The Intraday market ended first day of July series on a flat
note. The Sensex is up 37.25 points at 25099.92 and the Nifty is up 15.60
points at 7508.80. About 1720 shares advanced, 1287 shares declined and 107
shares are unchanged. IT stocks supported the indices with TCS and Wipro
gaining 2-3 percent each. Sun Pharma, Cipla and Dr Reddy's Labs were other
gainers. BHEL, Hindalco, Bharti Airtel and M&M were major losers.
The monsoon lull in India persists and private weather forecaster Skymet believes that a drought is likely if the situation remains unchanged till mid-July. Skymet warned that a downgrade is not out of the question since this is turning out to be the worst June monsoon in the last ten years.After a consolidation in previous three sessions, equity benchmarks strengthened with the Sensex rising 267.97 points or 1.07 percent to 25367.89 and the Nifty gaining 79.85 points or 1.06 percent to 7588.65.
India's largest lenders State Bank of India, ICICI Bank and HDFC Bank advanced 2 percent each followed by Axis Bank and housing finance company HDFC with 1 percent. Engineering and construction major L&T climbed 2 percent. Shares of ITC, ONGC, Sun Pharma, Sesa Sterlite, Tata Steel, Bharti Airtel, Dr Reddy's Labs, Tata Power, NTPC, Gail, Hindalco Industries and BHEL rose 1-1.8 percent. However, TCS underperformed, falling 0.5 percent.
The monsoon lull in India persists and private weather forecaster Skymet believes that a drought is likely if the situation remains unchanged till mid-July. Skymet warned that a downgrade is not out of the question since this is turning out to be the worst June monsoon in the last ten years.After a consolidation in previous three sessions, equity benchmarks strengthened with the Sensex rising 267.97 points or 1.07 percent to 25367.89 and the Nifty gaining 79.85 points or 1.06 percent to 7588.65.
India's largest lenders State Bank of India, ICICI Bank and HDFC Bank advanced 2 percent each followed by Axis Bank and housing finance company HDFC with 1 percent. Engineering and construction major L&T climbed 2 percent. Shares of ITC, ONGC, Sun Pharma, Sesa Sterlite, Tata Steel, Bharti Airtel, Dr Reddy's Labs, Tata Power, NTPC, Gail, Hindalco Industries and BHEL rose 1-1.8 percent. However, TCS underperformed, falling 0.5 percent.
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