Mkt shows smart recovery; ends with moderate losses

New Delhi: It was an unexpected but a smart recovery shown by the markets as the Sensex moved up closing off day's lows.

It opened in deep red and traded in negative terrain for major part of the day but showed sharp upmove to end with moderate losses.

Sensex recovered over 400 points from the day's low. Nifty recovered over 160 points from the lows. The bailout was led by heavyweights mainly by banking pivitols like SBI, PNB and ICICI Bank along with oil marketing and refiners like HPCL, BPCL and RPL.

Broader markets were underperformers but were significantly off the lows. Nifty Junior was up 1% by the close.

Among the top gainers PNB, HPCL, SBI were up five per cent each, ICICI, BPCL and RPL were up four per cent.

GMR Infra, RNRL, IFCI, Essar Oil were the gainers in the midcap space.

Among the frontline losers Unitech is down 8.5 per cent, NTPC and Sterlite were down five per cent. DLF down over five per cent, ONGC and Reliance Energy down over five per cent.

Oswal Chem, CESC, Petronet LNG, Neyvelie Lignite were the top laggards in the midcap space.

Sensex was down 76.30 points or 0.41 per cent at 18526.32, and the Nifty down 41.70 points or 0.75 per cent at 5519.35.

About 939 shares have advanced, 2066 shares declined, and 68 shares are unchanged.

The BSE Midcap Index ended at 8,090.84 down 1.6 per cent.

The BSE Smallcap Index ended at 10,060.87 down two per cent.

The BSE Bankex was up two per cent at 10,406.24. Top losers were HDFC Bank, ICICI Bank and SBI. Midcap bank stocks were on fire with CBoP up 14 per cent , Vijaya Bank up 13.8 per cent.

The BSE Capital Goods Index was down 2.5 per cent at 18,815.18. Reliance Infra, Carborundum, Larsen, Thermax closed lower.

The BSE Auto Index closed at 5,179.16 down 0.2 per cent. Apollo Tyres, Escorts, TVS Motor, Exide Ind, Ashok Leyland closed higher.TVS Motor up 12%, Escorts up 12%, Ashok Leyland up 6.7 per cent, LML locked at five per cent.

The BSE Metal Index closed at 16,045.12 down 1.3%. Jindal Saw, Sterlite Ind, JindalStainless, NALCO, Hind Zinc closed lower.

The BSE FMCG Index closed flat at 2,103.72. United Brewerie, Bata India, Colgate, GlaxoSmith Con, Tata Tea ended lower.

BSE Oil and Gas Index closed at 11,692.07 down 0.3 per cent. Petronet LNG, ONGC, Essar Oil, IOC ended lower.

The BSE IT Index was at 3,959.90 down 0.7 per cent. Financial Tech, I-Flex Solution, Patni Computer, Tech Mahindra, Infosys closed lower.

The NSE cash turnover was at Rs 17472.27 crore and the NSE F&O turnover was at Rs 71149.36 crore. The BSE cash turnover was Rs 7107.99 crore. Total market wide turnover was at Rs 95729.62 crore.

(With moneycontrol.com inputs)