company said said its wholly owned subsidiary has launched the authorized generic cevimeline hydrochloride capsules in United States under an agreement with Daiichi Sankyo, Inc.
Emkay Global Financial Services has continued its southward journey and locked in lower circuit of 10% at Rs 25.25 for a third consecutive day on the National Stock Exchange (NSE).
The broader markets are in-line with the benchmark indices. The BSE mid-cap and small-cap indices are up 0.2% each.
The overall breadth is marginally positive as 1,488 stocks are advancing while 1,305 are declining.
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