Sensex ends in the red amid volatile trade; IT, auto, realty fall

The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,542.95. 

Benchmark indices ended marginally lower, amid volatile trading session, weighed down by bank shares while caution prevailed ahead of expiry of March derivative contracts on Thursday.  

The 30-share Sensex ended down 30 points at 28,162 and the 50-share Nifty dipped 8 points at 8,543.   

However, the broader markets underperformed the benchmark indices- BSE Midcap and Smallcap indices were down 0.4-0.6%. Market breadth on the BSE was negative with 1,717 declines against 1,087 advances.   

Markets will remain volatile as traders will unwind positions due to derivative expiry of March contract and fiscal-year profit booking.

The next major trigger for the Indian markets is Q4 results of India Inc. which will start during second week of April, 2015.  

Meanwhile, foreign Institutional Investors were net buyers in equities worth Rs 417 crore on Monday, as per provisional stock exchange data.   

Besides, Asian Development Bank (ADB) projected India's economy to grow by 7.8% in 2015-16, compared with 8.1-8.5% pegged by the Economic Survey for 2014-15.

However, India's growth projections were much higher than the 7.2% projected for China in the year.  

 In the currency front, continuing its rising streak for the seventh straight session, the rupee rose by 9 paise to 62.18 against the dollar at the Interbank Foreign Exchange on sustained selling of dollars by exporters.   

ASIAN MARKETS   

Japan's Nikkei share average fell on Tuesday as a weak factory activity survey in China and a drop in U.S. markets weighed on investor confidence, but losses were limited by expectations of better returns for holders of Japanese shares. 

The Nikkei ended 0.2 percent lower at 19,713.45 points in choppy trade.  

 Investors also awaited PMI data for euro zone countries including Germany and France.

The flash HSBC/Markit Purchasing Managers' Index (PMI) dipped to 49.2 in March, below the 50-point level that separates growth from contraction.

SECTORS & BUZZING STOCKS  

BSE Healthcare, Consumer Durables and Oil & Gas indices gained between 1-2%. However, Auto, Banks, IT and Realty sectors slipped between 0.4-1%.  

Bharti Airtel was the top Sensex gainer, up over 3%. According to media reports, Bharti Airtel's joint venture with Vodafone named Firefly Networks is making significant progress towards capturing the largest possible pie of India's fast growing Wifi market.  

HDFC gained by almost 1.5%.

The company has fixed March 26, 2015 as the record date for the purpose of payment of interim dividend, if approved by the board.

The board of directors of the company at its meeting held on March 19, 2015, inter alia, has approved the payment of an interim dividend of Rs. 2 per equity share of face value of Rs 2 each of the corporation, for the financial year 2014-15.

Sun Pharma rose around 2% after the Competition Commission of India (CCI) has given its approval to divest seven brands by Sun Pharmaceutical Industries and Ranbaxy Laboratories to Pune-based Emcure Pharmaceuticals paving the way for the proposed $4-billion merger deal.  

Dr Reddy's Labs advanced nearly 2% after the company said it has entered into a licencing agreement with Hyderabd-based Hetero Drugs Limited to distribute and market chronic Hepatitis C medicine Sofosbuvir 400 mg under the brand name Resof in India.  

NTPC increased over 1%. The Simhadri Super Thermal Station of NTPC is planning to expand its 2,000 MW power plant at Parawada that comes under Visakhapatnam district in the state of Andhra Pradesh.  

Cipla's joint venture partner, Stempeutics Research has received Advanced Therapy Medicinal Product (ATMP) classification from European Medicines Agency (EMA) for its novel stem cell drug "Stempeucel." The stock is up over 1%.  

Wipro gained around 1%. Wipro has launched an independent business unit called Wipro Digital and is looking at acquiring companies, especially in North America and Europe, in areas such as 'design competency' and 'process utility' to expand its bouquet of services in the digital space.  

Other notable gainers were GAIL, Sesa Sterlite, RIL, BHEL and M&M.   

On the losing side, Tata Motors was the top Sensex loser, down over 3%.

Tata Motors-owned luxury brand Jaguar Land Rover will manufacture the Range Rover Evoque at its Pune facility to support sales growth in the local market.  

Most metal shares were trading weak after a private survey showed that China's factory sector declined to 11-month low to 49.2 in March. Hindalco and Tata Steel slipped between 1-2%.  

Banking shares continued to remain under pressure on the bourses with the Bank Nifty slipping for the fourth straight trading session.  

State Bank of India (SBI), Bank of India, Bank of Baroda, Canara Bank, IndusInd Bank, Yes Bank and Punjab National Bank were down 1%-2% on the National Stock Exchange (NSE).  

SMART MOVERS  

Shares of Suven Life Sciences were up over 6% after the company said it has secured three product patents for its new chemical entities in Canada, Japan and Korea.  

Shares of Shreya Shipping and Logistics were locked in 5% upper circuit at Rs 387 after the company said its board has approved plans to expand its fleet by acquiring additional vessels.  

Nava Bharat Ventures were up nearly 8% after a foreign fund bought over 5 lakh equity shares of the company through a bulk deal on the National Stock Exchange.  

NIIT Technologies declined 6% to Rs 352 on the National Stock Exchange (NSE) after the company said a dispute has arisen between one of the company's subsidiaries & its client in the APAC region, which may result in claims & counter claims.  

Geometric slipped over 6% on media reports that the promoters are planning to sell their entire stake in the company.