The markets closed on a flat note as it was a consolidation day post Friday's rally. Shares of oil & gas, metal, real estate, banking (barring ICICI Bank) and select infrastructure companies helped the benchmark indices.
The markets closed on a flat note as it was a consolidation day post Friday's rally. Shares of oil & gas, metal, real estate, banking (barring ICICI Bank) and select infrastructure companies helped the benchmark indices. However, selling in technology and cement along with HDFC, Tata Motors, Suzlon, Sun Pharma, Reliance Communication, ITC, Idea, Tata Power and Hero Honda put pressure on the markets.
The 30-share Sensex touched an intraday high of 14,955.55 and low of 14,685.45, before closing at 14,785.74, up 21.10 points or 0.14%. The 50-share NSE Nifty rose 0.35% or 15.45 points, to settle at 4,390.95, after seeing a day's high/low of 4439.95 and 4350.90, respectively.
Reliance Industries, ONGC, SAIL, Sterlite, DLF, NTPC, BHEL, SBI, Tata Steel, L&T and HDFC Bank were leading counters while Infosys, TCS, HDFC, Tata Motors, ITC, Reliance Communication, ICICI Bank, Wipro and Grasim were draggers.
On the next page - Turnover, Global Cues
At 15:02 hours IST - the markets were trading higher though they slipped a bit from the day's high. The selling was seen in Infosys, TCS, HDFC, ITC, Sun Pharma, Suzlon Energy, Reliance Communication, Wipro, Idea, Grasim, Hero Honda, Ambuja Cements and Tata Power, which fell 1-3.5%. Tata Motors plunged 7.5%.
At 14:05 hours IST - the buying in infrastructure, oil & gas, banking, realty and metal stocks strengthened the markets. Positive European markets were also being supportive to our markets. The Sensex was moving towards the 15000 mark while the Nifty was inching towards the 4450 level.
At 13.00 hours IST - the markets gained some strength on the back of upsurge in oil & gas, capital goods, metal, realty, power and banking stocks. The 50-share NSE Nifty surpassed the 4400 mark but the volatility was still lingering.
At 11:59 hours IST - buying in oil & gas, realty, metal, select banking and power stocks was helping the markets but selling in cement, technology stocks along with L&T, Tata Motors, Maruti, HDFC, ITC, Suzlon and Tata Power capped the gains. Such two-way moves were adding to the volatility.
At 10:56 hours IST - the benchmark indices were witnessing volatility. The Nifty and Sensex were hovering around their previous closing values of 4375.50 and 14,764.64, respectively.
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.
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All portents good; optimistic for next few Diwali's: Damani