Lacklustre trades continue

Markets continued to trade on a lacklustre note in the noon deals, the Sensex was lower by 11 points at 18,496 and the S&P CNX Nifty shed 8 points at 5540.

ADAG stocks led the losers chart on the Sensex, Reliance Comunication was the top loser the stock shed 4.2% at Rs 95 followed by Reliance Infrastructure lower by 3%. ONGC, Jaiprakash Associates, Tata Motors, Mahindra & Mahindra, Sterlite Industries, Larsen & Toubro, Tata Steel, ICICI Bank and Tata Power were also among the losers down 1-3% each. On the other hand Jindal Steel, Hindustan Unilever, Wipro, BHEL, TCS, HDFC Bank, Cipla, HDFC and Infosys were among the gainers.

Driven by poor investor sentiment the realty stock continued to remain under the selling pressure, the BSE realty index lost 2.2% or 48 points and was at 2090. Auto index lost 1.5% or 135 points at 8795 and the Oil & Gas index was lower by 130 points at 9398. Capital Goods, power, metal, bankex, consumer durable and banking stocks were also under a mild selling pressure. Meanwhile, IT, FMCG and Healthcare indices were notable gainers on the sectoral front.

Anant Raj Industries was the top loser among the realty stocks, the stock was lower by 18% to Rs 77. Sobha Developers, Unitech, Orbit Corp, Indiabulls Real Estate, HDIL, Parsvanath developers, Peninsula Land and Phoenix Mills were also among the losers, lower by 1-4% each. Among the auto stocks Tata Motors led the losers charts, followed by Ashok Leyland, Mahindra & Mahindra, Apollo Tyres, Bajaj Auto, Amtek Auto and Hero Honda.

The broader markets also traded with a negative bias, the BSE small-cap index was at 8238 lower by 86 points and the mid-cap index lost 50 points at 6745.

The market breadth remained negative as 1727 stocks declined while 970 stocks declined.