Indian equities on Tuesday ended the special 75-minute Muhurat trading session on a lower note. IT, banking and consumer durables stocks traded lower, while oil & gas, FMCG and metal gained.
The markets started off the Muhurat trade in green but soon slipped into red due to weak global peers.
At the close, the benchmark 30-share index, BSE Sensex lost 51.47 points or 0.28% at 18,618.87 with 19 components posting drop. Meanwhile, the broad based NSE Nifty went down by 16.75 points or 0.29% at 5,666.95 with 39 components registering drop.
Motilal Oswal, CMD, Motilal Oswal Financial Services on the occasion of Mahurat Trading said,''I am personally optimistic about the coming year. I think market will give better returns this year compared to last year. Market may touch all time high provided we see RBI going for the rate cuts and the government continues its action on the policy front. Banking, auto, FMCG and pharma sectors would do well. Small and midcaps will outperform the large caps.''
Housing Development Finance Corporation contributed fall of 18.25 points in the Sensex. It was followed by Infosys (12.14 points), H D F C Bank (6.96 points), Tata Motors (6.85 points) and Tata Consultancy Services (6.27 points).
However, Reliance Industries contributed rise of 5.74 points in the Sensex. It was followed by Bharti Airtel (4.77 points), Oil & Natural Gas Corporation (3.79 points), Reliance Communications (2.21 points) and Tata Steel (1.79 points).
Major gainers in the 30-share index were Bharti Airtel (1.14%), Tata Steel (0.56%), Oil & Natural Gas Corporation (0.55%), Cipla (0.52%), Maruti Suzuki India (0.51%), and Hindalco Industries (0.44%).
On the other hand, Housing Development Finance Corporation (1.33%), Dr Reddy's Laboratories (1.18%), Tata Motors (1.18%), Infosys (0.91%), State Bank Of India (0.85%), and Tata Consultancy Services (0.69%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.61% and 1.25% respectively.
The major gainers in the BSE Midcap were Aban Offshore (1.61%), Alstom India (1.21%), Amtek Auto (1.19%), Allcargo Logistics (0.7%) and CORE Education and Technologies (0.32%).
The major gainers in the BSE Smallcap were Aanjaneya Lifecare (5.55%), Trident (5.07%), Action Construction Equipment (1.96%), Styrolution ABS (India) (0.79%) and A2Z Maintenance & Engineering Services (0.42%).
Sectors in Limelight
The IT index was at 5,738.52, down by 48.63 points or by 0.84%. The major losers were Mphasis (1.67%), H C L Technologies (1.05%), Infosys (0.91%), Tata Consultancy Services (0.69%) and Tech Mahindra (0.15%).
The Realty index was at 1,907.78, down by 14.24 points or by 0.74%. The major losers were Housing Development and Infrastructure (2.94%), Indiabulls Real Estate (2.88%), D L F (1.77%), Prestige Estates Projects (0.4%) and Phoenix Mills (0.14%).
The Bankex index was at 13,224.49, down by 86.5 points or by 0.65%. The major losers were Canara Bank(1.11%), Bank Of Baroda (0.73%), H D F C Bank (0.49%), Bank Of India (0.37%) and I C I C I Bank (0.09%).
On the other hand, the IPO index was at 1,862.45, up by 86.95 points or by 4.90%. The major gainers were Aanjaneya Lifecare (5.55%), Ashoka Buildcon (5.32%), Birla Pacific Medspa (4.6%), Bedmutha Industries (0.86%) and A2Z Maintenance & Engineering Services (0.42%).
Market breadth was positive with 1,862 advances against 816 declines.
Value and Volume Toppers
L&T Finance Holdings topped the value chart on the BSE with a turnover of Rs. 1,531.02 million. It was followed by United Spirits (Rs. 970.65 million), United Breweries (Rs. 852.58 million) and D B Realty (Rs. 281.69 million).
The volume chart was led by L&T Finance Holdings with trades of over 18.45 million shares. It was followed by Kingfisher Airlines (6.05 million), Cals Refineries (5.96 million) and TV18 Broadcast (4.79 million).