Sensex ends 136 pts down; realty, metals, cap goods plunge

Indian shares plummeted in last couple of hours of trade on Tuesday, erasing all morning gains due to weakness in capital goods, metals, banks, realty and FMCG stocks, and also on account of less hopes of encouraging numbers from rate sensitives.

Banks, real estate and capital goods, all three sectors are not likely to put really the encouraging numbers, says SP Tulsian, sptulsian.com. Infosys kicked off earnings season with reducing full year EPS and dollar revenues guidance last week and then the Reliance Industries posted in-line with expected numbers in the September quarter.

The 30-share BSE Sensex fell 135.85 points to close at 18,577.70 despite positive global cues. Meanwhile, the 50-share NSE Nifty lost 39.25 points to 5,648, which was the lowest level since September 20.

"Overall the weakness because of the lower results from all these sectors probably will keep the index weak till the expiry," he adds. The Nifty has been in a range of 5600-5800 since the day it hit 5800 level (on October 4).

The BSE Realty Index hit quite hard, losing 3 percent as Unitech, DLF and HDIL plunged 4-6 percent. Indiabulls Real was down 2 percent.

The BSE Metal and Capital Goods indices were down over 1.5 percent.

Shares of Sterlite Industries, Jindal Steel, Hindalco and Tata Steel plummeted 2-2.5 percent while capital goods majors Larsen & Toubro and BHEL fell nearly 2 percent.

Country's largest lenders State Bank of India and ICICI Bank were down 1-1.5 percent while their rival HDFC Bank declined 0.5 percent. But housing finance company HDFC rose 0.5 percent.

Software services exporter Infosys has been fallen for the third consecutive session following disappointing guidance for FY13 last Friday; the stock was down 0.5 percent. Its rival TCS rose 0.3 percent ahead of September quarter earnings on Friday.

Among auto stocks, utility vehicle maker Mahindra & Mahindra tumbled 3.66 percent. Commercial vehicle major Tata Motors lost 2.6 percent on weak global sales data in September.

Top car maker Maruti Suzuki rallied 2 percent as the company launched new Alto 800 today. Two-wheeler maker Hero Motocorp was up 1.7 percent.

Index heavyweight Reliance Industries lost 1.2 percent despite improvement in its core (refining) business QoQ.

Karnataka Bank closed off day's high. The stock rose 1.5 percent ahead of earnings tomorrow. Media reports said that the ICICI Bank is looking to buy the Karnataka Bank.

Liquor baron Vijay Mallya-led UB group's Kingfisher, United Spirits and UB Holdings gained 4-5 percent. Sources say the United Spirits and Diageo are likely to sign term-sheet in next 10 days. UB group may cede control of United Spirits to Diageo, sources add.

Yes Bank was down over 3 percent on block deals. Reliance Communications, Reliance Power, GVK Power and GMR Infrastructure, Shree Renuka were down 2-4 percent.

Declining shares outnumbered advancing by a ratio of 1699 to 1135 on the BSE.

On the global front, European markets like France's CAC, Germany's DAX and Britain's FTSE rose 0.6 percent each, with investors buoyed by the latest batch of US data and earnings and hopeful a meeting of European leaders later in the week can advance plans to tackle Spain and Greece's debts.

The BSE Sensex dropped more than 100 points due to further weakness in Reliance Industries and ICICI Bank. L&T, Tata Motors and SBI too were under pressure. Utility vehicle maker Mahindra & Mahindra crashed over 4 percent.

Metals stocks hit quite badly. The BSE Metal Index fell 1.6 percent as Jindal Steel, Hindalco Industries, Sterlite Industries and Tata Steel tumbled 2 percent each.

The 30-share BSE benchmark slipped 153.71 points to 18,560 and the 50-share NSE benchmark was down 48 points to 5,639.35.

Country's largest commercial vehicle maker Tata Motors lost 2.7 percent on weak global sales data. Global wholesales fell by 4% year-on-year to 1.03 lakh units amid declining demand for passenger vehicles in September. Even its UK subsidiary Jaguar & Land Rover's sales declined 4% to 26,461 units.

The Realty Index tanked 3 percent as DLF was down 4 percent and HDIL slid 6 percent. Infrastructure stocks like Reliance Infrastructure, GMR Infrastructure, Punj Lloyd and GVK Power were down 2-4 percent.

