Markets continued to trade in the negative territory. The Sensex was at 18,713, lower by 101 points and the S&P CNX Nifty shed 30 points at 5620.
Meanwhile, the European markets were trading on a flat note. FTSE was at 6024, up 6 points. CAC 40 index was down 6 points at 3997 and the DAX was at 7439, down 4 points.
Back home, on the sectoral front BSE realty index continued to remain the top sectoral loser, the index shed 1.5% to 2123 levels. The BSE Oil & Gas index slipped further in the trades, the index was down 1.34% to 9980 points. Power, capital goods, FMCG and banking stocks continued to witness the selling pressure. On the other hand Auto index continued to remain the top sectoral gainer. IT and metal stocks also witnessed some buying. Meanwhile, BSE Consumer Durables index recovered from the intra-day low levels and was trading on a flat note.
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(Updated at 12.30 PM)
Markets fell in the noon deals and were trading near the day's low levels. The BSE benchmark index- Sensex was at 18,708, lower by 106 points and the S&P CNX Nifty was at 5618, down 33 points. Relaty, power and capital goods stocks continued to reel under the selling pressure.
According to Ranak Merchant, Technical Analyst from Sushil Finance, "Nifty is near a Downsloping trend line resistance, but we expect support to emerge between 5580 (200 Day EMA) and 5600 zone."
BHEL was the top loser among the Sensex stocks. The stock slipped by 3.5% to Rs 1974. Reliance Communication shed 2% to Rs 98. Reliance Infrastructure, DLF, ITC, jindal Steel, Hindalco, J P Associates, Reliance Indsutries and Bharti Airtel were also trading lower by 1-2% each in trades so far. At the same time Bajaj Auto, Mahindra & Mahindra, Tata Steel, Tata Motors, Wipro, Sterlite Industries and Maruti Suzuki were among the gainers.
Most of thye sectoral indices were trading with a negative bias barring a few. Realty stocks succumbed to the profit booking of the yesterday's session. BSE Realty index was the top sectoral loser, down 1.3% at 2128 points. Power index was also trading lower by 1% at 2607. Capital Goods and FMCG indices also shed nearly 1% each in the noon deals. Consumer durables, healthcare, banking and oil & gas stocks also reeled under a mild selling pressure. Meanwhile, the Auto stocks continued to witnessed buying. The BSE Auto index advanced 0.8% to 8933 points. Metal and IT stocks too witnessed some buying.
HDIL, Indiabulls Real Estate, Sobha Developers, DLF, Unitech, Anant Raj Industries, Godrej Properties, Parsvanath Developers and Ackruti City were the top losers among the real estate stocks. Ashok Leyland was the top gainer among the auto stocks, up 2.72% to Rs 51. It was followed by Apollo Tyres, Exide Industries, Mahindra & Mahindra, Bajaj Auto and Tata Motors.
Broader markets were trading on lacklustre note. The BSE mid-cap index sliped marginally in to the red, down 11 points at 6955 and the small-cap index was up 12 points at 8335.
The overall breadth was neutral as 1318 stocks were advancing while 1236 stocks were declining.
