Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
07 May, 2015 03:17 IST

Source: rss | 07-May-15
Comments  |  Post Comment

Indian equities are reeling under pressure today following sharp correction in IT stocks after Infosys issued weak revenue guidance for financial year 2014. However, FMCG and oil & gas stocks outperformed. 

At 14.24 pm, the Sensex was trading down 312.88 points or 1.69% at 18,229.32 with 14 components falling. Meanwhile, the Nifty was trading lower by 67.05 points or 1.20% at 5,526.95 with 19 components falling.

Infosys expects 2013-14 revenue to grow 6-10%, lower than market expectations of 12%. It said the global economic uncertainties remain challenging for the industry. 

Sensex Movers

Biggest gainers in the 30-share index were I T C (2.84%), Hindalco Industries (2.77%), State Bank Of India (1.37%), Hindustan Unilever (1.33%), Bajaj Auto (1.11%), and Tata Power Company (0.85%).

On the other hand, Infosys (21.01%), Wipro (5.49%), Mahindra & Mahindra (1.46%), Tata Consultancy Services (1.45%), and Tata Motors (1.13%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts declining-0.12% and -0.38% respectively.

The major losers in the BSE Midcap were CORE Education and Technologies (2.41%), Amara Raja Batteries (2.4%), Amtek Auto (0.31%), A B G Shipyard (0.22%) and Allcargo Logistics (0.04%).

The major losers in the BSE Smallcap were Aanjaneya Lifecare (4.97%), A2Z Maintenance & Engineering Services (3.76%), Styrolution ABS (India) (3.28%), Action Construction Equipment (2.65%) and Trident (0.11%).

Sectors in Limelight

The IT index was at 6,063.35, down by 730.85 points or by 10.76%. The major losers were Infosys (21.01%), Hexaware Technologies (2.21%), Mphasis (1.87%), H C L Technologies (1.73%) and Oracle Financial Services Software (1.45%).

The TECk index was at 3,516.18, down by 332.15 points or by 8.63%. The major losers were Dish TV India (3.57%), Mphasis (1.87%), Idea Cellular (1.21%), Bharti Airtel (0.6%) and Reliance MediaWorks (0.42%).

On the other hand, the FMCG index was at 5,799.01, up by 117.52 points or by 2.07%. The major gainers were ITC (2.84%), Colgate-Palmolive (India) (1.33%), Hindustan Unilever (1.33%), Jubilant FoodWorks (0.94%) and Dabur India (0.8%).

Market Breadth

Market breadth was negative with 989 advances against 1,278 declines.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
Federal Bank signs MoU with New India Assurance Company - 06-May-2015 17:44
Megasoft launches XIUS AMPLIO solution - 06-May-2015 17:07
GAIL, Petronet to benefit most from surge in India's LNG imports: Moody's - 06-May-2015 14:46
GAIL, Petronet to benefit most from surge in India's LNG imports: Moody's - 06-May-2015 14:46
Edelweiss maintains Hold on Adani Ports with price target of Rs 355 - 06-May-2015 13:57
Nomura raises 12-month target for NTPC; maintains `Buy` - 06-May-2015 12:54
Bank of Baroda slashes base rate by 25 bps to 10% - 06-May-2015 12:39
Nomura maintains Neutral on Kotak Mah Bank with price target of Rs 1,500 - 06-May-2015 12:29
BHEL commissions 82.5 MW hydro set in Uttarakhand - 06-May-2015 12:02
Pricol buys Johnson Controls' 50% stake in JV for USD 3.15 mn - 06-May-2015 11:12
Hexaware names Sunder Madakshira as chief marketing officer - 06-May-2015 10:57
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer