Markets touched the day's high in the past one hour of trade but soon slipped from the high levels. The Sensex touched the intra-day high of 18,307 but could not sustain the high levels and dropped.
The BSE benchmark index was at 18,211 higher by 9 points and the S&P CNX Nifty was at 5460 higher by 4 points.
ADAG stocks have gained in the last hour of trade, Reliance Communication was the top gainer on the Sensex, the stock was trading at Rs 101 higher by 4.4% followed by Reliance Infrastructure up nearly 2% to Rs 639. ICICI Bank, Tata Power, NTPC, State Bank of India, Tata Motors, Bajaj Auto and Reliance Industries were also trading higher by 1-1.8% each. On the other hand Jaiprakash Associates, Mahindra & Mahindra, BHEL, TCS and Hindalco were among the losers.
On the sectoral front BSE banking index continued to remain the top gainer, however the index corrected marginally. BSE banking index- Bankex was higher by 1.4% or 172 points at 12,414. PSU index was higher by 64 points to 8607 and the Oil & Gas index added 55 points at 9379, power stocks also witnessed some buying. While Capital Goods index continued to remain the top loser the index was lower by 1.3% or 172 points at 13,129. Realty index shed 1% or 22 points at 2119. IT, healthcare, metal, consumer durable, teck, FMCG and auto stocks also reeled under the selling pressure.
Bank of India was the top gainer among the banking stocks, the stock added 3.4% and was at Rs 444. Kotak Mahindra Bank, Indusind Bank, Canara Bank, Bank of Baroda, Punjab National Bank and ICICI Bank were also trading higher by 2-3% each. Among the PSU stocks Hindustan Copper was the top gainer followed by STC, Dredging Corporation, HMT, Bank of India, Indian Overseas Bank and NMDC.
BHEL was the top loser among the capital goods stocks followed by Bharat Electricals, Areva T&D, Larsen & Toubro, Punj Lloyd and Thermax.
The broader markets were a mixed bag, the BSE mid-cap index slipped marginally into the red lower by 2 points at 6701, however the small-cap index was higher by 0.46% or 37 points at 8153.
The overall market breadth turned neutral as 1395 stocks advanced while 1314 stocks declined.
