The short 75 - minute Muhurat Session that ushered in Samvat Year 2069, ended on a weak note today with investors mostly indulging in some selling, amid a lack of positive triggers. Volumes of business was quite thin and activity was mostly stock specific.
With another holiday ahead and global cues not encouraging either due to lingering concerns about the near term economic outlook, investors were quite wary of building up fresh positions.
Information technology stocks drifted lower
Realty, bank and consumer durables stocks traded weak. Automobile stocks too were quite subdued. Capital goods, healthcare, power and metal stocks ended mixed. A few stocks from FMCG and oil sectors posted smart gains.
The BSE benchmark Sensex, which surged to 18,732.71 in early trade, but eased to 18,592.21 subsequently, ended the session with a loss of 51.47 points or 028% at 18,618.87.
The Nifty index of the National Stock Exchange ended at 5666.95, recording a loss of 16.75 points or 0.29%. The index touched a high of 5698.25 and a low of 5660.35 during the session.
Even as large cap stocks largely struggled for support, midcap and smallcap stocks had a fairly good outing. The BSE Midcap and Smallcap indices moved up by 0.7% and 1.25%, respectively.
HDFC, Dr Reddy's Laboratories, Tata Motors, Infosys, State Bank of India, Tata Consultancy Services, Bajaj Auto, HDFC Bank and Sun Pharmaceutical Industries lost 0.5% - 1.3%.
Jaiprakash Associates ended 2.6% down on disappointing quarterly results. Ultratech Cement, DLF, Grasim Industries, IDFC and ACC lost 1% - 1.6%. ACC, Reliance Infrastructure and Kotak Bank also posted notable losses.
Bharti Airtel, Maruti Suzuki, Siemens, Cipla, Reliance Industries, Tata Power, ONGC and Tata Steel edged higher.
L&T Finance Holdings (16.2%) and United Breweries (11%) vaulted on huge volumes. On the National Stock Exchange, the United Spirits counter clocked a volume of over 2.28 million shares today. More than 2.5 million shares were traded at the United Breweries counter on the National Stock Exchange.
TV 18 Broadcast (6.8%) and UB Holdings (3.5%) were among the other stocks that moved up sharply on impressive volumes.
The market breadth was fairly strong. Out of 2802 stocks traded on BSE, 1837 stocks moved up. 799 stocks declined and 166 stocks ended flat.