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Friday, 6 July 2012

Stock Market Update | Opt2Wealth Financials


Sensex falls 50 pts; SBI, ICICI, Tata Motors most active


Indian equity benchmarks continued to trade lower with marginal losses due to fall in Infosys and Reliance Industries. Larsen & Toubro, Bharti Airtel and State Bank of India too were down. However, the buying in ITC, HUL, ICICI Bank and HDFC has limited the downside.
The BSE benchmark was down 34.09 points at 17504.58 and the NSE benchmark declined 16.40 points to 5,310.90. The Indian rupee too retained its fall, depreciating by 53 paise to 55.47 against the US dollar.
Shares of Jindal Steel extended losses, falling 3.3% while Sterlite Industries, Hindalco and Tata Steel dropped 1-2%.
Engineering and construction major by sales Larsen & Toubro tanked 1.7% and top telecom operator Bharti Airtel fell 1%.
Oil & gas producers Reliance Industries and ONGC went down 0.7% each. Country's second largest software services exporter Infosys lost 1.4%.
Top lender SBI was down over 0.5% whereas its rival ICICI Bank gained over 1%.
FMCG majors ITC and HUL rallied 1% each. Housing finance company HDFC, utility vehicle maker M&M, largest mining company Coal India and drug maker Cipla rose 1% each.
In the second line shares, KSK Energy Ventures, Jai Corp, MCX India, Himadri Chemicals and Eros International rallied 3.5-10% whereas MindTree (will report earnings next week), Edelweiss Financial, Info Edge, HOEC and Phoenix Mills slipped 3.5-5%.
State Bank of India, ICICI Bank, HDFC Bank, Tata Motors, HDFC, United Spirits and JSW Holdings were most active shares.
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