Nifty erased all intra-day gains amid renewed selling pressure seen in IT, FMCG and PSU banks.

National Stock Exchange’s (NSE’s) broad-based benchmark Nifty tumbled from day’s high in late trade to erase all intra-day gains amid renewed selling pressure seen in IT, FMCG and PSU banks’ sectors. The India Vix has slipped by 1.3%. Crucial support for Nifty is seen around the 10,300-mark.

At 2:11 PM, the BSE Sensex was trading at 33,787, down 131 points, while the Nifty50 index was trading at 10,384, down 36 points.

The Nifty Realty index extended its gains and rose 2.3% to a five-session high of 324.80 points tracking the recovery in broader markets. The Nifty Realty index has mirrored the trend in the broader market, with shares of Housing Development & Infrastructure, Oberoi Realty and Indiabulls Real Estate leading the gains on Tuesday. So far this year, the realty index has declined over 7%.

TCS ruled the volume chart on the Sensex with a TTQ of 1,917,046 and the total number of trades standing at 29,736, followed by PNB, IOC, and Tata Steel.

BSE mid-cap index has gained 0.56% with major gainers beings being the PSU Banks, while BSE small-cap index has gained 0.74% with major gainers being Future Consumer (+16%), FEL (+14%), and JPPower (+11%).

HPCL (+4.04%), BPCL (+3.56%), Infratel (+1.90%), IOC (+1.85%), and Axis Bank (+1.77%) were top gainers on Nifty50. On the other hand, TCS (-5.40%), HCL Tech (-2.03%), Kotak Bank (-1.40%), Maruti (-1.18%), and Coal India (-1.16%) were the top losers.  Of the 2,021 stocks traded on Nifty, 1,117 advanced, 582 declined, and 322 remained unchanged.

A total of 13 stocks registered a fresh 52-week high in trade on Tuesday, while 73 stocks touched a new 52-week low on the NSE.

source: indiainfoline.com