Monday, July 6, 2015

Live: Sensex Off Day's Low; Recovers on Buying in Pharma, Oil Stocks


Sharemasterindia.com 1:40 p.m.: Real estate stocks are also witnessing buyers interest. The BSE realty index was up 0.5 per cent; HDIL, Oberoi Realty, DLF, NBCC, Sobha and Godrej Properties were among the top gainers.

1:28 p.m.: Kesoram Industries shares rose as much as 8 per cent to an intraday high of Rs 88.70 on Monday, extending its gain to nearly 15 per cent in two sessions.

 1:20 p.m.: Pharma stocks are leading the recovery in the markets. CNX pharma index has advanced over 1 per cent. Dr Reddy's Labs, Cipla, Divis Labs, Lupin and Sun Pharma were also among the top gainers.

1:14 p.m.: Most of the sectors are witnessing renewed buying interest at lower levels. The Bank Nifty which fell over 1 per cent in morning was down 0.2 per cent. FMCG, auto, power and realty stocks were also in a recovery mode.

1:09 p.m.: European markets trade on a weak note. French CAC40 index fell 1.3 per cent, Germany's DAX was down 1.2 per cent and FTSE 100 slipped 0.7 per cent.

1:00 p.m.: From the small-cap space, Marksans Pharma was the top gainer; the stock advanced 20 per cent to Rs 84.60. Sundaram Finance, Arvind Remedies, Tilaknagar Industries, Sharon Bio-Medicine and Supreme Petrochem were also among the gainers, up 12-20 per cent each.

12:55 p.m.: Broader markets outperform the benchmark indices. The BSE mid-cap index was up 0.2 per cent and the small-cap index advanced 0.4 per cent. From the mid-cap space, Essar Oil, Aditya Birla Nuvo, IDBI Bank, Crompton Greaves, Bajaj Finserv, Divis Labs, Bajaj Holdings and Tata Chemicals were among the top gainers.

12:39 p.m.: Sensex has showcased partial recovery in the noon deals. The Sensex which touched intraday low of 27,774.80 was down 135 points at 27,957 and the Nifty was down 36 points at 8,448.

Recovery in the market came as buying at lower levels picked up pace in blue-chip stocks such as Dr Reddy's Labs, Kotak Mahindra Bank, Hero MotoCorp, Cipla and BPCL.

12:20 p.m.: The BSE benchmark Sensex continued to trade with a negative bias. The BSE benchmark was down 196 points at 27,896 and the Nifty fell 54 points to 8,430.

Michael Every of Rabobank told NDTV that 'no' vote is not positive for the markets rather than a 'yes' vote would had been. There are reports that Greece will go ahead by creating electronic IOUs and a parallel currency to make sure there are no liquidity squeezes, adds Mr Every. 12:10 p.m.: Some amount of buying is visible in oil & gas and pharma stocks. The CNX pharma index jumped 0.6 per cent; Dr Reddy's Labs, Cipla, Divis Labs and Aurobindo Pharma were among the top Nifty gainers.

12:07 p.m.: Oil marketing companies BPCL, HCPL, Indian Oil gained on Monday after oil prices are also under pressure amid the Greece crisis. US benchmark West Texas Intermediate for delivery in August plummeted $1.88 to $55.05 a barrel and Brent crude tumbled 50 cents to $59.82 in late-morning Asian trade.
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