Disappointing close for markets

New Delhi: The markets opened positive but could not hold their gains at the higher level and slipped in red. It closed near the lowest point of the day with negative market breadth. Most of the Asia ended flat, but China was down over 8 per cent.

Sensex was down 74.98 points or 0.51 per cent at 14495.77, and the Nifty down 30.00 points or 0.70 per cent at 4267.05.

About 1149 shares have advanced, 1371 shares declined, and 83 shares are unchanged.

Auto, IT and capital goods were among the major losers. In the auto sector Tata Motors slipped as it came out with disappointing set of monthly May sales. The IT stocks continue to reel under pressure as the rupee is seen trading at 40.52 levels against the dollar.

Sugar sector was a major underperformer in today's session. Bajaj Hindustan, Balrampur Chini, Renuka were among the major losers.

However, metal index outperformed the markets with gains of over 1.2 per cent. Hindalco surged and ended up over 4 per cent on reports that Sterlite with Alcan is looking to buy stake in Hindalco.

FMCG stocks ITC and Dabur India were also among the top gainers. The BSE Small Cap Index closed at 7,466.77 down 0.01 per cent.

The BSE Midcap Index ended at 6,233.58 down 0.5 per cent. The BSE FMCG Index up 0.2 per cent at 1,881.32. Dabur India, ITC, Nestle, Bata India closed in green.

The BSE Metal Index was up 1.6 per cent to close at 10,634.17. Jindal Steel, Hind Zinc, Hindalco, Jindal Saw, Tata Steel were among the gainers.

The BSE Health Care Index was down 0.3 per cent at 3,840.59. Panacea Biotech, Cipla, Wockhardt, Divis Labs closed lower.

The BSE Capital Goods Index was down 1.2 per cent at 11,102.87. Bharat Elec, BHEL, Thermax, Praj Industries, HEG ended lower. The BSE Auto Index closed at 4,948.37 down 1.6%. Tata Motors, TVS Motor, Escorts, Bharat Forge, Cummins among the losers.

The BSE IT Index closed at 4,846.50 down 1.3 per cent. Patni Computer, Satyam, I-Flex Solution, Wipro ended weak. The BSE Bankex was up 0.8 per cent at 7,741.56. Union Bank, SBI, Federal Bank, Bank of Baroda, IOB closed higher.

The BSE Oil and Gas Index closed at 7,691.14 down 1.1 per cent. GAIL, HPCL, IOC, Reliance Natura closed in red. The NSE cash turnover was at Rs 8533.08 crore and the NSE F&O turnover was at Rs 28727.23 crore.

The BSE cash turnover was Rs 3682.8 crore. Total market wide turnover was at Rs 40943.11 crore.