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Markets have closed in red on account of profit taking after eight trading session as concern over Greek debt crisis looms back.
Provisionally, the Sensex closed down by 75 points at 27,730 and the Nifty lost 42 points at 8,340 levels.
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(Updated 3:05 PM)
Markets pared gains and turned negative as investors booked profits after the rally in the past eight trading sessions and caution ahead of the expiry of June derivative contracts tomorrow.
At 15:05PM, the 30-share Sensex was down 21 points at 27,784 and the 50-share Nifty was down 4 points at 8,378.
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(Updated at 2:30PM)
The benchmark indices have held on to their gains in the afternoon session due to positive cues from the Asian market front. Strength in heavyweights such as ICICI Bank, ITC and RIL are aiding the momentum on the bourses.
At 2.30pm, the 30-share Sensex was up 107 points at 27,910 and the 50-share Nifty was up 27 points at 8,409.
In the broader markets, the BSE Mid-cap and Small-cap indices are trading with marginal gains up 0.2-0.3% each.
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(Updated at 1.02 pm)
Benchmark share indices remained range bound in noon trades on Wednesday with investors focussing on defensive shares after the rally in the previous eight trading sessions. Meanwhile, volatility is not ruled out later today with the June derivative contracts set to expire tomorrow.
At 1PM, the 30-share Sensex was up 106 points at 27,910 and the 50-share Nifty was up 27 points at 8,409.
In the broader market, the BSE Mid-cap and Small-cap indices are trading with marginal gains up 0.2-0.3% each.
The market breadth was positive, with 1,312 gainers and 1,072 losers on the BSE.
Meanwhile, Securities and Exchange Board of India (Sebi) on Tuesday halved the time required between listing and closing of an initial public offering (IPO) to six days. The stock market regulator also eased the framework for start-ups to raise capital from the stock market.
The Indian rupee was trading lower at 63.65 to the US dollar compared to the previous close of 63.59.
According to provisional stock exchange data foreign portfolio investors were net sellers to the tune of Rs 375 crore on Tuesday.
GLOBAL MARKETS
Asia stocks were trading with gains on hopes that the Greek debt crisis would be resolved. Japan's benchmark index Nikkei hit an 18-year high of 20,952.71 in intra-day trade to end at 0.3% up at 20,868.03. Shanghai Composite gained 2.3% while Hang Seng and Straits Times were up 0.3% each.
European shares extended gains and were trading flat in early trades. The FTSE-100, CAC-40 and DAX were up 0.1-0.4% each.
SECTORS & STOCKS
BSE Healthcare and FMCG indices were the top sectoral gainers up over 1% each followed by Power, Realty, Bankex and Capital Goods among others. Auto and Metal indices were trading marginally down.
HUL was up nearly 3% on reports that the FMCG major is in advanced discussions with Mosons Extractions Pvt. Ltd to buy the Indulekha brand of hair care products, including an ayurvedic hair grooming oil and shampoo, for around Rs.500 crore, media reports suggest. ITC was up 1%.
Lupin was up 2% after the Board of Directors of Lupin has given an in-principle approval for raising funds of up to Rs. 7,500 crore. Among other pharma shares, Sun Pharma was up 2% and Dr Reddy's Labs was trading marginally higher.
BHEL was the top Sensex gainer up 4.4%. The PSU engineering major said it has commissioned a 250 MW unit of NTPC's Bongaigaon thermal power plant in Kokrajhar district in Assam.
ICICI Bank was up 1.7% amid renewed buying interest after the stock corrected in the previous sessions.
Among the index heavyweights Reliance Industries and Infosys were up 0.4-0.5% each.
Most auto shares were trading with losses. M&M, Bajaj Auto, Hero MotoCorp and Tata Motors were down 0.3-1.6% each.
Sensex losers include, HDFC Bank, Bharti Airtel and SBI among others.
Among other shares, Cadila Healthcare was up over 2% at Rs 1,768 after the company said that it has received final approval to market Pyridostigmine Bromide tablets USP, 60 mg, which is dispensed for the treatment of various neurological disorders.
