The market continued to see marginal selling pressure in morning trade. The Sensex fell 46.12 points to 27350.26 and the Nifty slipped 18.40 points to 8267.20, dragged by technology stocks, and HDFC & ITC. The BSE Midcap and Smallcap indices outperformed benchmarks, rising 0.2 percent and 0.9 percent, respectively. About 1150 shares have advanced, 570 shares declined, and 120 shares are unchanged on the BSE. Shares of HDFC, ITC, TCS, Tata Motors and Vedanta fell 1-2 percent followed by SBI, Infosys, M&M and Bharti Airtel with marginal losses. However, Axis Bank topped the buying list on Sensex, up over 2 percent ahead of Q4 earnings.
The FMCG and IT sectors are continuing their recent weakness, while the pharma sector is seeing buying interest this morning.
In the FMCG space, ITC and United Spirits have shed between 1% and 2% each; Hindustan Unilever is, however, bucking the weak trend and has gained 1% at Rs 867.
In the IT space, Infosys and TCS have shed between half a percent and 1% each. On the other hand, the pharma space is in good health this morning. Wockhardt has soared by more than 3% at Rs 1282 after nose-diving by around 25% in the past two sessions, in a case of bottom fishing post the fall.
Telecom shares are trading lower post their March quarter earnings. Bharti Airtel has shed 0.9% at Rs 398 despite reporting a 30.5% growth in net profit at Rs 1,255 crore for the quarter ended March this year, owing to growth in data revenue.
Idea Cellular is also trading flat, with a negative bias, at Rs 191 after its consolidated profit after tax increased 60% to Rs 942crore for the fourth quarter ended March 2015 against Rs 589.8 crore for the same quarter March 2014.
In the FMCG space, ITC and United Spirits have shed between 1% and 2% each; Hindustan Unilever is, however, bucking the weak trend and has gained 1% at Rs 867.
In the IT space, Infosys and TCS have shed between half a percent and 1% each. On the other hand, the pharma space is in good health this morning. Wockhardt has soared by more than 3% at Rs 1282 after nose-diving by around 25% in the past two sessions, in a case of bottom fishing post the fall.
Telecom shares are trading lower post their March quarter earnings. Bharti Airtel has shed 0.9% at Rs 398 despite reporting a 30.5% growth in net profit at Rs 1,255 crore for the quarter ended March this year, owing to growth in data revenue.
Idea Cellular is also trading flat, with a negative bias, at Rs 191 after its consolidated profit after tax increased 60% to Rs 942crore for the fourth quarter ended March 2015 against Rs 589.8 crore for the same quarter March 2014.
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