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    HomeNewsBusinessMarketsSensex consolidates; ADAG, capital goods, realty slip

    Sensex consolidates; ADAG, capital goods, realty slip

    At 10:32 hours IST - equity benchmarks were witnessing volatility today after a massive fall seen in last two weeks led by rate sensitive and infrastructure stocks.

    January 17, 2011 / 11:24 IST

    At 10:32 hours IST - equity benchmarks were witnessing volatility today after a massive fall seen in last two weeks led by rate sensitive and infrastructure stocks. Anil Dhirubhai Ambani Group (ADAG), realty, auto, metal and capital goods companies' shares were under pressure followed by Reliance Industries and Bharti Airtel. Reliance Industries and ICICI Bank were playing a major role in today's volatility.


    After the SEBI order that Anil Ambani & four directors would not invest in secondary market till December 2011, ADAG shares were on sellers' radar. Even Reliance Infra and RNRL would not invest in secondary market till December 2012, says SEBI. Reliance Communications, Reliance Infrastructure, Reliance Power and Reliance Capital lost 3-5%.


    L&T lost over 1.5% ahead of its Q3FY11 numbers today. DLF from realty pack tumbled over 2%. Sterlite Industries and Sesa Goa from metal space were down 2% & 3.3%, respectively. Jindal Steel and SAIL fell 0.6-1%.


    However, indices were getting support from financial, technology and healthcare companies' shares along with ITC. Infosys and Wipro were down 0.6% each.


    In financial space, SBI and HDFC Bank rose 0.5% each. Axis Bank ahead of numbers today gained 1.4% and Kotak Mahindra Bank went up 2%.


    The 30-share BSE Sensex was trading at 18,891, up 31 points and the 50-share NSE Nifty rose 2.75 points to 5,657. Breadth was negative; about 392 shares advanced as against 852 shares declined on National Stock Exchange.

    Ambareesh Baliga of Karvy Stock Broking said that the markets may possibly fall closer to 5,200.
    first published: Jan 17, 2011 10:38 am

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