Indian equity benchmarks were subdued in the opening prior to expiry and awaits Germany's vote on European Union agreement today. Metals, auto, realty, banking and capital goods stocks were witnessing selling pressure.
At 9:18 hours IST, the 50-share NSE Nifty declined 33 points to 4,912 and the 30-share BSE Sensex slipped 109 points to 16,338.
Metal stocks like Sesa Goa, Hindalco, Sterlite, Tata Steel, SAIL and JSPL were down 1-2%.
DLF, Cairn India (down 2%), Maruti, Tata Motors, M&M, Axis Bank, Kotak Mahindra Bank, BHEL, Reliance Capital, Reliance Infra, Reliance Power and Jaiprakash Associates were on sellers' radar.
However, ONGC, HDFC, Infosys, Dr Reddy's Labs and Sun Pharma gained.
The CNX Midcap fell 44 points to 7,064.
Sun TV plunged 6% ahead of CBI chargesheet against Maran brothers.
Titan Industries and Kingfisher Airlines lost 1.5%.
Shree Renuka Sugar, Jet Airways and JSW Steel plunged 2.5%-3%.
Tata Metaliks shot up 4.5%. HCC rose 1.5%.
for further information visit: http://www.moneycontrol.com/news/local-markets/sensex-drifts-lower-aheadexpiry-german-vote_591919.html
BSE SENSEX and NIFTY traded in range bound session for the third consecutive session on WEDNESDAY after markets waited for the fresh trigger to extend the rally. Although European markets traded higher and ended at two months high over the speculation to get more policy stimulus from European leaders. From a broad market perspective NIFTY is expected to trade in range between 5100-5500 in near term but might be more to stocks specific. However Metal stocks topped the buying list today and remained on the radar of investors as metal index ended 2 percent up with metal giants JSW STEEL, JINDAL STEEL, SESAGOA and STERLITE up more than 3.50 percent each while ONGC, WIPRO and DRREDDY traded under pressure.
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