Engineering conglomerate Larsen & Toubro and power equipment maker BHEL lost 1.8 percent each. FMCG majors ITC and Hindustan Unilever went down 0.6-1.4 percent.

Index heavyweight Reliance Industries slipped 1 percent. Top lenders State Bank of India, HDFC Bank and ICICI Bank were down 0.6-1.4 percent.

Housing finance company HDFC and two-wheeler maker Hero Motocorp gained nearly 1 percent. Telecom operator Bharti Airtel and car maker Maruti Suzuki were up 1.2 percent and 1.7 percent, respectively.

The BSE Sensex and NSE Nifty gave off morning gains amid volatility, weighed down by capital goods, metals, oil & gas, banks and FMCG stocks. Commercial vehicle maker Tata Motors (after disappointing global sales data in September) and utility vehicle major Mahindra & Mahindra tanked over 2 percent.

The BSE benchmark lost 38 points to 18,675.40 and the NSE benchmark was down 10 points to 5,677.30.

Among metals stocks, Hindalco Industries, Sterlite Industries, Tata Steel and Jindal Steel were down 0.5-1 percent.

Oil & gas producers Reliance Industries and ONGC fell 0.5 percent each. Capital goods majors Larsen & Toubro and BHEL slipped 0.6-0.9 percent.

Private sector lender HDFC Bank declined 0.5 percent while its rival State Bank of India went down 0.3 percent.

Fast moving consumer goods major Hindustan Unilever dropped 1.4 percent and drug producer was down 1 percent.

Housing finance company HDFC rose 1 percent while top car maker Maruti gained 1.8 percent after launching new Alto 800 by the company today.

Telecom operator Bharti Airtel topped the buying list with 2.2 percent gains. Country's largest software services exporters TCS and Infosys gained 0.5 percent each.

On the global front, European markets gained 0.5 percent after Portugal revealed an austerity-focused budget and a report suggested Spain is ready to request a bailout.

Indian shares remained flat to positive despite upmove in European markets in early trade. FTSE was up 0.5 percent while Germany's DAX and France's CAC rose 0.75 percent each due to positive US retail sales data.

The 30-share BSE Sensex went up 33 points to 18,746.65 and the 50-share NSE Nifty was up 12 points at 5,699. Even the Indian rupee rose by 21 paise to 52.80 against the US dollar.

Country's largest car maker Maruti Suzuki rallied 2 percent as the company launched new Alto 800. The management said the company has received booking for over 10,000 new Alto cars.

Top telecom operator Bharti Airtel gained 2 percent while housing finance company HDFC, software services exporter TCS and state-owned power producer NTPC were up 1 percent each.

India's largest lenders State Bank of India and ICICI Bank were up 0.4 percent each while their rival HDFC Bank was down 0.2 percent.

Commercial vehicle maker Tata Motors tanked 1.7 percent on weak global sales data in September. FMCG major Hindustan Unilever fell 1.3 percent.

Shares of Reliance Industries, Mahindra & Mahindra, Cipla, Dr Reddy's Labs, BHEL and Hindalco were down 0.2-0.7 percent.

The BSE Midcap Index was up 0.5 percent while the Smallcap gained 0.7 percent. Advancing shares outnumbered declining by a ratio of 1473 to 1059 on the BSE.

Indian equity benchmarks continued to trade with marginal gains, helped by auto (barring Tata Motors), technology, telecom, banking & financial (except HDFC Bank) and steel stocks. Index heavyweight Reliance Industries fell 0.3 percent on profit booking after initial gains of over 1 percent due to second quarter numbers, which were in-line with expectations.

The 30-share BSE Sensex gained 29.26 points at 18,742.81 and the 50-share NSE Nifty rose 10 points to 5,697.

Top commercial vehicle maker Tata Motors remained under pressure, losing nearly 2 percent after dismal performance in September by the company. However, shares of Maruti, Hero Motocorp, Bajaj Auto and Mahindra & Mahindra moved up 0.3-1 percent.

FMCG major Hindustan Unilever fell 0.7 percent while cigarette major ITC gained 0.35 percent.

Telecom stocks like Bharti Airtel, Reliance Communications and Idea Cellular were up 0.6-1 percent. Housing finance company HDFC rose over 1 percent.

Country's largest software services exporters TCS and Infosys went up 0.9 percent and 0.4 percent, respectively.

