makin97 NSETIPS @ RAKESH MAKIN: MARKET ENDED 02.06.2011 THURSDAY

WERE TODAY'S GAINERS

MARKET ENDED 02.06.2010 THURSDAY

SENSEX 18494.18 -114.63

NIFTY 5550.35 -41.65

NASDAQ 2768.05 -01.14

UPDATEDTIME 09.28 PM 02 JUNE 2011

Equities ended in the negative territory mirroring losses in global peers as sell-off in the US markets hurt sentiments. Banks, metals, realty and auto were the major underperforming sectors while FMCG and oil&gas ended in the positive terrain.

A Delhi court on Thursday dismissed pleas for a direction to the CBI to make Reliance ADAG chairman Anil Ambani , Tata group Chief Ratan Tata , corporate lobbyist Niira Radia and DMK chief M Karunanidhi's wife Dayalu Ammal , as accused in the 2G spectrum scam.

According to analysts, the market looks weak as it failed to hold on to pull-back attempt before slipping back to psychological support levels. Given the bearish global trend, the indices are likely to slip lower in coming sessions.

Bombay Stock Exchange's Sensex closed at 18494.18, down 114.63 points or 0.62 per cent. The 30-share index hit a high of 18540.67 and low of 18390.57 in trade today

National Stock Exchange's Nifty ended at 5550.35, down 41.65 points or 0.74 per cent. The broader index touched a high of 5568.20 and low of 5521.95 intraday.

"Major resistance for the Nifty is around 5620, unless that is breached on the upside, we are likely to go down to 5350. Most global market appear to be in downtrend and that could pressure on our market. We are bearish on auto, metals and banking stocks while bullish on FMCG space.

BSE Midcap Index was down 0.68 per cent and BSE Smallcap Index moved 0.78 per cent lower.

Amongst sectoral indices, BSE Bankex moved 1.52 per cent lower, BSE Metal Index was down 1.32 per cent and BSE Realty Index declined 1.26 per cent. BSE FMCG Index was up 1.01 per cent and BSE Oil&gas Index edged 0.15 per cent higher.

Reliance Infrastructure (-4.66%), Reliance Communications (-4.11%), ICICI Bank (-3.10%), Tata Motors (-2.81%) and M&M (-2.19%) were the top Sensex losers.

Shares of Reliance Infrastructure and Reliance Communications were under pressure ahead of Delhi court's decision to probe ADAG Chairman Anil Ambani in 2G scam case. However, the court has dismissed the plea to probe Anil Ambani, Ratan Tata, Niira Radia and Dayalu Ammal in the case.

Hindustan Unilever (3.53%), Bajaj Auto (2.22%), ITC (0.77%), Reliance Industries (0.54%) and Hero Honda (0.53%) were the major gainers.

Procter & Gamble is rumoured to be lining up a GBP 38 billion bid for its biggest rival Unilever. Wild rumours are doing the rounds that Procter & Gamble (P&G) could make a mega offer for Unilever. This led to buying interest in HUL counter.

Bajaj Auto's total sales for the month of May 2011 rose to 358849 vehicles, up 20 per cent from sale of 299442 vehicles in the same period a year ago.

Reliance Industries ended slightly higher ahead of company's annual shareholder meet. Chairman Mukesh Ambani is expected to announce a slew of initiatives for both existing and new businesses of the energy-to-retail conglomerate, possibly through multiple partnerships and potential acquisitions.

Market breadth was negative on the BSE with 1148 declines against 1659 advances.