Markets end choppy, get all the action

The markets ended the choppy session lower, after breaking the winning streak. The Sensex ended on a sluggish note as RIL AGM did not turned out to be an eventful one. Metal, oil & gas, and auto stocks also dragged index down, while selective buyinh was seen in index pivotals and sectors.



It opened on a quiet note amid mixed Asian cues and continued to trade higher ahead of RIL annual general meeting. Later the index pared all gains and turned into red post AGM. Shares of Anil Dhirubhai Ambani Group (ADAG) fell post the 36th annual general meeting of Reliance Industries (RIL) as younger brother Anil remained absent in the meeting. RIL stock was down nearly 1% as chairman Mukesh Ambani made no major surprises at its AGM held today. In the early trade, RIL and ADAG stocks had moved up in expectations that there could be some major announcements at the AGM, signaling a deeper peace between the Ambani brothers.The index slipped further as selling was seen in frontliners. Finally, it closed in red after touching a low of 17,525.29.

European stocks advanced for an eighth day, the longest stretch of gains in 11 months, as concern over the region`s debt crisis eased. US index futures declined. Asian stocks end mixed, driving the MSCI Asia Pacific Index to its longest winning streak in 11 months, as gold close to record high boosted producers of the metal.

At the close, the benchmark 30-share index, BSE Sensex lost 45.87 points or 0.26% at 17,570.82. Meanwhile, the broad based NSE Nifty fell 12.25 points or 0.23% at 5,262.60.

Sensex Movers

Reliance Industries (RIL) contributed fall of 37.22 points in the Sensex. It was followed by ICICI Bank (23.58 points), Sterlite Industries (India) (7.52 points), Mahindra & Mahindra (6.8 points) and Reliance Infrastructure (6.66 points).

However, Larsen & Toubro contributed rise of 15.5 points in the Sensex. It was followed by State Bank Of India (10.18 points), Infosys Technologies (8.97 points), Bharat Heavy Electricals (7.38 points) and Hindustan Unilever (6.22 points).

Biggest gainers in the 30-share index were Hero Honda Motors (1.81%), Hindustan Unilever (1.72%), Bharat Heavy Electricals (1.39%), Larsen & Toubro (1.29%), State Bank Of India (1.17%), and Tata Consultancy Services (0.89%).

On the other hand, Reliance Communications (3.58%), Reliance Energy (3.01%), Sterlite Industries (India) (2.34%), Maruti Suzuki India (2.01%), Mahindra & Mahindra (1.96%), and ICICI Bank (1.91%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Midcap index was at 6975.63 down by 35.57 points or by 0.51%.
The major losers were Ackruti City (1.89%), Alfa-Laval (India) (1.85%), Alstom Projects India (1.23%), A I A Engineering (0.87%) and Aban Offshore (0.03%).

The BSE Smallcap index was at 8846.27 down by 44.6 points or by 0.5%.
The major losers were Reliance MediaWorks (6.94%), A B G Infralogistics (1.98%), Advanta India (1.59%), Adhunik Metaliks (0.81%) and Action Construction Equipment (0.41%).

Sectors in Limelight

The Metal index was at 14,822.21, down by 176.25 points or by 1.18%. The major losers were Hindustan Zinc (3.3%), National Aluminium Company (2.25%), JSW Steel (1.07%), Hindalco Industries (0.72%) and NMDC (0.24%).

The Oil & Gas index was at 10,293.21, down by 114.97 points or by 1.1%. The major losers were Bharat Petroleum Corporation (2.66%), Essar Oil (2.35%), G A I L (India) (0.48%), Cairn India (0.36%) and Aban Offshore (0.03%).

The Auto index was at 8,135.37, down by 50.83 points or by 0.62%. The major losers were Mahindra & Mahindra (1.96%), Exide Industries (1.35%), Cummins India (1.32%), Bharat Forge (0.9%) and Apollo Tyres (0.08%).

On the other hand, the Capital Goods index was at 14,551.28, up by 89.06 points or by 0.62%. The major gainers were Bharat Heavy Electricals (1.39%), Larsen & Toubro (1.29%), Usha Martin (0.82%) and BEML (0.7%).


Market Breadth

Market breadth was negative with 1,078 advances against 1,826 declines.

Value and Volume Toppers

Reliance Industrial Infrastructure topped the value chart on the BSE with a turnover of Rs. 2,961.43 million. It was followed by Reliance Natural Resources (Rs. 2,793.23 million), Reliance Industries (Rs. 2,265.95 million) and Reliance Communications (Rs. 1,413.66 million).

The volume chart was led by Reliance Natural Resources with trades of over 44.51 million shares. It was followed by Reliance Power (7.99 million), Reliance Communications (7.66 million) and Spicejet (5.37 million).