The market started consolidation after a rally in past three consecutive sessions. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap rising 0.7 percent and 0.3 percent, respectively.
The Sensex fell 7.74 points to 24599.25 and the Nifty declined 10.05 points to 7465.55. HDFC Bank, Sun Pharma, Adani Ports and Bharti Airtel declined more than 1 percent on profit booking while Tata Motors and ONGC continued their lead today as well, rising 3 percent each. ICICI Bank, Dr Reddy's Labs, Cipla and Coal India gained 1-2 percent.
HMT shot up 16.5 percent followed by Kaveri Seed, Eros International, Chennai Petroleum and Shipping Corporation with 5-13 percent upside while KPIT Technologies, Cox & Kings, IIFL Holdings, Hathway Cable and MphasiS were down 2-4 percent among midcaps.
Buzzing:
Shares of Minda Industries gained nearly 11 percent intraday on acquisition of automobile lighting business of a company based in Spain.
Asian equities are trading largely in green as participants remain cautious ahead of the US employment report due to be slated today amid volatility in crude oil prices. Japan’s Nikkei, Singapore’s Straits Times, Hong Kong’s Hang Seng are up 0.3%-1.3%. However, China’s Shanghai Composite is down 0.4%.
Reliance Industries is set to miss its deadline for re-opening all 1,400 retail fuel outlets by March-end. The stock is trading 0.5% lower.
HDFC will raise Rs 1,000 crore by issuing non-convertible debentures, to cater to its housing finance business needs. The stock is down 1%.
Mahindra and Mahindra Financial Services (MMFSL) plans to raise up to Rs 2,000 crore through a mix of retail bonds and commercial paper (CP) for business expansion. However, the stock has lost over 1%.
Yes Bank has acquired 5% stake in corporate governance and proxy advisory firm Institutional Investor Advisory Services (IiAS). YES Bank is dow 1%.
Car maker Tata Motors extends gains on the back of good JLR sales numbers and is trading 2% higher.
Dr Reddy's Lab is trading 1% higher after the pharma major received the US Food and Drug Administration (FDA) approval to launch Aloxi generics.
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