 "Markets end lower dragged by Sun Pharma shares")
Markets extended losses for the third straight day led by a sell-off in Sun Pharma shares while selling by foreign funds also weighed on market sentiment.
The 30-share Sensex ended down 62 points at 26,996 and the 50-share Nifty ended down 8 points at 8,086.
The government will release the CPI data for August 2014 and the industrial production data for the month of July tomorrow.
Meanwhile, Foreign portfolio investors sold shares worth Rs 9.91 crore in the cash segment and equity futures worth Rs 1,587 crore on Wednesday, as per the provisional exchange data.
The rupee was trading higher at 60.77 compared with Wednesday's close of 60.94.
Asian markets ended mixed with Nikkei and Straits ending higher. Japan's Nikkei share average rose to an eight-month high on Thursday after the weak yen lifted sentiment and a meeting between the central bank governor and prime minister raised expectations of additional easing in the long-term. The Nikkei climbed 0.8% to end at 15,909.20, the highest closing level since Jan 10. The broader Topix hit a six-year high, rising 0.3% to 1,311.24. Singapore's Straits Times ended up 0.3% while Shanghai Composite and Hang Seng ended down 0.2-0.3% each.
The BSE Healthcare index was the top sectoral loser down 1.8% followed Metal and Oil & Gas indices. BSE Bankex, Auto, Capital Goods and FMCG indices ended up 0.3-6% each.
Sun Pharmaceuticals was the top Sensex loser which ended over 4% down on reports that the company’s manufacturing facility in Halol (Gujarat) is undergoing a surprise inspection by the US Food and Drug Administration (US FDA). Cipla and Dr Reddy's Labs ended down 0.7-0.9% each.
The Union Cabinet on Wednesday cleared a dilution of the government's stake in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC Ltd. At current market valuations, the amount of its holdings the Centre wants to offload in these companies could fetch it as much as Rs 45,796 crore - more than the Budget target of raising Rs 39,925 crore through disinvestment in public-sector undertakings. Coal India and ONGC ended 3.5% lower. NHPC ended down 4.9%.
Other Sensex losers include, Wipro, HDFC Bank, TCS, Tata Motors, ICICI Bank and M&M among others.
Hero MotoCorp recovered on buying at lower levels to end 1.5% higher.
Capital goods shares were up ahead of July IIP data. L&T and BHEL ended up 0.6-1.6% higher.
Other gainers include, SBI, Infosys, HDFC, Reliance Ind and HUL among others.
Among other shares, Bharat Electronics has surged 3% to Rs 2,112 after Motilal Oswal initiated 'buy' rating on the stock and a target of Rs 2,600.
Shares of fertilisers companies ended higher on talk that the centre in planning to bring out a new fertiliser policy for the country. GSFC, GNFC, Chambal Fertilisers, RCF, FACT, National Fertilizers, SPIC and Zuari Agro Chemicals ended up 4-20%.
IDFC ended 3.5% higher after the company plans to raise Rs 2,000 crore from share sale to institutional investors. The floor price has been fixed at Rs 143.70 a share.
Shares of small-sized companies surged hitting nearly four-year high today rising over 100% from its 52-week low.
Among the stocks in this index, Gati, Ceat, Avanti Feeds, Ahluwalia Contracts, LG Balakrishnan and Brothers, Marksans Pharma, Global Offshore Services, Sona Koyo Steering Systems, Kitex Garments and CCL International have rallied more than 500% during this period.
Market breadth was strong with 2,017 gainers and 1,052 losers on the BSE.
The 30-share Sensex ended down 62 points at 26,996 and the 50-share Nifty ended down 8 points at 8,086.
The government will release the CPI data for August 2014 and the industrial production data for the month of July tomorrow.
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However, the broader markets outperformed the benchmark indices. The BSE Midcap and Smallcap indices ended up 1-1.4% each.
Meanwhile, Foreign portfolio investors sold shares worth Rs 9.91 crore in the cash segment and equity futures worth Rs 1,587 crore on Wednesday, as per the provisional exchange data.
The rupee was trading higher at 60.77 compared with Wednesday's close of 60.94.
Asian markets ended mixed with Nikkei and Straits ending higher. Japan's Nikkei share average rose to an eight-month high on Thursday after the weak yen lifted sentiment and a meeting between the central bank governor and prime minister raised expectations of additional easing in the long-term. The Nikkei climbed 0.8% to end at 15,909.20, the highest closing level since Jan 10. The broader Topix hit a six-year high, rising 0.3% to 1,311.24. Singapore's Straits Times ended up 0.3% while Shanghai Composite and Hang Seng ended down 0.2-0.3% each.
The BSE Healthcare index was the top sectoral loser down 1.8% followed Metal and Oil & Gas indices. BSE Bankex, Auto, Capital Goods and FMCG indices ended up 0.3-6% each.
Sun Pharmaceuticals was the top Sensex loser which ended over 4% down on reports that the company’s manufacturing facility in Halol (Gujarat) is undergoing a surprise inspection by the US Food and Drug Administration (US FDA). Cipla and Dr Reddy's Labs ended down 0.7-0.9% each.
The Union Cabinet on Wednesday cleared a dilution of the government's stake in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC Ltd. At current market valuations, the amount of its holdings the Centre wants to offload in these companies could fetch it as much as Rs 45,796 crore - more than the Budget target of raising Rs 39,925 crore through disinvestment in public-sector undertakings. Coal India and ONGC ended 3.5% lower. NHPC ended down 4.9%.
Other Sensex losers include, Wipro, HDFC Bank, TCS, Tata Motors, ICICI Bank and M&M among others.
Hero MotoCorp recovered on buying at lower levels to end 1.5% higher.
Capital goods shares were up ahead of July IIP data. L&T and BHEL ended up 0.6-1.6% higher.
Other gainers include, SBI, Infosys, HDFC, Reliance Ind and HUL among others.
Among other shares, Bharat Electronics has surged 3% to Rs 2,112 after Motilal Oswal initiated 'buy' rating on the stock and a target of Rs 2,600.
Shares of fertilisers companies ended higher on talk that the centre in planning to bring out a new fertiliser policy for the country. GSFC, GNFC, Chambal Fertilisers, RCF, FACT, National Fertilizers, SPIC and Zuari Agro Chemicals ended up 4-20%.
IDFC ended 3.5% higher after the company plans to raise Rs 2,000 crore from share sale to institutional investors. The floor price has been fixed at Rs 143.70 a share.
Shares of small-sized companies surged hitting nearly four-year high today rising over 100% from its 52-week low.
Among the stocks in this index, Gati, Ceat, Avanti Feeds, Ahluwalia Contracts, LG Balakrishnan and Brothers, Marksans Pharma, Global Offshore Services, Sona Koyo Steering Systems, Kitex Garments and CCL International have rallied more than 500% during this period.
Market breadth was strong with 2,017 gainers and 1,052 losers on the BSE.