 "Volatile markets trade at lows of the day")
Markets continued to trade on a volatile fashion with selling pressure noticeable in consumer durables, healthcare and oil shares. The Sensex after touching a high of 20,309 slipped into red once again. The index was now down 79 points at 20,168. Nifty was down 19 points at 6,151.
Broader markets under performed in late-noon deals. BSE mid-cap index slipped 13 points to a low of 6,579. Small-cap index shed 13 points at 6,178.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1070.33 crore on Thursday.
Analyst at Bank of America Merrill Lynch expect the RBI to cut policy rates 25bp on June 17 and have preponed another 25bp rate cut to July 30 from October.
Power and IT indices also traded in the green. However, the consumer durables index shed 1.2% at 7,505. Healthcare, metal and oil & gas indices slipped 0.8% each.
IT stocks rose on a weak rupee. Infosys added 0.7% at 2349. TCS was up 0.5%.
NTPC added 1.6% at Rs 159. ICICI Bank, Bajaj Auto and Cipla added around 1% each.Shareholders of Cipla Medpro South Africa have approved Cipla's cash offer to acquire 100% of Cipla Medpro through itself or through its nominated subsidiary.
Meanwhile, Bharti Airtel shed 2.5% at Rs 314. Sterlite dropped 2% at Rs 96. Market heavyweight, Reliance slipped 1.5% at Rs 827. Hindalco, Maruti Suzuki and GAIL shed 1-2% each.
Bank stocks fell on profit booking after recent gains triggered by expectations that the RBI may further cut policy rates. HDFC bank and SBI were down 0.5% each.
Shares of cement manufacturer are trading firm in an otherwise subdued market after the Competition Appellate Tribunal (COMPAT) directed 11 cement producers to pay 10% of a Rs 6,307 crore penalty imposed on them by the Competition Commission of India (CCI) in June last year.
Broader markets under performed in late-noon deals. BSE mid-cap index slipped 13 points to a low of 6,579. Small-cap index shed 13 points at 6,178.
Foreign institutional investors (FIIs) bought shares worth a net Rs 1070.33 crore on Thursday.
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From the sectoral indices, BSE realty index gained 1% at 2,010 on expectations that the RBI may further cut policy rates to perk up economic growth after the latest data showed a sharp fall in wholesale price inflation in April 2013.
Analyst at Bank of America Merrill Lynch expect the RBI to cut policy rates 25bp on June 17 and have preponed another 25bp rate cut to July 30 from October.
Power and IT indices also traded in the green. However, the consumer durables index shed 1.2% at 7,505. Healthcare, metal and oil & gas indices slipped 0.8% each.
IT stocks rose on a weak rupee. Infosys added 0.7% at 2349. TCS was up 0.5%.
NTPC added 1.6% at Rs 159. ICICI Bank, Bajaj Auto and Cipla added around 1% each.Shareholders of Cipla Medpro South Africa have approved Cipla's cash offer to acquire 100% of Cipla Medpro through itself or through its nominated subsidiary.
Meanwhile, Bharti Airtel shed 2.5% at Rs 314. Sterlite dropped 2% at Rs 96. Market heavyweight, Reliance slipped 1.5% at Rs 827. Hindalco, Maruti Suzuki and GAIL shed 1-2% each.
Bank stocks fell on profit booking after recent gains triggered by expectations that the RBI may further cut policy rates. HDFC bank and SBI were down 0.5% each.
Shares of cement manufacturer are trading firm in an otherwise subdued market after the Competition Appellate Tribunal (COMPAT) directed 11 cement producers to pay 10% of a Rs 6,307 crore penalty imposed on them by the Competition Commission of India (CCI) in June last year.