Sensex ends 75 points down, Nifty below 8,400 as Greece says 'deal proposal rejected'; metals crack
The broader 50-share Nifty ended 20.70 points down at 8,360.85 after reclaiming the crucial psychological level of 8400 in intraday trade.
By ET Online | Updated:
NEW DELHI: The 30-share Sensex closed the day at 27,729.67, down 74.7 points. The markets took a sudden downward turn in late trade after Greece PM Alxis Tsipras said that the creditors did not accept their debt proposal. Soon after, the S&P BSE slipped in red, breaking its eight-day winning streak.
The broader 50-share Nifty ended 20.70 points down at 8,360.85 after reclaiming the crucial psychological level of 8400 in intraday trade.
25 of 30 stocks on Sensex ended the day in red. Metal stocks were the biggest losers, with Tata Steel and Hindalco cracking over 3 per cent each, top losers on Sensex.
"Reactions are short-read and it's not the end of the road," Ipek Ozkardeskaya, London Capital said. "This is a hiccup, there could be a more to and fro that could happen before June 30," he added.
The Europeans shares too slipped into the red. Dax was down 0.9%; CAC40 fell 0.7% and Italy was trading 0.8% lower. These markets had opened in opposite territory.
Greece's ATG share index fell over 4 per cent soon after the PM's statement came in.
In previous eight sessions, BSE barometer had zoomed by 1,433.39 points or 5.4 per cent as better-than-forecasted monsoon raised hopes of a rate cut by RBI.
Participants preferred to trim positions ahead of tomorrow's June month's expiry in the derivatives segment.
Hindalco was the biggest loser on the Sensex with a fall of 3.70 per cent, followed by Tata Steel by 2.98 per cent.
Meanwhile, foreign investors sold shares worth Rs 374.97 crore yesterday, as per provisional data.
BUZZING STOCKS
ABG Shipyard surged about 9 per cent in intraday trade.
Srikalahasthi Pipes rallied over 14 per cent in intraday trade.
Sun TV plunged over 13 per cent in intraday trade. Read here
Persistent Systems cracked over 13 per cent in intraday trade. Read here
Lanco Infratech rallied over 16 per cent in intraday trade.
Infinite Computer Solutions gained 5 per cent in intraday trade after board approved buyback proposal. Read here
Mastek surged nearly 5 per cent in intraday trade. Read here
Jet Airways gained nearly 5 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Sebi-FMC to bring in more transparency in commodity markets: MCX. Watch here
Maintain target of 9,600-9,900 on Nifty for next year: Quant Capital. Watch here
Stock looks attractive at 14x FY17E earnings: Citi on AurobindoPharma
Seeing shift in IT stocks to energy stocks: Quant Capital
Immediate resistance for Bank Nifty seen at 18,450: Mitesh Thacker, Technical Analyst, miteshthacker.com
Sebi-FMC will bring in more transparency in commodity markets: PK SInghal, MCX
More steam left in Nifty; index may touch 8,500: Ashwani Gujral, Fund Manager, Ashwanigujral.com. Read here
Nifty in overbought situation; use any dip to buy July call options: Mitesh Thacker, Technical Analyst, miteshthacker.com. Read here
Realty stocks gaining momentum on hopes of improvement in balance sheets: Deven Choksey, MD, KR Choksey Securities. Read here
Good time to accumulate ICICI Bank stock: Deven Choksey, MD, KR Choksey Securities. Read here
MARKETS THROUGH THE DAY
Markets @ 1:30
Sensex: 27,912, up 107 points; Nifty: 8,409, up 27 points
Top Gainers
BHEL (4.6%), HIND. UNILEVER (3.1%), SUN PHARMA (2.3%), LUPIN LTD (2.0%), ICICI BANK (1.4%)
Top Losers
HINDALCO (-2.4%), M&M (-1.5%), TATA STEEL (-1.3%), BHARTI AIRTEL (-0.9%), SBI (-0.6%)
Markets @ 12:20
Sensex: 27,877, up 73 points; Nifty: 8,402, up 20 points
Top Gainers
BHEL (4.1%), HIND. UNILEVER (2.7%), LUPIN LTD (2.0%), SUN PHARMA (1.8%), WIPRO (1.2%)
Top Losers
HINDALCO (-1.8%), M&M (-1.4%), TATA STEEL (-0.9%), BHARTI AIRTEL (-0.8%), NTPC (-0.7%)
Markets @ 11:00
Sensex: 27,886, up 82 points; Nifty: 8,403, up 21 points
Top Gainers
HIND. UNILEVER (2.3%), BHEL (1.9%), SUN PHARMA (1.5%), LUPIN LTD (1.5%), WIPRO (1.2%)
Top Losers
HINDALCO (-1.2%), M&M (-0.8%0, TATA STEEL (-0.7%), MARUTI SUZUKI (-0.6%), SBI (-0.4%)
Markets @ 10:00
Sensex: 27,903, up 100 points; Nifty: 8,407, up 26 points
Top Gainers
HIND. UNILEVER (1.8%), LUPIN LTD (1.4%), BHEL (1.3%), SUN PHARMA (1.2%), VEDANTA LTD (1.1%)
Top Losers
HDFC (-0.8%), BAJAJ AUTO (-0.7%), MARUTI SUZUKI (-0.5%), BHARTI AIRTEL (-0.3%), SBI (-0.2%)
Markets @ 9.20
The 30-share index was trading at 27852, up 48 points or 0.17 per cent. It touched a high of 27,876.85 and a low of 27,787.98 in trade today.
