Mkts weak amid volatility; realty, auto, power slip

At 12.34 hrs IST, the markets were trading in negative terrain with some choppiness. The Nifty was hovering around the 4350 mark. Heavy selling pressure was seen in realty, auto, power, bank and oil & gas stocks. The BSE midcap and smallcap indices were down 1.23% and 0.72% respectively.

The Sensex was down 146.81 points or 0.99% at 14638.93, and the Nifty was down 47.10 points or 1.07% at 4343.85.

About 1070 shares advanced, 1661 shares declined, and 424 shares were unchanged.

Amit Dalal of Amit Nalin Securities believes the markets would see an upside today on the back of positive global cues. “There has been resurgence in the market from the low of 4,200.” He feels 4,500 will be the high that the market would see before the Budget. “There maybe some sell-off there. The 4200-4500 range will remain sacrosanct until the Budget news is out.”

Top losers on the Sensex were Tata Motors at Rs 294.60 down 6.13%, Sterlite Ind at Rs 617 down 4.59%, Jaiprakash Asso at Rs 210.95 down 4.55%, DLF at Rs 324.40 down 4.02% and ICICI Bank at Rs 725.70 down 3.07%.

Top losers on the BSE Midcap - HDIL, Bajaj Hind, IVRCL Infras, IBN18 Broadcast and Indiabulls Real were down 7-8%.

Top losers on the BSE Smallcap - Asahi India, Bajaj Hind, Geefcee Fin, Himadri Chem and NESCO were down 7-8%.

On the next page - see how Indian markets performed in the last one and half hours