Jain Irrigation went up 1 percent after the board of directors of the company have approved preferential issue of 4.97 crore shares at Rs 80/share and also approved raising of USD 40 million via FCCBs.

Karnataka Bank touched a 52-week high of Rs 127 today after media reports that the country's largest private sector lender ICICI Bank is looking to acquire the company. However, chairman of Karnataka Bank denied that report of stake sale to ICICI Bank.

Indian shares trimmed gains with the NSE benchmark trading below the 5700 level, weighed down by Tata Motors and HDFC Bank. ICICI Bank, SBI and Reliance Industries too pared its gains.

The BSE Sensex moved up 44 points to 18,757.73 and the NSE Nifty rose 13 points to 5,700.35. The Indian rupee appreciated 13 paise to 52.88 against the US dollar.

After the recent 400-500 points Nifty rally, the market has now slipped into a consolidation mode, Mehraboon Irani of Nirmal Bang Securities said in an interview to CNBC-TV18.

"The result seasons could be used as an excuse for the markets to consolidate. A time bound correction is also likely, but post that, the Nifty may attempt to go towards 6,000 levels," he added.

Index heavyweight Reliance Industries cut its gains to 0.4 percent from over a percent in early trade due to profit booking.

Country's third largest private sector lender Axis Bank remained strong with 2.5 percent gains following its second quarter earnings announced yesterday. The bank reported 22% year-on-year rise in its second quarter (July-September) net profit to Rs 1,124 crore, boosted by growth in loans and other income.

Top commercial vehicle maker Tata Motors fell 2.4 percent intraday after disappointing global sales data.

Private sector lender HDFC Bank declined 0.4 percent while its rivals State Bank of India and ICICI Bank were up 0.3 percent each.

Housing finance company HDFC rose 0.9 percent. Software services exporter TCS, telecom operator Bharti Airtel and top car maker Maruti Suzuki went up 1 percent each.

Oil & gas producers Reliance Industries and ONGC were up 0.4 percent each.

The broader markets gained over 0.4 percent as advancing shares outnumbered declining by a ratio of 815 to 424 on the BSE.

The NSE Nifty climbed above the 5700 level in early trade on Tuesday following positive cues from the US and in-line with expected second quarter numbers by Reliance Industries & Axis Bank.

The BSE benchmark rose 81.84 points to 18,795.39 and the NSE benchmark gained 24 points at 5,711.15.

Index heavyweight Reliance Industries gained 1 percent as an improvement in its core business aided profits of the company in the quarter ended September 2012.

Axis Bank gained nearly 3 percent after India's third largest private sector lender reported 22% year-on-year rise in its second quarter (July-September) net profit to Rs 1,124 crore, boosted by growth in loans and other income. .

Ranbaxy Labs, BHEL, JP Associates, Kotak Mahindra Bank, ICICI Bank, Tata Steel, L&T, Maruti, Hero Motocorp, SBI and ONGC led the market higher.

Tata Motors fell nearly 2 percent after a fall of 4 percent in its global wholesales and UK subsidiary Jaguar & Land Rover's sales YoY.

ITC, Bharti Airtel and Hindustan Unilever fell marginally in early trade.

The CNX Midcap Index moved up 0.5 percent or 39 paise to 7975 as about two shares advanced for every share declining on the National Stock Exchange.

In the second line shares, Jain Irrigation gained 1.4 percent as the board of directors have approved preferential issue of 4.97 crore shares at Rs 80 a share.

Yes Bank fell 3 percent after block deal.

Geojit BNP Paribas shot up 7.5 percent on strong numbers while CMC rose 2 percent following second quarter numbers.

United Sprits (USL) rose 2 percent as sources said USL and Diageo are likely to sign term-sheet in next 10 days and UB group may cede control of USL to Diageo.

Lanco Infratech, Suzlon Energy, Pantaloon Retail, Indiabulls Real, Shree Renuka, Bajaj Hindusthan and Balrampur Chini were up 0.7-1.5 percent.

A2Z Maintenance went down 5 percent. Adani Port & SEZ lost over 2 percent after The Times of India reported that the government cancelled Adani SEZ in Gujarat.

Karnataka Bank surged 4 percent as Indian Express reported that country's largest private sector lender ICICI Bank is looking to acquire the bank.