Weak global cues in play

STOCK REPORT

Key indices ended 1 per cent down after a volatile session as investors booked profits on weak cues from Asian and European markets. The session was lacklustre in the absence of any fresh triggers.

"Market will remain volatile as the earnings season is almost done with. It is now awaiting outcome of the US Federal Reserve," a dealer said.

The US Fed is widely expected to keep interest rates unchanged at its policy meet on Wednesday but investors will await for comments from the policymakers.

The Bombay Stock Exchange's 30-share Sensex ended at 13765.46, down 113.79 points or 0.8 per cent from Monday. Intraday it moved between 13641.24 and 13956.40.

The National Stock Exchange's 50-share Nifty ended at 4077.00, down 34.15 points or 0.8 per cent. Intraday it moved between 4066.40 and 4136.05.

Turnover on both the exchanges was roughly Rs 13,780 crore compared with Rs 13,160 crore on Monday.

The CNX Midcap Index was down 1.5 per cent and the S&P CNX 500 Index ended down 1 per cent. National Aluminium Co was up 2 per cent at Rs 256 as copper and zinc prices in Shanghai on Tuesday surged 4 per cent, their daily limit, after an extended weekend.

Sterlite Industries was up 0.2 per cent at Rs 534. ACC, up 3 per cent at Rs 890, was the top Nifty gainer on reports Swiss cement maker Holcim Inc bought 60 lakh shares of the company in a Rs 900 per share block deal.

Reliance Capital rose 4 per cent to Rs 770 on reports that global investment entities such as Schroders, Blackstone, and US-based Capital have shown interest in buying stake in the company's mutual fund arm.

Thomas Cook India was up 5 per cent at Rs 595 for the second consecutive day after the company Saturday announced May 21 as the record date for stock split. Shrenuj & Co rallied 6 per cent to Rs 48 on acquisition of US-based jewellery distributors Simon Golub & Sons.

Shares of technology companies fell for the third straight session as sustained appreciation of the rupee against the dollar is seen denting earnings in the April-June quarter, analysts said.

Infosys Technologies ended 2 per cent down at Rs 2,030.

GAIL India ended 4 per cent down on profit sales after gaining in the last two sessions. The company will report Jan-Mar earnings after market hours.

Dabur India was down 2 per cent at Rs 94 after the company reported Jan-Mar net profit of Rs 65.70 crore, up 31 per cent from a year ago.

Nagarjuna Fertilisers & Chemicals declined 6 per cent to Rs 19, after the NSE barred building fresh derivative positions in the contract as it has crossed 95 per cent market wide position limit.

Hero Honda Motors, which is seen reporting a loss in Jan-Mar, ended down 4 per cent at Rs 706 ahead of its earnings Friday.

State Bank of India ended 3 per cent down at Rs 1,120 on profit sales.