Indian equities pared all its gains and fell into the negative terrain on the back of profit booking seen in index heavyweights. Oil & gas and PSU stocks gained, while capital goods and banking stocks declined.
At 2.06 p.m., the Sensex was trading down 1.92 points or 0.01% at 17,729.20 with 15 components falling. Meanwhile, the Nifty was trading lower by 0.05 points or 0.00% at 5,375.45 with 29 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 188.81 points or 1.06% at 17,919.93, while the broad based NSE Nifty started with a rise of 49.45 points or 0.92%, at 5,424.95.
Larsen & Toubro contributed fall of 30.56 points in the Sensex. It was followed by H D F C Bank (29.88 points), Tata Motors (7.33 points), Tata Consultancy Services (6.31 points) and I C I C I Bank (5.49 points).
However, Reliance Industries contributed rise of 39.78 points in the Sensex. It was followed by Oil & Natural Gas Corporation (20.61 points), Tata Power Company (7.23 points), Bharti Airtel (6.95 points) and Infosys (6.16 points).
Major gainers in the 30-share index were Oil & Natural Gas Corporation (3.54%), Tata Power Company (3.21%), Reliance Industries (2.25%), Bharat Heavy Electricals (1.77%), Sterlite Industries (India) (1.45%), and Bharti Airtel (1.28%).
On the other hand, Larsen & Toubro (3.44%), Jindal Steel & Power (2.72%), H D F C Bank (2.55%), Maruti Suzuki India (1.38%), Tata Motors (1.32%), and G A I L (India) (1.04%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.21% and 0.12% respectively.
The major gainers in the BSE Midcap were Alfa-Laval (India) (1.11%), Alstom Projects India (1.1%), Aban Offshore (0.71%), A I A Engineering (0.54%) and Allcargo Logistics (0.29%).
The major gainers in the BSE Smallcap were Adhunik Metaliks (6.16%), Aarti Industries (4.55%), A B G Infralogistics (3.48%), Aanjaneya Lifecare (2.38%) and Trident (0.18%).
Sectors in Limelight
The Oil & Gas index was at 8,664.28, up by 167.15 points or by 1.97%. The major gainers were Hindustan Petroleum Corporation (1.45%), Bharat Petroleum Corporation (1.41%), Gujarat State Petronet (1.05%), Oil India (0.94%) and Indian Oil Corporation (0.64%).
The PSU index was at 7,732.46, up by 83.59 points or by 1.09%. The major gainers were Andhra Bank(3.14%), Bharat Electronics (3.06%), Bharat Heavy Electricals (1.77%), Bharat Petroleum Corporation (1.41%) and Allahabad Bank (1.4%).
The IPO index was at 1,534.83, up by 6.27 points or by 0.41%. The major gainers were ARSS Infrastructure Projects (1.99%), Coal India (0.77%), Career Point (0.74%), Aqua Logistics (0.64%) and Ashoka Buildcon (0.39%).
On the other hand, the Capital Goods index was at 10,440.50, down by 154.5 points or by 1.46%. The major losers were Larsen & Toubro (3.44%), BEML (1.33%), Crompton Greaves (0.73%), Lakshmi Machine Works (0.37%) and Pipavav Defence and Offshore Engineering Company (0.26%).
Market breadth was negative with 1,388 advances against 1,467 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,442.10 million. It was followed by Housing Development and Infrastructure (Rs. 688.00 million), Larsen & Toubro (Rs. 603.17 million) and BGR Energy Systems (Rs. 519.86 million).
The volume chart was led by Lanco Infratech with trades of over 11.65 million shares. It was followed by GVK Power & Infrastructure (7.27 million), I F C I (6.96 million) and Housing Development and Infrastructure (6.09 million).