The Nifty was at 8,393 up 12 points or 0.14 per cent. It touched a high of 8399.85 and a low of 8376.10 in trade today.
The broader 50-share Nifty ended 20.70 points down at 8,360.85 after reclaiming the crucial psychological level of 8400 in intraday trade.
25 of 30 stocks on Sensex ended the day in red. Metal stocks were the biggest losers, with Tata Steel and Hindalco cracking over 3 per cent each, top losers on Sensex.
"Reactions are short-read and it's not the end of the road," Ipek Ozkardeskaya, London Capital said. "This is a hiccup, there could be a more to and fro that could happen before June 30," he added.
The Europeans shares too slipped into the red. Dax was down 0.9%; CAC40 fell 0.7% and Italy was trading 0.8% lower. These markets had opened in opposite territory.
Greece's ATG share index fell over 4 per cent soon after the PM's statement came in.
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In previous eight sessions, BSE barometer had zoomed by 1,433.39 points or 5.4 per cent as better-than-forecasted monsoon raised hopes of a rate cut by RBI.
Participants preferred to trim positions ahead of tomorrow's June month's expiry in the derivatives segment.
Hindalco was the biggest loser on the Sensex with a fall of 3.70 per cent, followed by Tata Steel by 2.98 per cent.
Meanwhile, foreign investors sold shares worth Rs 374.97 crore yesterday, as per provisional data.
BUZZING STOCKS
ABG Shipyard surged about 9 per cent in intraday trade.
ADVERTISEMENT
Srikalahasthi Pipes rallied over 14 per cent in intraday trade.
Sun TV plunged over 13 per cent in intraday trade. Read here
ADVERTISEMENT
Persistent Systems cracked over 13 per cent in intraday trade. Read here
Lanco Infratech rallied over 16 per cent in intraday trade.
Infinite Computer Solutions gained 5 per cent in intraday trade after board approved buyback proposal. Read here
Mastek surged nearly 5 per cent in intraday trade. Read here
Jet Airways gained nearly 5 per cent in intraday trade.
WHAT TOP EXPERTS SAY
Sebi-FMC to bring in more transparency in commodity markets: MCX. Watch here
Maintain target of 9,600-9,900 on Nifty for next year: Quant Capital. Watch here
Stock looks attractive at 14x FY17E earnings: Citi on AurobindoPharma
Seeing shift in IT stocks to energy stocks: Quant Capital
Immediate resistance for Bank Nifty seen at 18,450: Mitesh Thacker, Technical Analyst, miteshthacker.com
Sebi-FMC will bring in more transparency in commodity markets: PK SInghal, MCX
More steam left in Nifty; index may touch 8,500: Ashwani Gujral, Fund Manager, Ashwanigujral.com. Read here
Nifty in overbought situation; use any dip to buy July call options: Mitesh Thacker, Technical Analyst, miteshthacker.com. Read here
Realty stocks gaining momentum on hopes of improvement in balance sheets: Deven Choksey, MD, KR Choksey Securities. Read here
Good time to accumulate ICICI Bank stock: Deven Choksey, MD, KR Choksey Securities. Read here
MARKETS THROUGH THE DAY
Markets @ 1:30
Sensex: 27,912, up 107 points; Nifty: 8,409, up 27 points
Top Gainers
BHEL (4.6%), HIND. UNILEVER (3.1%), SUN PHARMA (2.3%), LUPIN LTD (2.0%), ICICI BANK (1.4%)
Top Losers
HINDALCO (-2.4%), M&M (-1.5%), TATA STEEL (-1.3%), BHARTI AIRTEL (-0.9%), SBI (-0.6%)
Markets @ 12:20
Sensex: 27,877, up 73 points; Nifty: 8,402, up 20 points
Top Gainers
BHEL (4.1%), HIND. UNILEVER (2.7%), LUPIN LTD (2.0%), SUN PHARMA (1.8%), WIPRO (1.2%)
Top Losers
HINDALCO (-1.8%), M&M (-1.4%), TATA STEEL (-0.9%), BHARTI AIRTEL (-0.8%), NTPC (-0.7%)
Markets @ 11:00
Sensex: 27,886, up 82 points; Nifty: 8,403, up 21 points
Top Gainers
HIND. UNILEVER (2.3%), BHEL (1.9%), SUN PHARMA (1.5%), LUPIN LTD (1.5%), WIPRO (1.2%)
Top Losers
HINDALCO (-1.2%), M&M (-0.8%0, TATA STEEL (-0.7%), MARUTI SUZUKI (-0.6%), SBI (-0.4%)
Markets @ 10:00
Sensex: 27,903, up 100 points; Nifty: 8,407, up 26 points
Top Gainers
HIND. UNILEVER (1.8%), LUPIN LTD (1.4%), BHEL (1.3%), SUN PHARMA (1.2%), VEDANTA LTD (1.1%)
Top Losers
HDFC (-0.8%), BAJAJ AUTO (-0.7%), MARUTI SUZUKI (-0.5%), BHARTI AIRTEL (-0.3%), SBI (-0.2%)
Markets @ 9.20
The 30-share index was trading at 27852, up 48 points or 0.17 per cent. It touched a high of 27,876.85 and a low of 27,787.98 in trade today.
The Nifty was at 8,393 up 12 points or 0.14 per cent. It touched a high of 8399.85 and a low of 8376.10 in trade today.
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