RTTNews - Negative global cues dragged the Indian market lower on Tuesday after three sessions of successive gains. However, the market has cut most of its early loss amid some buying in consumer durable, auto and metal stocks.
The BSE Sensex is now trading at 15,551, down 78 points or 0.50% and the S&P CNX Nifty is trading at 4,622, down 0.44%. On the BSE, the mid-cap index is rising 0.35% and the small-cap is up 0.79%, outperforming large-caps. The market breadth is also fairly positive, with 1119 gainers versus 679 losers.
Among the major decliners, ITC and Reliance Infrastructure are down around 1.68% each, ICICI Bank is losing 1.17%, ONGC is down 1.15% and HDFC Bank is down 1.01%.
DLF, Tata Power, SBI, BHEL, Infosys, Sterlite Industries, TCS and Bharti Airtel are the other prominent losers.
On the other hand, Tata Motors is rising 2.24%, Mahindra & Mahindra is gaining 1.33%, Wipro is up 1.28% and Tata Steel is up 1.15%.
NTPC, Reliance Communication, Grasim Industries, Maruti Suzuki, HDFC and Reliance Industries are also trading in positive territory.
HDFC is up 0.33% after it raised Rs.4,301 crore through a mix of zero coupon non-convertible debentures and warrants issued to domestic investors. JK Tyre and Industries is rising 0.60% on reports it would achieve a turnover of Rs.4,000 crore in the current fiscal year.
Indraprastha Gas is gaining over 3% amid reports that it has begun drawing Reliance Industries' KG-D6 gas from Monday morning. HCL Technologies is surging up over 6% on reporting better-than-expected results for the 12 months ended June.
Essar Oil is up 1.65% following reports that it could raise $750 million to fund its acquisition plans. Basil Infrastructure Projects is locked in the 5% upper circuit limit after its board approved raising funds via a rights issue.
Bhartiya International is down over 10% after the company proposed to issue convertible warrants on a preferential basis. Reliance Communications reportedly plans to invest Rs 1,000 crore on rural telecom infrastructure. The stock is trading up a modest 0.49%.
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