Mkts choppy; Suzlon, Sun Pharma, Tata Motors slip

The markets opened on a positive following Friday's rally but immediately turned volatile. Among the frontliners, Unitech, BPCL, HDFC Bank, Power Grid, Hindalco, Sterlite, Reliance Capital, GAIL, Ambuja Cements, HCL Tech and Tata Steel were witnessing buying interest. However, Suzlon, Tata Motors, Sun Pharma, ICICI Bank and ACC lost ground.

At 9:56 am, the Nifty was up 11 points at 4,386 and the Sensex rose 27 points, to 14,791. The CNX Midcap went up 25 points, to 5,536. About 430 shares advanced while 109 shares declined on the NSE.

Unitech was up over 3%, as the company raised $ 575 million from second QIP. Tata Steel has bounced back after seeing selling pressure on Friday.

Suzlon Energy tanked over 6% and Tata Motors slipped over 3.5% post disappointing numbers. Sun Pharma was down 3% as the company withdrew FY10 guidance.

Rishabhdev Technocables listed on the BSE today, went up 20% to Rs 40 a share as against its issue price of Rs 33 a share.

Midcap Space

Bajaj Hindusthan, Bank of Rajasthan, S Kumars Nationwide, IFCI and Nagarjuna Construction were the gainers.

Indiabulls Real, Glenmark Pharma (post weak numbers), Gujarat NRE Coke (post disappointing numbers), JP Hydro, RNRL, India Cements, TVS Motors and Sesa Goa were the losers.

Global Cues:

Asian markets were trading marginally higher. Shanghai Composite, Hang Seng, Nikkei, Kospi and Taiwan Weighted gained 0.3-0.6%. Straits Times was flat.

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