Indian Markets Recorded Third Straight Session Of Loss

Key benchmark indices ended lower for the third consecutive session as investors turned cautious and booked profit in IT shares ahead of first quarter earnings later today. However, rally in capital goods shares ahead of May IIP numbers on Friday stemmed the downside. 

The broader markets, however, outperformed their larger peers with BSE Midcap and Smallcap indices down by 0.3% each.

On the domestic front, the market participants would be keenly eyeing the macro-economic data, which will be unveiled in the coming days. Also, the progress in monsoons for the month of July is a key indicator that could dictate the terms on bourses.

The Sensex closed at 27,534 levels, down by 114 points or 0.4% while Nifty was at 8,328, down by 25 points.

KNR Constructions jumped 3.27%, after the company said that it was awarded an order worth Rs255.60 crore by Madhya Pradesh Road Development Corporation. 

HIL jumped 5.40%, after the company said that on July 07, 2015, the company has commenced commercial production of coloured steel sheets at its manufacturing facility in Wada, Maharashtra. 

IL&FS Engineering and Construction Company surged 4.22%, after the company said that it has successfully commissioned Halol Godhra Dahod Pipeline Project in Gujarat. 

Bhushan Steel hit 20% upper circuit, on reports that the company said it has received shareholders' nod to restructure around Rs30000 crore loans under a scheme of Reserve Bank of India.

The market breadth stood in favour of advances. Of the 2930 stocks traded on the BSE, 1532 (52.29%) rose, 1284 (43.82%) fell and 114 (3.89%) stocks remained unchanged.

Among the sectoral indices- Top Gainers: S&P BSE CG up 1.92%, S&P BSE Power up 0.48% and S&P BSE HC up 0.14%. Top Losers: S&P BSE Oil&Gas down 2.01%, S&P BSE IT down 1.91% and S&P BSE TECk down 1.54%.

Among 'A' group stocks, top three gainers were - Bhushan Steel up 20.00%, Jubilant Life Sciences up 10.04% and JP Infratech up 6.61%. Top three losers were - Welspun Corp down 6.26%, Emami down 6.12% and Essar Oil down 5.49%