After a lot of struggle, a late surge helped market to end with some smart gains. The Sensex ended up 99.96 points or 0.4 percent at 26686.51, and the Nifty was up 33.40 points or 0.4 percent at 8047.30. About 1289 shares have advanced, 1336 shares declined, and 176 shares are unchanged. Bajaj Auto, Tata Power, SBI, HUL and NTPC were lead gainers while Vedanta, Dr Reddy's, Tata Steel, HDFC and GAIL were laggards.
Tata Power, Bajaj Auto, Hero MotoCorp, NTPC and SBI are top gainers in the Sensex. Among the losers are Vedanta, HDFC, Dr Reddy''s Labs, BHEL and Tata Steel.
HDFC and Vedanta extended losses, down 2.5 percent followed by Axis Bank, Dr Reddy's Labs, BHEL and Tata Steel with 1.4-1.8 percent loss. Reliance Industries, ICICI Bank, HDFC Bank, L&T, ITC and Tata Motors slipped more than 0.5 percent. However, Tata Power bucked the trend, up 1.5 percent.
The rupee is trading at 64.21 on the back of to fresh capital outflows and strengthening of dollar amid weakness in local equities.All sectoral indices are trading in the negative territory with BSE Oil & gas, Capital Goods, Metal,Realty indices trading lower up to 1%. However, BSE Bankex, Consumer Durables, Power indices are trading higher by 0.6% each.
A broad based sell-off is evident among the metal stocks across the bourses as Chinese demand failed to pick up yet despite stimulus measures by the biggest consumer. Vedanta, Tata Steel, Jindal Steel are down between 1-2%.
HDFC has reported 12% increase in its advance tax outgo to Rs 465 crore for the first quarter of the current fiscal. The stock is trading lower by 2%.
The Mahindra Group has clinched a multi-million dollar aerospace contract with European consortium Airbus at the Paris Air Show, marking a major milestone in the Make-in-India initiative. The stock is up 0.5%.
Shares of oil marketing companies (OMCs) were in focus and trading higher on the bourses in otherwise subdued market after these companies announced Rs 0.64 a litre increase in petrol prices and a Rs 1.35 per litre cut in diesel prices to align the domestic rates with global price benchmarks. HPCL and IOC are up 2%.
Power tariff in Delhi hiked by up to 6% by the Delhi Electricity Regulatory Commission (DERC) as it restored a surcharge to compensate the private electricity distribution companies for rise in power purchase cost. Tracking the development Tata Power is trading higher by 2.5%.
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