Indian Stock Market : Sensex ends below 17,200; auto, banks, metals down

The Sensex closed in the red, led by losses in auto, banks, metals and realty stocks even as the European markets remained firm.

The Sensex closed at 17,163.89, down 138.02 points, or 0.80 percent. It touched an intraday high of 17,271.77 and a low of 17,120.86.

The Nifty ended at 5,192.25, down 46.90 points, or 0.90 percent. It touched an intraday high of 5,217.30 and a low of 5,180.65.

The BSE Midcap Index fell 0.87 percent and the BSE Smallcap Index declined 0.89 percent.

Among sectoral indices, the BSE Auto Index was down 2.44 percent, the BSE Bankex declined 1.69 percent and the BSE Metal Index was 1.64 percent lower. The BSE IT Index was up 0.66 percent.

Indian Stock Market : Nifty ends below 5,200; auto, metals, banks down

The Nifty closed below the intermediate support level of 5,200 as a weak rupee and lack of conviction among investors hurt sentiment.

The benchmark has drifted closer to the lower end of the trading range of 5,180-5,300 as foreign institutional investors await clarity on GAAR, a proposed retrospective taxation of cross-border transactions and a reduction in fuel subsidies. The Finance Bill will be debated in Parliament early next week.

The rupee slipped below 53 per dollar, a new four-month low, on increased demand for the greenback from importers and foreign banks. The rupee was at 53.44 per dollar, down 48 paise, against its previous close of 52.96 per dollar.

The Nifty ended at 5,188.40, down 50.75 points, or 0.97 percent. It touched an intraday high of 5,217.30 and a low of 5,180.65.

The Sensex closed at 17,151.19, down 150.72 points, or 0.87 percent. It touched an intraday high of 17,271.77 and a low of 17,120.86.

The BSE Midcap Index fell 1.02 percent and the BSE Smallcap Index declined 1 percent.

Among sectoral indices, the BSE Auto Index was down 2.43 percent, the BSE Metal Index declined 1.75 percent and the BSE Bankex was 1.74 percent lower. The BSE IT Index was up 0.71 percent.

Banks witnessed selling pressure following the Reserve Bank of India's directive to set aside more capital to meet the BASEL III requirements.

Hero MotoCorp (7.55%), Axis Bank (3.94%), Bank of Baroda (3.39%), Maruti Suzuki (3.24%) and IDFC (2.89%) were among the top Nifty losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hero MotoCorp results were largely in line with estimates, but net profit came in 4% below estimates due to a higher tax rate, said a CLSA report.

The announcement of Rs 45/share dividend will come as a disappointment given expectations were of Rs 80 plus and it could take a toll on Hero's premium multiples, it added.

Asian Paints (2.37%), Hindustan Unilever (2.32%), Wipro (2.05%), BPCL (0.94%) and TCS (0.74%) were the among the index gainers.

The market breadth was negative on the NSE with 429 gainers against 1,047 losers.

Indian Stock Market : Nifty below 5200; auto, banks, metals decline

The Nifty extended its intraday losses and was near the day's lows as profit booking intensified across the board on the back of the rupee's depreciation against the dollar. There are chances that the market may break out of the tight trading range in coming sessions.

The rupee was at 53.40 per dollar, down 44 paise, against the previous close of 52.96. The Indian currency may breach the 54-per-dollar mark in the near to medium term,
according to analysts.

At 02:40 p.m., the Nifty was at 5,185.75, down 53.40 points, or 1.02 percent. It has touched a high of 5,217.30 and a low of 5,180.65 in trade today.

The Sensex was at 17,162.24, down 139.67 points, or 0.81 percent. It has touched a high of 17,271.77 and a low of 17,120.86 in trade today.

The BSE Midcap Index fell 1.04 percent and the BSE Smallcap Index slipped 1.01 percent.

Among sectoral indices, the BSE Auto Index was down 2.35 percent, the BSE Metal Index declined 1.83 percent and the BSE Bankex was 1.73 percent lower. The BSE IT Index was up 0.86 percent.

Baniking stocks are witnessing selling pressure following the Reserve Bank of India's directive to set aside more capital to meet the BASEL III requirements.

Hero MotoCorp (7.60%), Axis Bank (3.96%), Bank of Baroda (3.89%), IDFC (3.59%) and DLF (3.34%) are among the top Nifty losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hindustan Unilever (2.35%), Wipro (1.98%), Asian Paints (1.56%), TCS (0.92%) and BHEL (0.85%) are the among the index gainers.

