Market snaps 5-day losing streak led by realty, banking and metal
At close, the Sensex was up 498.58 points or 0.64% at 78,540.17, and the Nifty was up 165.95 points or 0.70% at 23,753.45.
It is turning into a bit of a `nothing' day on equity markets on Thursday as indices remain flat due to the want of trading cues. Equity markets in Europe gave no direction and index futures for the US market were aimless as well. Stocks that reported earnings — Axis Bank and Yes Bank — came under marginal selling pressure once the news was out.
The Nifty was up just 2 points to trade at 8,419 points, still near its highest since November 11. The index remained in a tight, narrow band. The Sensex added 25 points to 27,282 points on the Bombay Stock Exchange.
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Here are the major trading events of the day so far:
* Tata Motors, GAIL, Idea, BPCL and Bharti Airtel rose 2.4-3.2 percent and were among 20 shares advancing on the Nifty.
* UltraTech Cement, Wipro, Asian Paints and Cipla and Aurobindo Pharma fell 0.9-1.3 percent and were among 29 losers on the Nifty.
* Private lenders Yes Bank and Axis Bank were the top traded stocks by value post earnings. Tata Elxsi, Tata Motors and Infosys were also present on this list.
* JP Associates, Federal Bank and Sintex saw frenetic trade with heavy volumes coming in early on these stocks.
* Broader market indices traded unchanged as investors remained fence sitters in the early part of the trading session.
* The sectoral space was mostly in the red with mild profit booking seen on benchmarks tracking the software, metals, media, pharma, banks and realty sectors. Mild gains were seen on the FMCG sector and on auto stocks.
* Indigo Airlines, Bajaj Finserv, Indian Oil, Britannia and Castrol were in modest uptrends in early deals.
* Stocks that were under selling pressure were Emami, NHPC, Bajaj Finance, Siemens and Oil India Ltd.
* Futures of Tata Motors, Yes Bank and Tata Steel were the most active in the derivatives market
* Overall, the bulls retained their slight edge in the broader markets where 823 shares rose versus 751 that declined.
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