12:59 pm
Jack
Equity benchmarks were consolidating around previous closing values, which was on expected lines after a steep upmove seen yesterday. The 30-share BSE Sensex fell 18 points to 16,940.03 and the 50-share NSE Nifty lost 9 points to 5,090.75.
FMCG, auto, healthcare and select metal stocks were putting some pressure on the market. Heavyweights Bharti and L&T declined nearly 1.5%.
ONGC, Coal India, ITC, NTPC, HUL, HDFC and Tata Motors were down 0.5-0.9%. Jindal Steel and Hindalco fell nearly 2-2.5%.
Upmove in banking stocks led the major support the market. ICICI Bank was the biggest gainer, rising 3%. Meanwhile, SBI gained 2%. HDFC Bank, Kotak Mahindra Bank and PNB were up 0.3-0.6%.
Technology leaders Infosys and TCS too were on buyers' radar - gained 0.7% each. HCL Tech shot up over 2%. Heavyweight BHEL was marginally higher.
SBI, Jubilant Foodworks, Infosys, Tata Motors, Reliance Industries, ICICI Bank and Axis Bank were most active shares on exchanges.
Market breadth was mixed; about 694 shares gained as against 624 shares declined on National Stock Exchange.
Among midcap space, Hathway Cable, Zydus Wellness, Hotel Leela, Manappuram Finance and Voltas gained 3-9% while KGN Industries, Bajaj Electricals, India Securities, Kwality Dairy and Maharashtra Seamless lost 3-5%.
At 10:30 hours IST : Market consolidates; tech, banks support
Indian equity benchmarks maintained the positive trend amid a choppy trade, supported by technology, banking, FMCG, select metal and auto stocks. The 30-share BSE Sensex rose 40.4 points to 169,98.78 and the 50-share NSE Nifty gained 12 points at 5,111.70.
Asian markets too were quite supportive; Hang Seng gained further, rising 2%. Nikkei and Kospi rose 1% each. Shanghai, Straits Times and Taiwan moved up 0.4-0.6%.
Back home, shares of country's largest banks - SBI and ICICI Bank led the market, gaining 2-2.5%. HDFC Bank and Kotak Mahindra Bank climbed over 0.5%.
Heavyweight Reliance Industries too was trading with 0.4% gain. Technology stocks continued to stay on buyers' radar - TCS, Infosys and Wipro were up 0.5-1%. HCL Tech surged 2%.
However, the selling in ONGC, Coal India, L&T, Bharti Airtel, NTPC, HDFC and ITC has limited the upside - these stocks declined between 0.3% and 1%.
Jindal Steel, which shot up 6% yesterday, lost 2% on profit booking. ACC, Dr Reddy's Labs, Sesa Goa, Maruti, Sun Pharma and Cairn slipped 1% each.
About two shares gained for every share falling on NSE.
