The Nifty was witnessing selling pressure and was near day's low as profit booking picked up in banks, realty, metals and capital goods sectors. Analysts expect the market to correct further in the near term in absence of positive triggers to drive the market higher.
"The Indian markets snapped the September F&O series on a very quiet note, though the series witnessed gains of over 8 percent for the benchmarks. The start of the new series is likely to be cautious and markets may remain in consolidation mood. Traders will be eyeing the movement of rupee, which is on an appreciation move, outperforming all its regional peers after RBI took additional measures for liquidity," said LKP report.
"There will be some concern in the rate sensitives as the RBI governor Raghuram Rajan has questioned central banks across the globe, whether current ultra-low interest rates are the right way to return to growth after the financial crisis, sending jitters back home," the report added.
At 01:00 p.m.; the 50-share index was at 5,851.20, down 31.05 points or 0.53 per cent. The index touched intraday high of 5,909.20 and a low of 5,846.40.
The S&P BSE Sensex was at 19,784.42, down 109.43 points or 0.55 per cent. It touched a high of 19,981.57 and a low of 19,757.20 in trade today.
The S&P BSE Midcap Index was up 0.18 per cent and the S&P BSE Smallcap Index gained 0.48 per cent.
Among the sectoral indices, the S&P BSE Oil & Gas Index was up 0.66 per cent, the S&P BSE IT Index was 0.20 per cent higher and the S&P BSE Healthcare Index gained 0.17 per cent.
The S&P BSE Bankex was down 1.57 per cent, the S&P BSE Realty Index declined 1.02 per cent and the S&P BSE Metal Index was 0.95 per cent lower.
ICICI BankBSE -1.92 % (2.81 per cent), Tata SteelBSE -2.62 % (2.65 per cent), BHELBSE -3.26 % (2.16 per cent), Hindalco (2.1 per cent) and Jaiprakash Associates (2.08 per cent) were among the top Nifty losers.
BPCLBSE 6.15 % (6.34 per cent), Hero MotoCorpBSE 2.51 % (2.42 per cent), HCL Tech (2.11 per cent), Sun Pharma (1.53 per cent) and Grasim (0.98 per cent) were among the index gainers.
The market breadth was positive on the NSE with 577 gainers against 560 losers.
Foreign institutional investors(FIIs) bought shares worth Rs 172.15 crore while domestic institutional investors were net sellers worth Rs 362.11 crore on Thursday as per the provisional data from the National Stock Exchange.
"The Indian markets snapped the September F&O series on a very quiet note, though the series witnessed gains of over 8 percent for the benchmarks. The start of the new series is likely to be cautious and markets may remain in consolidation mood. Traders will be eyeing the movement of rupee, which is on an appreciation move, outperforming all its regional peers after RBI took additional measures for liquidity," said LKP report.
"There will be some concern in the rate sensitives as the RBI governor Raghuram Rajan has questioned central banks across the globe, whether current ultra-low interest rates are the right way to return to growth after the financial crisis, sending jitters back home," the report added.
At 01:00 p.m.; the 50-share index was at 5,851.20, down 31.05 points or 0.53 per cent. The index touched intraday high of 5,909.20 and a low of 5,846.40.
The S&P BSE Sensex was at 19,784.42, down 109.43 points or 0.55 per cent. It touched a high of 19,981.57 and a low of 19,757.20 in trade today.
The S&P BSE Midcap Index was up 0.18 per cent and the S&P BSE Smallcap Index gained 0.48 per cent.
Among the sectoral indices, the S&P BSE Oil & Gas Index was up 0.66 per cent, the S&P BSE IT Index was 0.20 per cent higher and the S&P BSE Healthcare Index gained 0.17 per cent.
The S&P BSE Bankex was down 1.57 per cent, the S&P BSE Realty Index declined 1.02 per cent and the S&P BSE Metal Index was 0.95 per cent lower.
ICICI BankBSE -1.92 % (2.81 per cent), Tata SteelBSE -2.62 % (2.65 per cent), BHELBSE -3.26 % (2.16 per cent), Hindalco (2.1 per cent) and Jaiprakash Associates (2.08 per cent) were among the top Nifty losers.
BPCLBSE 6.15 % (6.34 per cent), Hero MotoCorpBSE 2.51 % (2.42 per cent), HCL Tech (2.11 per cent), Sun Pharma (1.53 per cent) and Grasim (0.98 per cent) were among the index gainers.
The market breadth was positive on the NSE with 577 gainers against 560 losers.
Foreign institutional investors(FIIs) bought shares worth Rs 172.15 crore while domestic institutional investors were net sellers worth Rs 362.11 crore on Thursday as per the provisional data from the National Stock Exchange.
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