Sensex Today | All sectors ended the special trading session in the green, with capital goods, PSUs, industrials and media leading from the up. Metals, PSU banks, pharma and realty also posted decent gains.
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All the sectoral indices ended in the red with Nifty PSU Bank index fell nearly 4 percent. BSE Midcap and Smallcap indices shed 2 percent each.
SUMMARY
BHEL, Hero Motocorp, ONGC, Axis Bank, Cipla, Bharti Infratel and Power Grid Corp were early gainers while Tata Motors, Bharti Airtel, Tech Mahindra, Idea Cellular, UltraTech Cement and M&M were under pressure.
Auto stocks were in focus as they started announcing February sales data. Maruti Suzuki shares gained half a percent after reporting 10.9 percent growth in February sales year-on-year while Eicher Motors too gained over half a percent as Royal Enfield sales increased 19 percent in the month gone by.
BHEL, Hero Motocorp, ONGC, Axis Bank, Cipla, Bharti Infratel and Power Grid Corp were early gainers while Tata Motors, Bharti Airtel, Tech Mahindra, Idea Cellular, UltraTech Cement and M&M were under pressure.
Auto stocks were under pressure ahead of February sales figures that will be announced on March 1. Bajaj Auto and Hero Motocorp fell 1-1.5 percent. Tata Motors and Maruti Suzuki declined 0.25-0.5 percent.
Experts expect consolidation to continue but don't see major correction in near term. After more or less stable earnings from banks, the market will closely watch third quarter earnings of SBI & Bank of Baroda, country's largest public sector lenders, on Friday.
TCS, HCL Technologies, Tech Mahindra, ITC, M&M and Bharti Infratel rallied 1-2 percent. Tata Steel, Cipla, PNB and L&T were down 1-3.5 percent.
SBI, Adani Ports, ONGC, BHEL and Axis Bank are top gainers while Infosys, Bharti, ICICI Bank, NTPC and Coal India are losers.
Dalal Street caught in bear grip as equity benchmarks fell more than 1 percent and the broader markets shed more than 2 percent. Nifty Auto and Bank indices were down 2 percent each while Realty plunged 4 percent.
The Reserve Bank of India (RBI) is meeting for its bi-monthly monetary policy review for the first time this fiscal. Catch live updates here.
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The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices rising 0.5-0.8 percent.
Reliance Industries, Lupin, Tata Motors, HUL and ONGC were top gainers on the Sensex, up more than 2 percent followed by HDFC with 1.6 percent gain. ICICI Bank, Wipro and NTPC fell more than 1 percent.
The market is still under pressure as all eyes are on the FOMC tonight. The Sensex is down 20.34 points at 25130 and the Nifty is down 12.80 points at 7637.25. About 1221 shares have advanced, 812 shares declined, and 133 shares are unchanged.
Reliance Industries and Hindustan Unilever topped the buying list on Sensex, up more than 1.5 percent. ITC, Sun Pharma and ONGC gained 0.5-1 percent while ICICI Bank, Tata Motors, SBI, Wipro and BHEL fell 1-2 percent.
Sun Pharma, Hindalco, Tata Steel, Coal India and Maruti are top gainers while Cipla, ICICI Bank, ITC, HDFC Bank and Tata Motors are down in the Sensex.