Sensex ends flat; M&M, HDFC rally, JP Associates loses

Indian equities closed flat after hovering around their previous closing values in the second half of trade on Tuesday. Although the market has been in a consolidation mode, it has been breaking the range at lower end first it broke the 5700 level on November 9 on closing basis and then 5600 level on November 16.

The 30-share BSE Sensex gained more than 100 points in early trade today on hopes of US fiscal deal. However, it immediately came off day's high and then in last couple of hours of trade, the index erased all its gains amid negative European cues. The BSE benchmark fell 9.68 points to close at 18,329.32 while the 50-share NSE Nifty rose just 0.15 point to 5,571.55.

Market Expert Ambareesh Baliga feels people are extremely cautious at this point of time especially because of the winter session of Parliament.

Utility vehicle maker Mahindra & Mahindra surged 3.25 percent on expectations that the company may report good sales numbers in November due to Diwali festival. Its passenger vehicles segment performed very well in October. Experts feel that would continue in November too.

HDFC pack remained supportive. Housing finance company HDFC rose 2 percent and private sector lender HDFC Bank gained 0.67 percent.

Software exporter majors TCS and Wipro climbed 1 percent whereas their rival Infosys lost 1.5 percent.

Commercial vehicle maker Tata Motors was up 0.8 percent whereas two-wheeler majors Hero Motocorp and Bajaj Auto dropped 1 percent.

Private power producer Tata Power gained 1.8 percent.

Metals stocks like Jindal Steel, Hindalco, Sterlite and Tata Steel were down0.9-1.9 percent.

Shares of Larsen & Toubro, Reliance Industries, ITC, State Bank of India and ONGC declined 0.6-1.3 percent.

Diversified conglomerate Jaiprakash Associates tumbled 3.65 percent and realty major DLF slipped 2.37 percent.

The broader markets saw selling pressure today. The BSE Midcap lost 0.8 percent and Smallcap fell 0.9 percent.

Declining shares outnumbered advancing by a ratio of 1813 to 985 on the Bombay Stock Exchange.

Reliance Communications plunged over 5 percent.

In the second line shares, infrastructure stocks saw downward journey. IRB Infra, IVRCL, IRB Infra, NCC and GMR Infra plummeted 2-3 percent.

Jewellery stocks were in bull grip. Vaibhav Gems rallied 19 percent while TBZ, Gitanjali Gems and Goenka Diamond gained 3-5.5 percent.

European markets were marginally down (at 15:35 hours IST) as Moody's cut France's government debt rating to Aa1 and kept its negative outlook, citing the country's uncertain fiscal outlook and deteriorating economic prospects.

Indian equity benchmarks erased all its gains, weighed down by further fall in Infosys and State Bank of India that dropped nearly 1.5 percent. Reliance Industries and ONGC too extended losses, losing 0.57 percent each. However, utility vehicle maker Mahindra and Mahindra (M&M) bucked the trend, rising 2.6 percent on expectations of good sales numbers in November.

M&M total automotive sales in October rose 29 percent year-on-year, to 53,438 units, its highest ever monthly sales, helped by strong demand for its passenger vehicles. Auto analysts feel the company may report good sales numbers in passenger vehicles segment due to Diwali festival.

The 30-share BSE Sensex declined 23 points to 18,315.86 while the 50-share NSE Nifty lost 6 points to 5,565.60.

Country's largest two-wheeler makers Hero Motocorp and Bajaj Auto dropped 1 percent each. Pharmaceutical majors Sun Pharma, Dr Reddy's Labs and Cipla were down nearly 1 percent.

Cigarette major ITC, private sector lender ICICI Bank, telecom operator Bharti Airtel and engineering conglomerate Larsen & Toubro slipped 0.3-0.75 percent.

Housing finance company HDFC advanced 2 percent while lender HDFC Bank gained 0.6 percent.

Private power producer Tata Power and software services exporter Wipro were up 1.5 percent and 1.3 percent, respectively.

The Indian rupee, which gained more than 15 paise, fell 1 paise to 55.07 against the US dollar.

The market breadth worsened further; about two shares declined for every one share advancing on the National Stock Exchange.

The BSE Sensex continued to trade with marginal gains amid volatility on Tuesday as investors were in wait-and-watch mode ahead of the winter session of Parliament.

The BSE benchmark was up 33 points to 18,371.96, supported by HDFC and Tata groups' stocks. However, banks, two-wheeler, capital goods and oil & gas exploration stocks remained under pressure. Meanwhile, the NSE benchmark rose 11.65 points to 5,583.05.

Two-wheeler major Hero Motocorp was down 0.8 percent while its rival Bajaj Auto fell 1 percent on profit booking.

Infosys, country's second largest software services exporter declined 1 percent whereas its rivals TCS and Wipro moved up 0.5 percent and 1.5 percent, respectively.

Public sector lender State Bank of India lost 0.86 percent and private sector lender ICICI Bank was down just 0.24 percent.

Engineering conglomerate Larsen & Toubro and private oil & gas producer Reliance Industries were marginally down.

Housing finance company HDFC remained in bull grip, gaining 2.4 percent while auto stocks like Mahindra & Mahindra, Tata Motors and Maruti were up 0.3-1.4 percent.

Indian equities were flat to positive after losing early gains, helped by FMCG, auto, metals, power stocks and HDFC pack. Auto stocks continued to see buying interest ahead of good sales numbers expected in November due to Diwali festival.