The market breadth was negative on the NSE with 413 gainers against 1,029 losers

Indian Stock Market : Sensex choppy; Hero MotoCorp, ICICI Bank, Coal India down

The Sensex is witnessing a choppy session with negative bias as investors remained on the sidelines in the absence of clarity on GAAR and tax policy issues.

The rupee continued to slip against the dollar on demand from importers and concerns about slowing economic growth. The partially convertible rupee was at 53.22 per dollar, down 26 paise, against the previous close of 52.96.

At 01:05 p.m., the Sensex was at 17,220.73, down 81.18 points, or 0.47 percent. It has touched a high of 17,271.77 and a low of 17,148.66 in trade today.

The Nifty was at 5,208.30, down 30.85 points, or 0.59 percent. It has touched a high of 5,217.30 and a low of 5,189.45 in trade today.

The BSE Midcap Index was down 0.80 percent and the BSE Smallcap Index slipped 0.69 percent.

Among sectoral indices, the BSE Auto Index was down 1.63 percent, the BSE Realty Index declined 1.02 percent, the BSE Bankex was 1.01 percent lower. The BSE IT Index was up 0.47 percent and the BSE Healthcare Index moved up 0.32 percent.

Hero MotoCorp (6.99%), ICICI Bank (2.69%), Coal India (2.27%), Tata Power (1.94%) and Bajaj Auto (1.71%) are among the top Sensex losers.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, narrowly missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hindustan Unilever (1.51%), Wipro (1.48%), HDFC Bank (1.22%), BHEL (0.96%) and Sun Pharma (0.85%) are among the index gainers.

The market breadth was negative on the BSE with 919 gainers against 1,590 losers.

The European markets opened in the green ahead of an ECB meet. The FTSE 100 was up 0.66 percent, the CAC 40 gained 0.88 percent and the DAX moved 0.99 percent higher.

Indian Stock Market : Nifty hovers near 5,200; Hero, Axis Bank, JP Asso down

The Nifty is drifting back to the lower end of the trading range as it hovered above the support level of 5,200 on the back of the weak rupee and Asian peers.

The rupee slipped below 53 per dollar, a new four-month low, as risk-averse investors continued to buy the greenback. Demand from importers also put pressure on the rupee. The rupee fell to a low of 53.18/19 per dollar against its previous close of 52.96. The Reserve Bank of India seems to have intervened between the 52.80 and 53 levels, according to dealers.

At 10:00 a.m., the Nifty was at 5,215.20, down 23.95 points, or 0.46 percent. It has touched a high of 5,217.30 and a low of 5,203.55 in trade today.

The Sensex was at 17,215.06, down 86.85 points, or 0.50 percent. It has touched a high of 17,271.77 and a low of 17,194.26 in trade today.

The BSE Midcap Index was down 0.17 percent and the BSE Smallcap Index slipped 0.14 percent.

Among sectoral indices, the BSE Auto Index was down 1.51percent, the BSE Bankex declined 0.61 percent, the BSE Oil & Gas Index was 0.61 percent lower.l The BSE IT Index was up 0.22 percent and the BSE FMCG Index moved up 0.01 percent.

Hero MotoCorp posted a 20% increase in net profit to Rs 603 crore in the quarter ended March, missing analysts' estimates, as higher raw material costs damped gains from record sales of bikes and scooters. Its total turnover (net sales and other income) in the fourth quarter rose 12% to Rs 6,035 crore driven by higher volume growth as sales jumped 8% to 15.72 lakh units. The company announced a dividend of Rs 45 per share.

Hero MotoCorp (5.43%), Bajaj Auto (2.54%), Maruti Suzuki (2.09%), Axis Bank (1.60%) and Jaiprakash Associates (1.56%) are among the top Sensex losers.

Hindustan Unilever (1.67%), Cipla (1.18%), Sesa Goa (1.17%), Sterlite Industries (0.95%) and Wipro (0.89%) are the among the index gainers.

The market breadth was negative on the NSE with 499 gainers against 793 losers.

Asian markets were down on profit booking. The Hang Seng fell 0.50 percent, the Seoul Composite slipped 0.33 percent, the Taiwan Weighted edged 0.20 percent lower and the Strait Times was down 0.11 percent.

