Sensex lackluster; HDFC Bank, Bharti, NTPC, ITC down
MUMBAI: The Sensex was witnessing a lackluster session with negative bias on Monday in the absence of fresh buying interest after a four-day rally. Gains in realty, metals and power were offset by losses in banks,FMCG and IT sectors.
According to analysts, the market is expected to consolidate in the short term and may continue upward movement later this month.
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"Momentum has emphatically rolled up in favour of bulls with daily MACD back in the positive territory. Short-term indicators are a bit over-heated and could result in some sideways consolidation. As we enter the seasonally bullish month of December, we recommend riding this up-wave with stop-loss trailed aggressively to 5,750 level," said an EdelweissBSE -3.87 % report.
At 01:00 pm, the 30-share index was at 19,321.84, down 18.06 points or 0.09 per cent. The index touched a high of 19,416.45 and a low of 19,273.03 in trade today.
The Nifty was at 5,878.40, down 1.45 points or 0.02 per cent. It touched a high of 5,899.15 and a low of 5,859.70 in trade today.
The BSE Midcap Index was up 1.16 per cent and the BSE Smallcap Index gained 0.99 per cent.
Among the sectoral indices, the BSE Realty Index was up 1.52 per cent, the BSE Metal Index moved 0.99 per cent higher and the BSE Power Index gained 0.65 per cent. The BSE Bankex declined 0.43 per cent and the BSE FMCG Index edged 0.11 per cent lower.
HDFC BankBSE -2.30 % (1.94 per cent), Bharti AirtelBSE -1.82 % (1.04 per cent), NTPCBSE -0.96 % (0.83 per cent), HDFC (0.77 per cent) and ITCBSE -0.59 % (0.72 per cent) were among the losers pack.
Jindal SteelBSE 0.96 % (1.99 per cent), BHELBSE 1.41 % (1.97 per cent), Tata SteelBSE 1.43 % (1.71 per cent), M&M (1.50 per cent) and Maruti SuzukiBSE 1.11 % (1.46 per cent) were among the gainers pack.
Mahindra & Mahindra Ltd surged over 2 per cent in opening trade on Monday to hit its 52-week high of Rs 961.60 after the company reported an 18 per cent rise in auto sales at 48143 units during November 2012 against 40722 units during November 2011.
The foreign institutional investors bought shares worth Rs 1,611.43 crore on Friday as per the provisional data from the National Stock Exchange.
According to analysts, the market is expected to consolidate in the short term and may continue upward movement later this month.
(Check out our Facebook page for more market news)
"Momentum has emphatically rolled up in favour of bulls with daily MACD back in the positive territory. Short-term indicators are a bit over-heated and could result in some sideways consolidation. As we enter the seasonally bullish month of December, we recommend riding this up-wave with stop-loss trailed aggressively to 5,750 level," said an EdelweissBSE -3.87 % report.
At 01:00 pm, the 30-share index was at 19,321.84, down 18.06 points or 0.09 per cent. The index touched a high of 19,416.45 and a low of 19,273.03 in trade today.
The Nifty was at 5,878.40, down 1.45 points or 0.02 per cent. It touched a high of 5,899.15 and a low of 5,859.70 in trade today.
The BSE Midcap Index was up 1.16 per cent and the BSE Smallcap Index gained 0.99 per cent.
Among the sectoral indices, the BSE Realty Index was up 1.52 per cent, the BSE Metal Index moved 0.99 per cent higher and the BSE Power Index gained 0.65 per cent. The BSE Bankex declined 0.43 per cent and the BSE FMCG Index edged 0.11 per cent lower.
HDFC BankBSE -2.30 % (1.94 per cent), Bharti AirtelBSE -1.82 % (1.04 per cent), NTPCBSE -0.96 % (0.83 per cent), HDFC (0.77 per cent) and ITCBSE -0.59 % (0.72 per cent) were among the losers pack.
Jindal SteelBSE 0.96 % (1.99 per cent), BHELBSE 1.41 % (1.97 per cent), Tata SteelBSE 1.43 % (1.71 per cent), M&M (1.50 per cent) and Maruti SuzukiBSE 1.11 % (1.46 per cent) were among the gainers pack.
Mahindra & Mahindra Ltd surged over 2 per cent in opening trade on Monday to hit its 52-week high of Rs 961.60 after the company reported an 18 per cent rise in auto sales at 48143 units during November 2012 against 40722 units during November 2011.
The foreign institutional investors bought shares worth Rs 1,611.43 crore on Friday as per the provisional data from the National Stock Exchange.
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