Sensex, Nifty volatile ahead of July expiry

The BSE Sensex and NSE Nifty opened volatile on Thursday ahead of expiry of July contract. Most of the market experts feel the Nifty close the expiry in a range of 5100-5150.

The BSE benchmark was up just 0.85 points at 16,846.90 while the NSE benchmark fell 0.55 points to 5,109.05.

Asian markets were flat to positive in early trade. Nikkei, Straits Times, Kospi and Taiwan Weighted gained 0.4-0.5% while Shanghai and Hang Seng were flat.

Back home, Ambuja Cements, Hindalco, Sesa Goa, BHEL, Bharti Airtel, ITC, Maruti Suzuki, Bajaj Auto, Reliance Infrastructure, JP Associates, HUL, ICICI Bank and HDFC Bank were supporting the market.

However, ONGC, Coal India, Infosys, HCL Tech, Tata Motors and BPCL were under pressure. Wipro was marginally down, losing for the third consecutive session today after first quarter numbers.

The CNX Midcap Index was up just 7 points at 7,217. The market breadth was in favour of advances. 

In the second line shares, Raymond tanked 3% after the company posted a consolidated net loss of Rs 35 crore in the quarter ended June 2012 as against profit of Rs 10.7 crore in a year ago period.

Indiabulls Real Estate, Biocon and Uflex were down 1%-3% after quarterly earnings.

JSW ISPAT shot up 6% as the company turned profitable in the fourth quarter of FY12. It has posted net profit of Rs 478 crore as against loss of Rs 1130 crore year-on-year.

Jet Airways, HCC, Suzlon Energy, Kingfisher, Yes Bank and Hexaware were up around 1%-1.5% while Subex and LIC Housing Finance gained 0.4% each.

Deccan Chronicle was down 0.8% as its Managing Director N Krishnan quit the company.

Sugar stocks like Baja Hindusthan, Balrampur Chini and Shree Renuka were down 0.9%.