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Benchmark share indices ended lower, amid a volatile trading session, weighed down by profit taking in ICICI Bank and Tata Power.
The 30-share Sensex provisionally ended down 53 points at 28,830 and the 50-share Nifty ended down 26 points at 8,698.
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(Updated at 3:10PM)
Benchmark share indices came off their intra-day highs as investors turned cautious and booked profits in late trades.
At 3:10PM, the 30-share Sensex was up 12 points at 28,895 and the 50-share Nifty was trading flat at 8,725.
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Updated at 2:15PM
Benchmark indices have recovered in late noon trades to gain over 1% and are likely to snap four-day losing streak led by financials and IT majors.
The 30-share Sensex provisionally ended down 53 points at 28,830 and the 50-share Nifty ended down 26 points at 8,698.
_______________________
(Updated at 3:10PM)
Benchmark share indices came off their intra-day highs as investors turned cautious and booked profits in late trades.
At 3:10PM, the 30-share Sensex was up 12 points at 28,895 and the 50-share Nifty was trading flat at 8,725.
__________________
Updated at 2:15PM
Benchmark indices have recovered in late noon trades to gain over 1% and are likely to snap four-day losing streak led by financials and IT majors.
At 2:15PM, the 30-share Sensex was up 364 points at 29,247 and the 50-share Nifty was up 105 points at 8,829.
Meanwhile, foreign institutional investors continue to remain net sellers to the tune of Rs 83.80 crore on Wednesday, as per provisional stock exchange data.
The Indian rupee was trading lower at Rs 61.78 compared with the previous close of Rs 61.75.
BSE IT index was the top gainer up 2.8% followed by Bankex and FMCG indices. However, Metal, Power, Realty and Consumer Durables indices were the top losers.
Financial shares firmed up after remaining subdued post RBI's status quo on interest rates. Mortgage lender HDFC was up 3.7% while bank shares such as HDFC Bank, Axis Bank and SBI were up 1-3% each.
However, ICICI Bank was down 1%.
IT shares are gaining tracking better-than-expected numbers in the fourth quarter as well as the accounting year ended December 31 by IT Services Company Cognizant posted on Wednesday. It gave a robust growth forecast for the next year. Infosys, TCS, HCL Tech and Wipro were up 2-3% each.
Tata Motors was up 1.2% ahead of its results later today.
ONGC has slipped around 3% after yesterday’s rally. Tata Power has declined over 4% despite robust third quarter results.
Sesa Sterlite which had gained in the previous sessions on the back of rebound in global iron ore prices was down 2.3% while Hindalco lost nearly 2% and Tata Steel slipped around 1%.
In the broader market, the BSE Mid-cap and Small-cap indices were trading flat.
Market breadth was weak with 1,396 losers and 1,312 gainers on the BSE.
