Sensex settles 72 points down, Nifty below 7,750 in a choppy session; ITC top gainer
The sentiment on the Street remained muted ahead of a deluge of corporate results and the expiry of derivative contracts this week. ITC, Adani Ports and Bharti Airtel were the top gainers on Sensex.
- May 23, 2016,
- Updated May 24, 2016 9:10 AM IST
In a choppy trade on Monday, the S&P BSE Sensex pared all its early gains to settle the day 71 points lower, while the broader CNX Nifty ended below its key 7,750-mark.
The sentiment on the Street remained muted ahead of a deluge of corporate results and the expiry of derivative contracts this week.
The 30-share index ended the day at 25,230, down 71.54 points, while broad-based 50-share index quoted 7,731, down 18.65 points at close.
Market breadth remained weak for the day. A total of 2,759 stocks on BSE that traded for the day, 1,501 ended lower, 1,081 gained, while 177 remained unchanged.
Global stock markets were also a bit lacklustre as investors bet that the US Federal Reserve was on track to raise rates sooner rather than later.
But the domestic market will focus on corporate earnings, with Cipla, Tata Steel, Bharat Heavy Electricals Ltd and State Bank of India due to report earnings.
"We have F&O (futures and options) expiry and a whole host of large and mid-cap companies reporting this week and the next. My sense is that markets would be subdued and we may see bouts of short-selling depending upon how earnings are going to unfold," said Gaurang Shah, vice president at Geojit BNP Paribas.
ITC was the top gainer on both the headline indices after the FMCG major reported an increase of 5.67 per cent in standalone net profit at Rs 2,495.20 crore for the fourth quarter ended March 31.
Among other gainers, National Aluminium Co rose 3.58 per cent ahead of a board meeting on May 25 to consider share buyback.Power Grid Corp of India rose 2.63 per cent after the BSE and S&P Dow Jones Indices said on Friday that the stock would be added to the benchmark index from June 20.
However, biscuits maker Britannia Industries dropped 8.58 per cent after March-quarter results missed analysts' estimates.
A lowdown on markets today
01:30 pm
Sensex at 25,310, up 9.02 points
Nifty at 7,758, up 8.45 points
9:30 pm
Sensex at 25,431, up 129.98 points
Nifty at 7,786, up 36.30 points
(With inputs from agencies)
In a choppy trade on Monday, the S&P BSE Sensex pared all its early gains to settle the day 71 points lower, while the broader CNX Nifty ended below its key 7,750-mark.
The sentiment on the Street remained muted ahead of a deluge of corporate results and the expiry of derivative contracts this week.
The 30-share index ended the day at 25,230, down 71.54 points, while broad-based 50-share index quoted 7,731, down 18.65 points at close.
Market breadth remained weak for the day. A total of 2,759 stocks on BSE that traded for the day, 1,501 ended lower, 1,081 gained, while 177 remained unchanged.
Global stock markets were also a bit lacklustre as investors bet that the US Federal Reserve was on track to raise rates sooner rather than later.
But the domestic market will focus on corporate earnings, with Cipla, Tata Steel, Bharat Heavy Electricals Ltd and State Bank of India due to report earnings.
"We have F&O (futures and options) expiry and a whole host of large and mid-cap companies reporting this week and the next. My sense is that markets would be subdued and we may see bouts of short-selling depending upon how earnings are going to unfold," said Gaurang Shah, vice president at Geojit BNP Paribas.
ITC was the top gainer on both the headline indices after the FMCG major reported an increase of 5.67 per cent in standalone net profit at Rs 2,495.20 crore for the fourth quarter ended March 31.
Among other gainers, National Aluminium Co rose 3.58 per cent ahead of a board meeting on May 25 to consider share buyback.Power Grid Corp of India rose 2.63 per cent after the BSE and S&P Dow Jones Indices said on Friday that the stock would be added to the benchmark index from June 20.
However, biscuits maker Britannia Industries dropped 8.58 per cent after March-quarter results missed analysts' estimates.
A lowdown on markets today
01:30 pm
Sensex at 25,310, up 9.02 points
Nifty at 7,758, up 8.45 points
9:30 pm
Sensex at 25,431, up 129.98 points
Nifty at 7,786, up 36.30 points
(With inputs from agencies)