After Market Hours
Gandhi Kutir
The market slipped owing to the weakness in Asian markets and heavy
selling in heavyweight, information technology, oil and capital goods
stocks.
A day after the Sensex gained 170 points on sustained all-round
buying, the market was gloomy amid a range-bound trend during intra-
day trades.
The Sensex saw the strong optimism vanish after adding 58 points to
touch the day's high of 14023. Yet another day the Sensex could not
sustain above 14000 level. The market moved in a range for most part
of the morning session but eased in the afternoon on sustained selling
in information technology (IT) and oil stocks to touch the intra-day
low of 13885. Buying at lower levels among front-line stocks helped
the Sensex to trim the losses towards the close and the index wrapped
up the session at 13929, down 37 points. The Nifty shed 14 points and
closed at 4120.
The broader market, however, continued to remain in the green. Of the
2,679 stocks traded on the BSE, 1,330 stocks advanced, 1,271 stocks
declined and 78 stocks ended unchanged. Most of the sectoral indices
ended in the red except the BSE Bankex, which was the biggest gainer
and moved up by 1.65% at 7191. The BSE IT index slipped 1.34% at 4873,
the BSE Oil & Gas index dropped 0.87% at 7291 followed by the BSE Teck
index (down 0.69% at 3661) and the BSE Auto index (down 0.48% at
4997).
Among the laggards, Satyam Computer was down 2% at Rs452, Wipro
declined by 1.80% at Rs534, ONGC shed 1.80% at Rs890, Infosys dropped
1.48% at Rs1,973, Reliance Communication lost 1.43% at Rs475 and
Reliance Industries fell 1.42% at Rs1,598. However, select
heavyweights attracted decent buying support. BHEL surged 2.54% at
Rs2,519, ICICI Bank rose 1.96% at Rs887, SBI jumped 1.73% at Rs1,226,
HDFC Bank added 1.43% at Rs1,010, Hero Honda moved up by 1.12% at
Rs698 and Bharti Airtel gained 1.04% at Rs833.
Select IT stocks witnessed considerable selling pressure. Teledata
Informatics dropped 4.76% at Rs67, Aztecsoft lost 2.38% at Rs88, Patni
Computers declined by 2.20% at Rs480, Rolta India slipped by 2.06% at
Rs440 and I-Flex Solutions was down 2.03% at Rs2283.
Banking stocks, however, were in the limelight. Oriental Bank surged
3.11% at Rs207, Canara Bank jumped 3.02% at Rs237, Punjab National
Bank soared 2.10% at Rs546 and UTI Bank gained 1.90% at Rs535.
Over 3.69 crore Reliance Natural Resources shares changed hands on the
BSE followed by Petronet LNG (94.31 lakh shares), IFCI (86.05 lakh
shares), Reliance Petroleum (84.83 lakh shares) and Nagarjuna
Fertilizers (70.94 lakh shares).
Indiabulls Real Estate topped the value list with a turnover of Rs131
crore on the BSE followed by SBI (Rs123 crore), Reliance Natural
Resources (Rs113 crore), Reliance Industries (Rs99 crore) and Educomp
Solutions (Rs86 crore).
Gandhi Kutir
After exhibiting considerable volatility during intra-day trades, the
Sensex ended the session with marginal gains of four points.
After registering gains for the last two sessions the Sensex opened
lower today, tracking weak global cues. The market remained subdued
despite the fact that inflation rate fell
to 5.44% for the week ended May 5 from 5.66% in the previous week. The
Sensex gained some momentum in the mid morning trades but after
exhibiting some volatile moves the index slipped into the red again on
heavy selling in auto and metal stocks. The Sensex touched the day's
low of 14201, down 99 points to its previous close. The resumption of
buying in the afternoon saw the Sensex move into positive territory
and the index gained some strength. But, lack of buying interest kept
the market subdued and the Sensex closed the session on a flat note
with a gain of four points at 14303. The Nifty closed the session down
five points at 4215.
The market breadth was negative, with the losers outpacing the gainers
in the ratio of 1.35:1. Of the 2,669 stocks that traded on the BSE,
1,491 stocks declined, 1,106 stocks advanced and 72 stocks ended
unchanged. Most of the sectoral indices ended in the green. The BSE
Auto index dropped 1.86% at 4910 followed by the BSE Metal index (down
1.18% at 10242) and the BSE PSU index (down 0.72% at 6699).