Markets are trading with marginal gain but still witnessing some choppiness as buying is seen in FMCG, pharma, oil, technology, select telecom and banking stocks while selling in realty, auto and metal stocks. The BSE midcap and smallcap indices are trading in red.
At 12.52 pm, the Sensex is up 127.80 points or 1.01% at 12803.99, and the Nifty up 2.65 points or 0.07% at 3863.75.
Market breadth is weak; about 1191 shares have advanced, 1691 shares declined. Nearly 265 shares are unchanged.
Top gainers on the bourses are Ranbaxy Labs at Rs 447 up 9.22%, Bharti Airtel at Rs 732.25 up 3.14%, BPCL Rs 254.50 up 3.90% and ONGC at Rs 870.60 up 3.03%.
However, NALCO at Rs 353.90 down 5.9%, Cairn India at Rs 223 down 5.37%, Unitech at Rs 145.90 down 4.98%, Tata Motors at Rs 389.15 down 3.68%, DLF at Rs 412.40 down 3.41% and M&M at Rs 505.05 down 3.24% to losers on the bourses.
BSE FMCG and Healthcare gained over 1.5% each. IT and Oil & Gas rose 0.5%. However, Realty Index plunged 3.5%, Auto -1.75% and Metal -0.7%.
Markets @ 14:45 am : Mkts choppy; auto, realty, metal stocks down
Markets have given up early trade gains and trading flat with some choppiness as selling is seen in realty, auto, metal and power stocks while buying in FMCG, pharma and select technology stocks. Nifty lost nearly 60 points and Sensex over 180 points from day's high.
At 11:45 am, the Sensex was up 58 points at 12,734 while Nifty down 7.7 points at 3,853. Nifty July Futures was trading at 16 points discount. BSE Midcap and Small Cap indices lost over 0.8% each.
Daryl Guppy, Founder and Director of guppytraders.com sees immediate support for Nifty at 3600; below that it will be at 2900. According to him, we will witness a strong bear market if Nifty fails to hold above 3600.
Guppy sees support for Sensex at 12200-12380. He feels that Sensex could fall to 10000 levels, if 12200 fails to hold.
Market breadth is weak; about 1245 shares have advanced while 1637 shares declined. Nearly 265 shares are unchanged.
Top losers are Tata Motors, DLF, M&M, Unitech and Cairn India while gainers - Ranbaxy Labs, ITC, Bharti Airtel and BPCL.
BSE Realty, Auto and Metal indices lost 2-3%. Power fell 0.9%. However, FMCG gained 1.5% and Healthcare up 0.6%.
Most active counters on the bourses are Reliance Capital, Ranbaxy Labs and Reliance Industries.
Thermax went up around 2% as the company has bagged order worth Rs 820 crore.
BGR Energy has received EPC contract worth Rs 4,900 crore from Rajasthan Rajya Vidyut Utpadan Nigam for 2 x 600 MW Kalisindh Thermal Power Project. Stock surged over 10%.
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