Indian Stock Market : Nifty seen opening lower; sugar stocks eyed

The 50-share Nifty is expected to open lower on Thursday, tracking weak global cues, while investors will keep a close eye on sugar stocks after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.

According to sources, the export of 1 million tonnes of sugar announced in the last meeting of the empowered group of ministers (EGoM) will now take place under OGL. Stocks like Balrampur Chini Mills Ltd, Shree Renuka Sugars Ltd and Bajaj Hindustan Ltd will be in focus.

The Nifty snapped a three-day upmove and closed in the negative terrain on Wednesday as a weak rupee and lack of conviction among investors hurt sentiment.

The rupee closed near the 53-per-dollar mark on Wednesday as demand for the greenback from importers increased. A widening current account deficit, slowing domestic economic growth and exit of foreign institutional investors on concerns of tax policies have been putting pressure on the rupee.

"There is a lot of headwind against the market's momentum, particularly because of the regulatory issues and non-implementation of policy. At the same time, nasty provisions like GAAR have certainly affected confidence of the people, which has probably taken away many investors from directly participating in the market at the current levels," Deven Choksey, MD, KR Choksey Securities, said.

"Adding fuel to the fire are ETFs which have withdrawn money to pay oil bills and this acts as a negative for the rupee. This too is putting off global investors and traders," Deven added.

Overnight, US stocks edged lower as economic data showed that private sector hiring unexpectedly fell to a seven-month low in April, sparking concerns that Friday's key jobs report will also disappoint investors.

"US private employers added 119,000 jobs in April, well short of expectations for 177,000, according to the ADP report. That sparked market rumors that Friday's payrolls data will show the economy added just 125,000 to 150,000 jobs last month, well below a Reuters consensus forecast for 170,000," a Reuters report said.

The Dow Jones Industrial Average dropped 10.75 points, or 0.08 per cent, to 13,268.57. The Standard & Poor's 500 fell 3.52 points, or 0.25 per cent, to 1,402.30. The Nasdaq Composite Index gained 9.41 points, or 0.31 percent, to 3,059.85.

Asian shares slipped on Thursday after disappointing data from US and Europe reignited concerns about the strength of the global economic recovery.

"European shares dropped on Wednesday after a survey showed euro zone factories sank further into decline last month, with the downturn hitting Italy and Spain hard and appearing to take root among core members France and Germany," a Reuters report added.

Hong Kong 's Hang Seng was trading lower at 21,197.12, down 0.5%. South Korea 's Kospi was trading 02% lower at 1,993.45. China 's Shanghai index was trading flat at 2,439.

At 08:00 a.m., Nifty India stock futures in Singapore were down 15 points at 5,217.00, indicating a negative opening in the domestic market.

Indian Stock Market : Sensex slips 0.5% in early trade; Hero MotoCorp down 5%

The Sensex slipped as much as 0.5 percent early Thursday, with RIL, ITC and Hero MotoCorp leading the losses. The broader 50-share NSE index was down 0.6 percent to 5,207.40.

Hero MotoCorp slipped more than 5% in early trade to touch a low of Rs 2,111.15 after the two-wheeler manufacturer reported profits below street expectations. Its adjusted operating profit margin was broadly flat on a YoY basis at 12% in the fourth quarter of FY12, while net sales grew 11.9% in the quarter.

Shares of sugar companies such as Balrampur Chini Mills, Shree Renuka and Bajaj Hindustan increased over 4% in early trade after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.

Indraprastha Gas (IGL) rose 1.6% to Rs 227.50 in early trade, ahead of a hearing on an IGL petition, challenging an order of the Petroleum Natural Gas Regulatory Board on network tariff and compression charge, scheduled for later today in the Delhi High Court.

Shares of ACC, Ambuja Cement slipped nearly 1% after the cement manufacturers reported a growth in production at 2.17 million tonnes and 1.91 million tonnes, respectively, for the month of April.

At 9:20 a.m., the 30-share BSE index was trading 0.5% lower at 17,201.16 points led by losses in RIL (0.4%), ITC (0.6%) and Hero MotoCorp (5.3%).

The BSE Auto Index slipped 1.3%, the BSE Realty Index dropped 0.7% and the BSE Metals Index fell 0.7%.

Top Sensex gainers include Cipala, which was trading 1.1% higher at Rs 320.95, and BHEL, up 0.9%.