Sensex closes day in red, sees third straight day of decline; RIL top gainer

NEW DELHI: The S&P BSE Sensex ended the day at 26,813.42, down 23.78 points.

The broader 50-share Nifty closed session at 8,130.65, down 4.45 points.

20 of 30 Sensex stocks ended the day in red. RIL was the top gainer, up 2%.
Dalal Street saw another day of high volatility, with 30-stock benchmark Sensex slipping nearly 300 points in afternoon trades and then getting back into the green zone before slipping in red again. The markets had opened on a flat note.

The broader 50-stock Nifty breached 8,100 in intraday trade and the rupee hit day's low of 64.26 against the US dollar before seeing some recovery.

The prospect of no further rate cuts from the Reserve Bank is seen to be making the markets trade with a negative bias. Concerns about growth prospects, with indicators such as corporate earnings and credit growth is said to be weighing on the sentiment.

Among Asian peers, China's Shanghai Composite Index made a smart recovery and cut all losses after plunging over 5 per cent.

Japan's Nikkei closed the day marginally hight, up 0.07 per cent, but below 20,500 level.



BUZZING STOCKS

Unitech gains 13.29 percent intraday.

JP Power surges 3.85 per cent intraday.

Nestle falls 6 per cent intraday as Delhi government imposes a 15 day ban on Maggi. Read Here

Eicher Motors slips nearly 6% in intraday trade as Volvo sell its 3.7% stake. Read Here

WHAT TOP EXPERTS SAY

Use gains for short positions on rate-sensitives: Ashwani Gujral, Fund Manager, Ashwanigujral.com.

Maggi news too hot, Nestle will be under pressure: Ambareesh Baliga, Market expert.

Expect to see more weakness in rupee against dollar going ahead: DBS Bank

Rel Jio is a concern; book profits on Bharti, Idea: Ambareesh Baliga, Market expert.

Expect some kind of pullback to levels around 8,185-8,200: Mitesh Thacker, Technical Analyst, miteshthacker.com on Nifty

Do not add fresh positions on Emami post Kesh King: Ambareesh Baliga, Market expert.

Long-term investors will look at investing in Nestle at right valuation: Elara Capital

Do not see rupee breaching 64.5/$ very soon: BofA-ML

Markets falling 10% more overstreched: Axis Capital

Govt reforms the next big trigger for the market: Kotak Institutional Equities

MARKETS THROUGH THE DAY

Markets @ 3:00

Sensex: 26,888, down 37 points; Nifty: 8124, down 10 points

Top Gainers

RELIANCE IND. (1.7%), WIPRO (1.2%), AXIS BANK (1.1%), HDFC BANK (1.0%), HDFC (0.8%)

Top Losers

TATA STEEL (-2.7%), ONGC (-2.0%), VEDANTA LTD (-2.0%), ICICI BANK (-1.7%), SUN PHARMA (-1.2%)

Markets @ 2:20

Sensex at 26,633, down 197 points. Nifty at 8,081, down 53 points.

Top Gainers

WIPRO (1.6%), RELIANCE IND. (0.6%), INFOSYS LTD (0.1%), L&T (0.0%)

Top Losers

TATA STEEL (-3.1%), ICICI BANK (-2.7%), VEDANTA LTD (-2.5%), SUN PHARMA (-2.4%), TATA POWER (-1.8%)

Markets @ 12:00

Sensex: 26,791, down 45 points; Nifty: 8,124, down 10 points

Top Gainers

WIPRO (2.4%), RELIANCE IND. (1.3%), INFOSYS LTD (1.0%), AXIS BANK (0.9%), SBI (0.8%)

Top Losers

ICICI BANK (-2.4%), TATA STEEL (-2.3%), SUN PHARMA (-1.8%), TATA MOTORS (-1.8%), ONGC (-1.7%)

Markets @ 11:00

Top Gainers

Sensex: 26,845, up 8 points; Nifty: 8,141, up 6 points

WIPRO (1.6%), INFOSYS LTD (1.4%), RELIANCE IND. (1.2%), SBI (1.1%), AXIS BANK (1.0%)

Top Losers

TATA STEEL (-2.1%), ICICI BANK (-2.0%), TATA MOTORS (-1.7%), SUN PHARMA (-1.4%), HERO MOTOCORP (-1.3%)

Markets @ 10:00

Sensex: 26,854, up 16 points; Nifty: 8,137, up 2 points

Top Gainers

INFOSYS LTD (1.2%), WIPRO (1.2%), AXIS BANK (1.1%), DR. REDDYS LAB (0.9%), CIPLA (0.8%)

Top Losers

ICICI BANK (-2.2%), HINDALCO (-2.1%), TATA MOTORS (-1.9%), ONGC (-1.1%), HERO MOTOCORP (-1.1%)

Markets @ 9.20

The 30-share index was at 26,862 up 25 points or 0.09 per cent. It touched a high of 26,948.84 and a low of 26,785.73 in trade today.

The Nifty was at 8137 up 2.45 points or 0.03 per cent. It touched a high of 8160.05 and a low of 8109.90 in trade today.

The S&P BSE Midcap Index was up 0.23 per cent and BSE S&P Smallcap Index edged higher by 0.28 per cent.