Sensex volatile; RIL, SBI, NTPC, ICICI Bank up
Indian equity benchmarks were quite volatile in trade at 11:51 hours, especially after a sharp upmove witnessed in previous two sessions. The Sensex was down over 100 points in morning trade but managed to recover those losses.
February 15, 2011 / 12:10 IST
Indian equity benchmarks were quite volatile in trade at 11:51 hours, especially after a sharp upmove witnessed in previous two sessions. The Sensex was down over 100 points in morning trade but managed to recover those losses.
Financial, power and telecom companies' shares were supporting the markets. Reliance Industries, Bajaj Auto, Tata Motors and HUL too were on buyers' radar.However, the sell-off continued in capital goods, realty, technology and healthcare companies' shares. ONGC, M&M, SAIL, ITC, Hindalco, Jaiprakash Associates and Reliance Power were also under pressure.The 30-share BSE Sensex was trading at 18,225, up 23 points and the 50-share NSE Nifty went up 7 points to 5,463. Manoj Singla of Religare Capital is bullish on the markets as he feels growth will sustain through the year and consumption continue to be robust. Among frontliners, Tata Power, ICICI Bank, SBI, Reliance Communications, NTPC, IDFC, BPCL and Kotak Mahindra were up 1.5-2%.However, M&M, Jaiprakash Associates, BHEL, TCS and L&T lost 1.5-3%.In midcap space, Prakash Inds, Bombay Rayon, Stride Arcolab, Bajaj Corp and Marico rallied 5-8% while Gitanjali Gems, PTC India, Deccan Chronicle, Jubilant Life and SpiceJet fell 4-5%.In smallcap space, Tilaknagar Inds, Talwalkars Fitness, MIC Electronics, Reliance Broadcast and Texmaco jumped 6-11% whereas Surana Inds, Zodiac Clothing, Nitesh Estates, Astral Poly and Parrys Sugar lost 5-6%._PAGEBREAK_Nifty sees profit booking; TCS, BHEL, L&T dipThe benchmark Nifty was witnessing some profit booking amid a choppy trade at 10:37 hours, especially after a sharp rally seen in previous two sessions. Index had rallied more than 230 points in last two days. Capital goods, realty, metal, technology, financial (except ICICI Bank) and healthcare companies' shares were on sellers' radar.ONGC, ITC, M&M and Bharti Airtel too were down. However, Reliance Industries, Tata Power, Bajaj Auto, NTPC, ICICI Bank, HUL, Reliance Communications and BPCL were only gainers on Nifty, which managed to limit losses to some extent.The 30-share BSE Sensex was trading at 18,075, down 127 points and the 50-share NSE Nifty fell 40 points to 5,416. The broader indices were following the same trend.Heavyweights TCS and BHEL slipped 2.5% each. ONGC, SBI, Infosys and ITC were down 0.8%. Wipro, HDFC and L&T declined more than one percent.Among others, M&M, Jaiprakash Associates, DLF and Hindalco fell 3%. Sun Pharma, Jindal Steel, Tata Steel and Hero Honda slipped 1-2%.In midcap space, Prakash Industries, Bajaj Corp, Bombay Rayon, Manappuram and IOB gained 3-9% while Jubilant Life, Deccan Chronicle, Gitanjali Gems, Shriram City and PTC India lost 4-6%.In smallcap space, MIC Electronics, Reliance Broadcast, Atco Corp, Taj GVK Hotels and Allied Digital were up 5-8% whereas Parrys Sugar, Nitesh Estates, Surana Inds, Zodiac Clothing and SREI Infra fell 5-8%.About 465 shares advanced as against 799 shares declined on National Stock Exchange._PAGEBREAK_Nifty choppy after 2-day rally; RIL, Infy gainThe benchmark Nifty was flat with a positive bias in opening trade amid a choppy trade. The index was consolidating at around previous closing value after a rally seen in previous two days.Equities are likely to be the best performing asset in the coming decade, says Ridham Desai of Morgan Stanley. "We expect the Sensex to deliver annual returns of 15.3% over the next 10 years. Our view is that the risk-reward ratio for Indian equities will make it the most attractive asset class in the coming decade. We believe that Indian equity returns are likely to be less volatile in the coming decade than in the previous 10 years," he explained.Among frontliners, ACC, Ambuja Cements, Tata Motors, Bajaj Auto, GAIL, Tata Steel (ahead of numbers), L&T and BHEL were on buyers' radar.However, Reliance Communications, M&M, HDFC, Jaiprakash Associates, Dr Reddy's Labs, ONGC, Infosys, TCS, Bharti Airtel and Reliance Communications were witnessing selling pressure.At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,266, up 65 points and the 50-share NSE Nifty rose 14 points to 5,470.The CNX Midcap went up 11 points to 7,727 and the Nifty Junior gained 24 points at 10,823. About 638 shares advanced as against 253 shares declined on National Stock Exchange.Midcap & Smallcap space:Results reaction: Amtek Auto was up 3% while Ispat, Jubilant Life, Deccan Chronicle and Unitech lost 2-4%.Escorts rose 3% and TVS Motors was up 0.8%. IOB gained 5%.Reliance Broadcast and Videocon Industries were up 2.5% each.However, Sun TV lost 3%. HDIL, Reliance Capital and Ashok Leyland fell 0.5%.Asian markets were mixed in trade. Shanghai, Kospi and Taiwan were up 0.6% each. Nikkei rose just 0.3% while Hang Seng was down 0.2% and Straits Times down 0.6%.The US markets ended flat on absence of any economic news. Resources stocks gained post the end of the political standoff in Egypt.The Dow Jones Industrial Average ended down 5 points at 12,268. The Nasdaq Composite was up 8 points at 2,817 and S&P 500 index rose 3 points at 1,332.CommoditiesMarch crude oil contract was down 0.9% at USD 84.81/barrel, lowest levels in 2 monthsMarch natural gas was up 0.5% to USD 3.93 per MMBtuMarch copper went up 2% to USD 4.63 per poundMarch silver was up 1.8% at USD 30.53/ounceApril gold was up 0.3% to USD 1365.1/ounce F&O cues: Total Nifty futures up Rs 1278 crore, Options up Rs 1877 crore Stock futures net shed 1 crore shares in Open Int Nifty Fut Open Int shed 3.3 lakh shares in Open Int; Nifty futures premium flat versus 8 pts prem Nifty Open Int PCR up at 1.14 versus 1.03 Nifty Put add 58 lakh shares, Call shed 26.5 lakh shares in Open IntHighest Open Int outstanding at 5400 Put (from 5100 Put), 5300 Put (from 5200 Put), 5600 call (from 5400 call)Nifty 5400 Put adds 37.2 lakh shares (66%) in Open Int; prem down up from 111 to 45Nifty 5300 Put add 22.2 lakh shares (41%) in Open Int, prem down from 61 to 22Nifty 5500 Put add 20 lakh shares (68%) in Open Int, prem down from 165 to 87Nifty 5600 Call add 12.9 lakh shares (23%) in Open Int, prem up from 10 to 17.7Nifty 5100 Put shed 17.3 lakh shares (23%) in Open IntNifty 5200 Call shed 16 lakh shares (37%) in Open IntNifty 5300 Call shed 13.9 lakh shares (25%) in Open IntNifty 5400 Call shed 12.9 lakh shares (20%) in Open Int Discover the latest Business News, Sensex, and Nifty updates. 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