Mumbai, Dec 26: The markets are trading lower with some volatility. A decline in advance tax numbers could be one of the reasons for the markets slipping into red. advance tax mop-up for the third quarter declined by 22.4 per cent at Rs 42,600 crore and while the advance tax for the nine-month period of April-December fell by 2.58 per cent at Rs 1,13,000 crore versus Rs 1,16,000 crore (YoY). Metal, capital goods, banking, technology and select oil and power stocks are under pressure.
The Nifty broke the 2,900 mark and is hovering around the same level; it lost 25 points at 2,891. The 30-share BSE Sensex fell 97 points to 9,471 at 1:58 hours IST.
Midcap, small cap indices trading higher
The benchmark indices are trading higher with some volatility. Buying is seen in Reliance Industries, Reliance petroleum as well as shares of capital goods, realty, banking, metal, power and auto companies. Midcap and small cap stocks are also on buyers' radar.
The Sensex rose 97 points to 9,665 and the Nifty gained 29 points at 2,946, at 10:51 hours IST. BSE Midcap index rose 1.5 per cent and Small cap Index up 0.85 per cent.
Markets open positive amid slight volatility
The markets have bounced back on the first day of Jan series, but there is some volatility. Buying is seen in oil exploration, capital goods, banking, metal and realty stocks.
At 9.56 am, the Sensex rose 83 points to 9,652 and the Nifty gained 25 points at 2,941. CNX Midcap 100 went up 0.77 per cent to 3,661. Market breadth is positive; about 348 shares have advanced while 139 shares have declined.
Satyam, Unitech, Suzlon Energy, HDFC, HDFC Bank, ICICI Bank, SAIL, Hindalco, BHEL, Tata Motors, Reliance Infrastructure and SBI are gainers in early trade.
Reliance Petroleum shot up 11 per cent, as the company commissioned 29 million tonnes Jamnagar refinery and will attain full capacity shortly. Reliance Industries also went up 1.4 per cent.
OneIndia News (With inputs from Agencies)