Heavy buying pushes Markets to close Higher
Mumbai, Jan 30: The markets saw good buying in the second half of the trading session after a weak start in the morning and closed sharply higher on the first day of Feb series. The Nifty stepped back above the 2,850 level while the Sensex ended above the 9,400 level.
Markets
closed
higher
with
help
of
heavy
buying
in
oil
&
gas,
banking,
realty,
telecom,
metal,
select
auto,
capital
good
and
power
stocks.
Midcap
and
smallcap
stocks
too
followed
similar
trend.
The
50-share
NSE
Nifty
has
tested
an
intraday
high
of
2881
and
low
of
2774.10,
before
closing
at
2874.80,
up
1.8
per
cent
or
50.85
points
over
previous
close.
The
30-share
BSE
Sensex
ended
at
9,424.24,
up
187.96
points
or
2.04
per
cent,
after
hitting
a
high/low
of
9,438.31
and
9,087.36,
respectively
during
the
day.
04:00
PM
Markets bounce back; Nifty tests 2850
Markets
continue
to
portray
mixed
trend
and
are
trading
higher
amid
volatility
on
support
from
oil
&
gas,
realty,
FMCG,
select
power,
metal
stocks
as
well
as
L&T,
SBI,
Ranbaxy
Labs,
HDFC
Bank,
PNB
and
Suzlon
Energy.
The
Sensex
went
up
86
points
at
9,322
and
the
Nifty
gained
26
points
at
2851,
at
2:15
hours
IST.
BSE
Midcap
and
Small
Cap
indices
rose
0.4
pc
each.
02:30
PM
Markets volatile; SBI, R-COMM gain
The Indian markets recovered from the lows of the opening trade and the indices are trading with some volatility. It is supported by oil & gas, FMCG, realty, cement stocks as well as SBI, Reliance Communication, Maruti, Ranbaxy and Cairn India.
But
selling
pressure
still
remains
in
the
capital
goods,
power,
technology,
select
auto
stocks
as
well
as
Bharti,
Sun
Pharma,
ICICU
bank,
Tata
Steel,
SAIL
and
HDFC.
The
BSE
Sensex
went
up
just
6.48
points
to
9,242
and
the
NSE
Nifty
gained
2
points
at
2,825,
at
11:52
hours
IST.
BSE
Midcap
and
Small
cap
indices
are
flat.
12:00
PM
Markets open red on Weak global cues
The weak global cues pushed the Indian benchmark indices to open red. The disappointing earnings from the frontline companies also added pressure. At 9:56 am, the Sensex went down 141 points at 9,095 and the Nifty fell 39 points at 2,785. CNX Midcap tumbled 47 points at 3,283.
The Nifty breaks below 2800 mark. Banking, power, capital goods, metal, realty, teleccom, select technology and oil stocks are under pressure. Among the frontliners, Suzlon Energy, BHEL, ABB, Reliance Communication, Tata Motor, Power Grid, ICICI Bank, Unitech, DLF, Tata Steel, NTPC, Nalco, Sun Pharma, HDFC and Reliance Industries are weak while HCL Tech, Cairn, Punjab National Bank and ONGC are trading on the higher side.
Among the midcap stocks, GMR Infrastructure, Glenmark, Satyam have lost ground while Subex, Indiabulls Financial and Kingfisher Airlines surged.
Friday,
Jan
30
also
saw
the
Asian
markets
declining
for
the
first
time
in
last
four
days.
Nikkei
was
down
3.6
pc.
US
markets
declined
after
4-days
of
gain
as
US
new-home
sales
fell
to
all-time
low,
number
of
Americans
receiving
jobless
benefits
surged
to
a
record
and
companies
continue
to
report
dismal
set
of
numbers.
10:00
AM
OneIndia News (With inputs from Agencies)