Benchmark Indices saw consolidation for the third consecutive session on Wednesday. Nifty which was trading in range of 5650-5700 since the beginning of the week, fell 10.45 points to close at 5,663.45 ahead of F&O expiry.
The BSE Sensex closed at 18632.17 down 62.24 points, While Nifty closed at 5663.45 down 10.45 points.
Metal index was at 10,446.05, down by 116.96 . The major losers were Coal India (2.74%), Hindalco Industries (2.1%), JSW Steel (0.2%), Jindal Steel & Power (0.04%) and Bhushan Steel (0.03%).
Capital Goods index was at 10,833.22, down by 61.47 points . The major losers were Alstom T&D India (1.6%), BEML (0.77%), Crompton Greaves (0.61%), Bharat Heavy Electricals (0.26%) and Alstom India (0.19%).
FMCG index was at 5,361.64, up by 47.33 points .The major gainers were Colgate-Palmolive (India) (2.62%), Jubilant FoodWorks (1.11%), I T C (1.07%), United Breweries (0.96%) and Hindustan Unilever (0.65%).
Telecom stocks were hammered badly,ahead of news that Reliance is going to participate in the 2G auction which could result in price war. Bharti Airtel (4.02%), Idea Cellular (1.27%),
The broader markets outperformed benchmarks; the BSE Midcap Index was up 0.3 percent and Smallcap rose 0.65 percent. The market breadth was neutral.
Major European markets were trading weak on concerns over Eurozone debt crisis and riots in Spain ahead of a new round of austerity measures that due to be announced soon. Peripheral markets like Spain’s IBEX and Italy’s FTSE MIB tumbled over 2.5 percent.
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