Mumbai, Jan 22: Bad scene in midcap and small caps, which underperformed the benchmark indices, down 2 per cent each. On the other side, Global cues were positive but that did not form a part in Thursday, Jan 22 session.
The 30-share BSE Sensex remained below the 9000 mark and closed
at 8,813.84, up 34.67 points or 0.39 per cent over previous close.
It swung nearly 228 points between an intraday high of 8,927.69 and
low of 8,699.32. The 50-share NSE Nifty ended with a gain 7.65
points or 0.28 per cent at 2,713.80, after seeing a swing of 63.5
points between a high/low of 2744.85 and 2681.40.
Markets choppy; selling seen in Wipro, TCS
The markets are extremely choppy and are not following global cues - the Nifty broke 2700 mark on Thursday, Jan 22 as well. Selling pressure is seen Ranbaxy Labs, L&T, NTPC, DLF, Tata Steel, Infosys, TCS, Wipro, Reliance Infrastructure, SAIL, Tata Motors, M&M, ICICI Bank and Hindalco. Midcap and small cap indices are following the same trend.
However, Bharti Airtel, BHEL, Cairn, HDFC, Sterlite, Idea, Sun Pharma, ACC and Grasim are witnessing buying interest.
The Sensex tumbled 34.5 points to 8,744 and the Nifty fell 10 points to 2,696, at 1.54 hours IST. BSE Midcap and Small cap indices lost nearly 2 per cent.
Market breadth is weak; about 898 shares have advanced while
1779 shares declined. Nearly 275 shares are unchanged.
Benchmark indices higher amid volatility
The benchmark indices are trading higher amid volatility. Shares of oil & gas exploration, telecom, capital goods, metal and select banking companies are witnessing buying interest. However, the sell-off is seen in NTPC, DLF, Tata Communication, Zee Entertainment, Ranbaxy, Wipro, Hindalco, BPCL, Tata Power, Tata Motors, Maruti, M&M, Power Grid and Unitech.
The Sensex went up 71 points to 8,850 and the Nifty gained 14 points at 2,719, at 10.40 hours IST. BSE Midcap and Small Cap indices are flat.
Market breadth is in favour of declines; about 1191 shares have advanced while 1453 shares declined. Nearly 307 shares are unchanged.
United Spirits plunged 30 per cent, as Citi report said the
company's Q3 results surprised negatively while Bank of America ML
said downgraded United Spirits to neutral from buy on higher
Benchmark indices open positively
The benchmark indices have bounced back led by positive global cues after the sharp fall of the last two days. Positive SGX Nifty suggested a good opening. Shares of oil & gas exploration, banking, metal, capital goods, and telecom are leading this rally.
At 9.56 am, the Sensex went up 126 points at 8,905 and the Nifty gained 31 points at 2,737. CNX Midcap rose 35 points at 3,481.
Among the frontliners, ICICI Bank, Bharti Airtel, L&T, Suzlon Energy, Cairn, HCL Tech, Idea, Sterlite, Tata Steel, HDFC, Reliance Industries, Infosys and DLF have gained.
Bharti Airtel shot up 2.6 per cent, after good third quarter numbers, wherein the company saw jump of 5.52 per cent in its net profit of Rs 2,159 crore versus Rs 2046 crore. Consolidated revenues went up 6.8 per cent at Rs 9,633 crore as against Rs 9,020 crore (US GAAP).
OneIndia News (With inputs from Agencies)