Sensex dumps 100 pts

The race to book profits on expiry day has gained momentum. Fresh shorts were built in technology, banking, telecom and Anil Dhirubhai Ambani group' stocks. The 30-share BSE Sensex was trading at 16,179, down 106 points and the 50-share NSE Nifty fell 37 points to 4,852 amid volatility. 

The broader indices too were following the trend; the BSE Midcap Index was down 1% and Smallcap down 0.7%.

On the sectoral front, the BSE Metal and IT indices fell 2% each. Capital Goods, Bank and Power indices were down 1-1.5%.

Leading largecaps like TCS, Infosys, HDFC, L&T, Bharti, SBI, NTPC, Tata Steel, ICICI Bank and HDFC Bank dropped 1-2.5%. Reliance Industries, BHEL and Wipro declined over 0.5%.

However, ONGC, Sun Pharma and Tata Motors bucked the trend; these stocks lost 2-2.5%.

Smallcaps like Sahara One, Carol Info, Kirloskar Brothers, Unisys Software and Thomas Cook gained 5-10% while Modern India plunged 16%. Himatsingka Seide, C & C Construction, Lovable Lingerie, DCM Shriram and fell 6-8%.

 Sensex falls further amid choppy trade; banks, tech down

The BSE benchmark Sensex slipped more than 50 points and the Nifty fell way below the 4900 level amid choppy trade. Even the market breadth turned in favour of declines; about two shares declined for every one share gained. The 30-share BSE Sensex was trading at 16,208, down 76 points and the 50-share NSE Nifty fell 28 points to 4,860 led by fall in 38 stocks.

Technology, banking, power, capital goods, telecom and Anil Dhirubhai Ambani Group stocks and select metal stocks were witnessing selling presure. Heavyweight Reliance Industries too was on sellers' radar; the stock declined 0.7%.

However, ONGC, Sun Pharma, Bajaj Auto, Tata Motors and Tata Power were top gainers; these stocks gained 1-2%. HUL, Dr Reddy's Labs and DLF too gained.

In the midcap space, Standard Chartered, Simplex Infra, GMDC, Emami and ABG Shipyard were up 1.5-4% while KGN Industries, Sterlite Tech, Educomp Solutions, Aban Offshore and IVRCL slipped 4-5%.

Even some Asian markets saw some profit booking at higher levels. Kospi, which rose 1.5%, was trading 0.5% higher. Even Nikkei slipped from day's high. Taiwan extended loss; it lost 0.9%.

Sensex: Gains intact in Mkt.

The BSE benchmark Sensex rallied by 257 points today on fresh buying by operators and investors on news of a second bailout package for Greece and plans to prevent the sovereign debt contagion from spreading to other European countries.

The 30-share Bombay Stock Exchange barometer resumed higher at 18,565.04 and shot up further to 18,689.29 before quoting at 18,693.56 at 1121 hours, showing a net rise of 257 points, or 1.33 per cent, from its last close.

The US markets climbed overnight as signs of progress on the US debt talks and concrete action from Europe on its own debt crisis heartened investors. Among the major indices in the Asian markets, the Shanghai Composite index is up 0.1% at 2,768, the Hang Seng is at 22,356, up 1.7% and the Nikkei is at 10,132, having gained 1.2%.

The NSE's 50-share Nifty index also moved up by 71.25 points, or 1.29 per cent, to 5,612.85 at 1030 hours.

The top gainers on the Sensex - Infosys has rallied nearly 2% to Rs 2,819. Bharti Airtel, Tata Power, Tata Motors and HDFC are also up around up 2% each. on the other hand, DLF is the only loser on Sensex, down 0.6% at Rs 240.

Index heavyweight Reliance Industries (RIL) rose 0.55 per cent to Rs 865.50 ahead of its Q1 results due July 25, 2011.

Asian shares surged in early trade to join a global rally triggered by news of a second bailout for Greece and plans to prevent the sovereign debt contagion from spreading to other European countries. The key benchmark indices in China, Hong Kong, Japan, Indonesia, Singapore, South Korea and Taiwan rose between 0.45 per cent and 1.70 per cent.

The top gainers on the Sensex - Infosys has rallied nearly 2% to Rs 2,819. Bharti Airtel, Tata Power, Tata Motors and HDFC are also up around up 2% each. on the other hand, DLF is the only loser on Sensex, down 0.6% at Rs 240.