Nifty volatile with positive bias; TCS, JSPL, Infy up

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At 11:07 hours IST, the Nifty was trading marginally higher amid volatility as banking, technology, FMCG, metal, capital goods and auto stocks were seeing buying interest. Bharti Airtel, ONGC and Grasim were the other gainers. The benchmark indices shrugged off the negative global cues, wherein US markets ended 0.8-1% lower and Asian markets were trading down.

However, selling in select stocks like Jaiprakash Associates, DLF, Suzlon, Reliance Infrastructure, Unitech, Idea Cellular and Cairn India capped the gains to some extent.

The Sensex was up 61 points at 16,756 and the Nifty gained 17 points at 4,970. The market breadth was positive; about 1,508 shares advanced while 1,251 shares declined on the BSE. Nearly 670 shares were unchanged. The benchmark indices were marginally in the green.

In the largecaps, TCS, Maruti Suzuki, Hero Honda, Wipro, Infosys, Jindal Steel, HCL Tech and IDFC were up 1-2.4%.

In the midcap space, Ackruti City, Andrew Yule, Shriram Transport, National Fertiliser and Shipping Corp gained 4-6.5% while Spice Communication, 3M India, Jagran Prakashan, Dish TV India and Monnet Ispat lost 2.6-3.3%.

In the smallcap space, Advanta, Mukand, Wire & Wireless, SpiceJet and NOCIL went up 6-11% while Marathon Nextgen, Religare Tech, MSP Steel, Hindustan Motors and Core Projects fell 4-7%.

CMIE (Centre for Monitoring Indian Economy) has increased India's FY10 GDP growth forecast to 6.2% from 6% and upped India's FY10 Industrial growth forecast to 7.2% from 5.8%.

In a block deal, L&T sold 2.7 crore Mahindra Satyam's shares at Rs 112.45/share and raised Rs 303 crore. L&T was up 1% while Mahindra Satyam lost 5%.
 
Shoppers Stop's board meeting will be on November 14 for QIP/Rights issue. The stock was down 1.7%.

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