Mumbai, Mar 4:Markets closed the session with marginal gains amid extreme volatility and ignored positive global cues. It seems that the benchmark indices were in a consolidation phase today, after three days of continuous sell-off. The discount of Nifty March futures has trimmed down to 10 points from yesterday's 35 points, which indicated that there was a bit of short covering by traders due to positive global cues.
The 30-share BSE Sensex swung 128 points between an intraday high of 8,501.46 and low of 8,373.24, before closing the day at 8,446.49, up 19.20 points or 0.23 pc, wherein banking space has more weightage. The 50-share NSE Nifty was up 0.87pc or 22.80 points, to settle at 2,645.20, wherein oil & gas space has more weightage. It swung nearly 44 points between a day's high/low of 2655.70 and 2611.95, respectively.
Global cues were positive while closing of Indian equities. European markets have bounced back; FTSE went up 79 points, to 3,591. CAC was trading at 2,610, up 55 points and DAX was at 3,779, up 89 points.
Sensex lacklustre; metals, realty up
Indices were choppy on Wednesday due to lack of conviction in the traders after a steep fall in previous session. Metals, realty and FMCG stocks were in the green while banks and power underperformed.
At 12 pm, Bombay Stock Exchange"s Sensex was at 8436.22, up 8.93 points or 0.11 per cent. The 30-share index hit a low of 8376.28 and high of 8485.29.
National Stock Exchange"s Nifty was at 2630.05, up 8 points or 0.29 per cent. The index touched an intra-day low of 2611.95 and high of 2642 in trade so far.
Hindalco Industries (3.89 pc), Sterlite Industries (3.03 pc), Reliance Infrastructure (2.82 pc), ACC (2.34pc) and Grasim Industries (2.13pc) were the top Sensex gainers.
HDFC (-2.79pc), ICICI Bank (-2.01pc), BHEL (-1.52pc), Sun Pharmaceuticals (-1.19pc) and Reliance (-0.86 pc) were the top losers.
Nifty clings on to 2600 support
Indian equities were subdued on Wednesday as investors chose to stay away due to lack of action in global markets. Some buying in the later part of the day is not ruled out after a sharp fall in previous session.
At 10:35 am, National Stock Exchange"s Nifty was at 2630.05, up 8 points or 0.29 per cent. The index touched an intra-day low of 2611.95 and high of 2642 in trade so far.
Bombay Stock Exchange"s Sensex was at 8436.22, up 8.93 points or 0.11 per cent. The 30-share index hit a low of 8376.28 and high of 8485.29.
BSE Midcap Index was up 0.04 per cent and BSE Smallcap Index slipped 0.19 per cent. Sensex gainers were ACC (3.12 pc), Sterlite Industries (2.90 pc), Hindalco (2.55 pc), TCS (2.08pc), Grasim Industries (1.91pc).
Tata Power (-2.26pc), Sun Pharmaceuticals (-1.42pc), Reliance (-0.83pc), Bharti Airtel (-0.81pc) and NTPC (-0.59pc) capped the gains.
Stocks open higher; banks, realty gain
Stocks opened higher on Wednesday, Mar 3 bouncing back from the lows made in the previous session. Banks and realty stocks posted decent gains while consumer durables edged lower.
Bombay Stock Exchange"s 30-share Sensex rose 50.33 points to 8447. National Stock Exchange"s benchmark Nifty climbed 15 points to 2637.40 from Tuesday"s close.
US stocks fell in volatile trading on Tuesday, with the S&P ending below 700 for the first time since October 1996 as persistent uncertainty about the amount of money needed to shore up the financial system overshadowed a hunt for bargains.
The Dow Jones Industrial Average dropped 37.27 points, or 0.55 per cent, to end at 6,726.02, the Standard & Poor's 500 Index fell 4.49 points, or 0.64 per cent, to 696.33 and the Nasdaq Composite Index slipped 1.84 points, or 0.14 per cent, to 1,321.01.