The benchmark BSE Sensex ended 43.19 points down at 28,420.12. NSE Nifty fell 6.40 points at 8,603.45.
After a volatile session, the benchmark BSE Sensex retreated from three-months high on Monday and ended 43.19 points down at 28,420.12 as investors adopted a cautious stance ahead of Parliament session and earnings from blue-chips stocks. NSE Nifty slipped 6.40 points, but managed to reclaim 8,600 mark by sustaining at 8,603.45.
The benchmark index resumed higher at 28,544.28 on initial buying activity, but slumped to 28,319.83 on selling pressure. Some late-session buying at select counters on the back of higher European cues contained further damage, with the gauge settling at 28,420.12, down 43.19 points, or 0.15 per cent.
The 50-share Nifty eased 6.40 points, or 0.07 per cent, to close at 8,603.45 after shuttling between 8,624.10 and 8,559.
As many as 19 stocks ended in the red while 11 others finished higher.
Key bills, Goods and Service Tax (GST) bill and the land acquisition bill, are likely to be presented during the Monsoon session, which is beginning on Tuesday.
Infosys ‘s will also announce its Q1 earnings result s on July 21. Heavyweights including Infosys and RIL are set to release their earnings numbers this week, which influenced sentiment.
Tata Motors was the biggest loser among Sensex stocks by tumbling 1.89 per cent, followed by Vedanta 1.44 per cent.
Other losers on the index included HUL, BHEL, Coal India, HDFC, ICICI Bank, Maruti Suzuki and Axis Bank, among others.
The broader markets, however, saw buying activity. The BSE small-cap rose 0.40 per cent and mid-cap ended higher by 0.27 per cent.
Powered by a plunge in gold prices which crashed to over two-year lows in domestic markets and over five-year lows overseas, stocks of P C Jewellers, Tribhovandas Bhimji Zaveri and Gitanjali Gems surged up to 13.71 per cent.
In international market, gold prices tumbled 4.2 per cent to $1,086.18 an ounce in Singapore, its lowest level since March 2010 amid prospects for higher US interest rates.
In international market, gold prices tumbled 4.2 per cent to USD 1,086.18 an ounce in Singapore, its lowest level since March 2010 amid prospects for higher US interest rates.
On domestic front the metal plummeted by Rs 300 to Rs 25,700 per 10 grams, a level last seen in June 2013.
Sector-wise, BSE realty index suffered the most by falling 1.92 per cent, followed by metal by 0.51 per cent.
Meanwhile, stock markets in Asia ended mixed and European markets were trading higher in their morning session on growing optimism over a resolution to Greece crisis amid deals activity.
Market Outlook by Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services
Bank stocks started the day on a cautious note post the clarification regarding the composite-cap and ended on a mildly negative note. Overall, India’s volatility has been measured lower. Now the markets are awaiting the highlights of the parliament monsoon session which starts tomorrow, 21st July. There is high expectation on GST and Land Bill, which should act as an immediate trigger but with high risk to expectation.
Market Wrap Up by Alex Mathews, Head Research, Geojit BNP Paribas Financial Services
Our markets today remained choppy as the investors were waiting for more cues; tomorrow quarterly numbers from the big boys like Cairn, HDFC Bank, INFY, SKF India, Idea, HUL, Eicher Motors Asian Paints and also some mid-cap stocks will announce their earnings and Monsoon session of the Parliament will start tomorrow. The monsoon session of the Parliament which will begin on tomorrow and conclude on August 13 may see some important bills like GST and Land bill to be presented.
Nifty today closed at 8603 down around 6 point. The market breadth was positive as there were seen 1550 stocks advancing against 1270 stocks declining. The Nifty volatility index, India VIX stood at 14.9600 up around 1.06%.
The mid-cap and small cap sector closed up around 0.23% and 0.36% respectively.
Today the major loser was Realty which closed down around 2.08% whereas buying were seen in Oil & gas and Healthcare which ended up around 0.61% and 0.20% respectively.
The gainers in the stocks’ front were UltraTech and Asian Paint, closed up around 4.16% and 3.12% respectively. Selling was seen in PNB and Bank Baroda which ended down around 2.80% and 2.24% respectively.
The FIIs were net buyers in the cash market segment on 17 July 2015, Friday, bought shares worth Rs 605.56 crore. The DIIs on the other hand were sellers on 17 July, sold shares worth Rs 175.15 crore in the capital markets segment.
The European markets rebounded and the US index futures were also up. In Greece, the country gave order to repay 6.8 billion euros to creditors as the Greece bank reopened.
Market View by Anand James, Co Head Technical Research Desk, Geojit BNP Paribas
Though consistent FII inflows have been pushing Indian equities higher, the week has started off on a cautious note, with Parliament’s monsoon session providing a setting for volatility. With IMD’s forecast for all better rains in the last week of July and beginning of August, all eyes are also on the progress of monsoon rains, as RBI is scheduled to announcement its monetary policy decision. The central bank had said in its last report that the prospect of further policy easing would hinge on the progress of monsoon. With US rate decision expected soon, and with the industrial production’s growth slightly easing, the window for easing action is also appearing to be narrowing.
Market View by Gaurav Jain, Director, Hem Securities
Markets after a flat opening witnessed a sharp slide but recovered during the late trade with Nifty reclaiming the 8600 level. Investors seems to await the outcome of Parliament’s monsoon session and India inc. corporate earnings with big corporate earnings like HDFC Bank, Infosys, Hindustan Unilever results scheduled tomorrow.
With PTI inputs