The 30-share BSE Sensex rose 68 points to 18,406.72 and the 50-share NSE Nifty moved up 21.50 points to 5,592.90.

Mahindra & Mahindra rallied 1.6 percent while Tata Motors gained 0.8 percent. Maruti Suzuki went up 0.3 percent whereas two-wheeler majors Hero Motocorp and Bajaj Auto fell 0.6-0.8 percent on profit booking.

United Spirits, SBI, Bharti Airtel, HDFC, L&T Finance, Zylog Systems and Eicher Motors were most active shares on exchanges.

The Diageo's open offer to United Spirits' shareholders will be opened on January 7 and closed on January 18. The open offer price has fixed Rs 1440 per share by the Diageo, which announced an open offer to acquire a 26 percent stake in the United Spirits. The open offer price is quite low compared to current market price of Rs 1,785.

L&T Finance Holdings extended losses for the second consecutive session today, falling 3.6 percent. Yesterday it shed 10 percent on profit booking after rising over 40 percent in last 15 days.

Housing finance company HDFC retained its top position in the buying list, rising over 2 percent. FMCG majors ITC and HUL gained 0.6 percent each.

Private sector lender HDFC Bank climbed 0.6 percent whereas its rivals ICICI Bank and State Bank of India were down 0.4-0.5 percent.

Software exporter major Infosys lost nearly 2 percent while its rival Wipro gained 1 percent.

In the second line shares, Financial Tech, City Union Bank, Amtek India, MCX India and Gitanjali Gems gained 3-4.5 percent whereas Honeywell Automation, Welspun Corp, HT Media, Graphite India and IRB Infra lost 2-5 percent.

The market breadth continued to stay in favour of advances since early trade. About 1235 shares advanced while 1087 shares declined on the Bombay Stock Exchange.

Indian equity benchmarks pared early losses due to weakness in India's largest lenders State Bank of India and ICICI Bank that fell 0.4-0.6 percent. However, HDFC pack was quite supportive. Housing finance company HDFC surged 2 percent and private sector lender HDFC Bank rose 0.8 percent.

The 30-share BSE Sensex gained 49 points to 18,387.76 and the 50-share NSE Nifty went up 16 points to 5,587.20. The broader markets too were in-line with benchmarks in gains.

Experts feel the market is cautious ahead of the winter session of Parliament. Sandeep Shah, CEO, Sampriti Capital thinks that the Nifty may sink to 5200-5400 .

Software services exporter Infosys went down nearly 1 percent whereas its rival TCS gained 0.9 percent.

Drug producer Sun Pharma fell 0.75 percent. Oil & gas producers Reliance Industries and ONGC erased all their early losses, falling marginally.

Two-wheeler majors Hero Motocorp and Bajaj Auto dropped 0.7-1 percent while commercial vehicle maker Tata Motors surged 1.5 percent. Utility vehicle major Mahindra & Mahindra remained on buyers' radar, rising 0.8 percent.

State-controlled power equipment manufacturer BHEL and engineering conglomerate Larsen & Toubro were up 0.3 percent.

The BSE Sensex gained more than 125 points and even the NSE Nifty reclaimed the 5600 level in early trade on Tuesday following positive cues from the US. However, the market immediately trimmed some losses due to profit booking.

The 30-share BSE benchmark moved up 86.27 points to 18,425.27 and the 50-share NSE benchmark was up 28.65 points to 5,600.05.

Asian markets barring Shanghai too were trading higher. Yesterday the US equity markets ended 1.7-2.2 percent higher on hopes that the US lawmakers will reach a deal to avert USD 600 billion in tax increases and spending cuts due to start in January - the "fiscal cliff" that threatens to send the US economy back into recession.

On the Europe front, prospects that Greece will get a lifeline to stay solvent also helped boost markets, but the euro zone's debt crisis saw Moody's cut France's government bond rating to Aa1 and kept its negative outlook, citing the country's uncertain fiscal outlook and deteriorating economic prospects.

Back home, housing finance company HDFC and commercial vehicle maker Tata Motors jumped 2 percent.

Country's largest lenders State Bank of India and ICICI Bank gained over 0.6 percent. Engineering conglomerate Larsen & Toubro and power equipment maker BHEL were up 0.6-0.8 percent.

Software services exporter TCS was up 0.8 percent whereas its rival Infosys fell 0.8 percent.

Top telecom operator Bharti Airtel snapped five-day winning streak, losing 0.5 percent on profit booking.

The broader markets, which saw sell-off yesterday, bounced back too today. The CNX Midcap Index moved up 47 points to 7,822.

In the second line shares, Reliance Capital gained 2.5 percent as the company is in talks to sell 26 percent stake in general insurance arm. Even it is open to sell further stake in life insurance and mutual fund units.

SREI Infrastructure rose 2.5 percent, continuing the uptrend since last week after the company is planning to raise USD 500 million from its infrastructure debt fund.

ILandFS Transportation went up 2.6 percent as media reports suggest that JPMorgan has invested Rs 530 crore in special purpose vehicle (SPV) floated by the company. ILandFS Engineering was up 4 percent.

Polaris climbed 2 percent on reports of likely stake sale in subsidiary.

TBZ surged 3.7 percent. Jubilant Foodworks was up 2.6 percent. SKS Microfinance rallied 5 percent.