Money on the markets
A maturing market amid the mayhem
Hurt by an appreciating rupee, the BSE IT index slipped 1.7 percent on Monday and ended as the worst sectoral performer among indices. The benchmark Sensex however ended 66 points higher on hopes of good earnings.
Top sectoral losers NIIT and Mphasis ended down 3.7 percent and nearly 3 percent respectively.
Bigger players too had a bad day, with stocks like Infosys and TCS slipping 2.2 percent and 1.7 percent respectively.
D H Pai Panandiker, president of RPG Foundation, is of the view that the rupee will harden further to 42 versus the dollar if the Reserve Bank does not intervene.
It was a good day at the bourses with over 95 BSE stocks touching their 52-week high on Friday.
Some stalwarts that made it to the list included HDFC Bank, Tata Steel, Hindalco and PNB.
It was a mixed day of trade for banking stocks on the bourses on Tuesday as the sectoral index closed marginally higher, but stocks like HDFC Bank gained over 2 percent and PNB jumped 1.9 percent.
Of the 17 stocks in the index, 11 closed in green, led by HDFC Bank. Kotak Mahindra Bank was the worst index performer, as it ended with losses of 2.1 percent.
Shares in Hindustan Unilever (HUL) gained 2.6 percent on Monday to close at 225.3 rupees and was among the top Sensex gainers even as markets ended flat.
The volumes stood at a little over 1 million shares on BSE.
Hurt by the pricing war in the detergent space, HUL shares had been struggling and lost more than 8 percent over the past two sessions.
Consumer goods maker Hindustan Unilever fell over 4 percent on Thursday to close at 229 rupees and was the top loser among Sensex components.
The firm, which is a unit of Anglo-Dutch firm Unilever, also ended as the top loser on the BSE FMCG Index, which dropped 0.8 percent and was one of the top sectoral losers.
Metal stocks had a weak trading day at the bourses with the BSE Metal Index posting losses of 1.56 percent to end as the top sectoral loser.
All stocks in the sectoral index, except Welspun Gujarat, closed in the red. Gujarat NRE Coke led the losers with a 4.4 percent fall.
Shares in Sulzer India jumped 20 percent for the second day to hit upper circuit at 1,243.65 rupees on hopes Switzerland-based parent Sulzer Ltd would offer a higher price for the 20 percent it does not own and delist the engineering products company.
Suzler India ended with volumes of 0.04 million shares its highest since October 2009.
The BSE Auto index gained over 4 percent on Tuesday in a broader market that ended 2.09 percent higher at 16,772.
The rise in the BSE Auto index was led by MRF, BOSCH, Tata Motors and M&M.
Shares in Tata Motors rallied more than 12 percent on Tuesday afternoon as investors cheered strong sales growth in February. Shares in the counter ended at 797 rupees.