The benchmark Indices were positive in the first half of the day, however they slipped to red in the second half. The markets were choppy throughout the session.
Metal, capital goods (barring BHEL), select auto and telecom stocks saw buying interest while the gains were capped by FMCG, financials and pharma stocks.
ICICI Bank, HDFC, ITC, NTPC, Tata Power, TCS, SBI and Reliance Communication were negative contributors to the Sensex while L&T, Bharti, Reliance Infrastructure, Sterlite, Tata Motors, Tata Steel and ACC were active on the markets.
Broader indices outperformed the benchmark indices. BSE Midcap Index went up 56.31 points or 1.62 per cent, ending at 3,528.91 and Smallcap Index closed 1.51 per cent or 59.59 points higher at 4,011.15.
Due to the increment in the broader indices, Market breadth was positive. About 1719 shares advanced while 1251 shares declined and nearly 126 shares remained unchanged.
Global cues were negative. The FTSE was down 53 points, to 4,039, CAC was trading at 3,021, down 70 points and the DAX was trading at 4,553, down 123 points; in the Indian equities.
Mrkts still volatile, continue positive
At 1: 23 PM, the Sensex was up 123.28 points or 1.12 per cent at 11146.37, and the Nifty was up 34.95 points or 1.03 per cent at 3419.35. The markets were trading positive amid volatility.
Metal, capital goods, realty, banks, auto and telecom stocks. Reliance, Infosys, ICICI Bank, L&T and Bharti Airtel saw buying interest which positively contributed to the Sensex. The BSE midcap and smallcap indices were up over 2 per cent each.
Reliance Infra at Rs 701, Jaiprakash Asso at Rs 118.60, Tata Motors at Rs 245, Reliance Comm at Rs 225 and Tata Steel at Rs 265.25 were the top gainers on the Sensex.
Top gainers on the BSE Midcap were Berger Paints, Thomas Cook, BGR Energy, Hind Constr and UTV Software, which were up 10 to 16 per cent.
Top gainers on the BSE Smallcap saw an increase of 12 tp 19 per cent, they were Gwalior Chem, Sasken Comm, GRUH Finance, Prism Cement and Dynamatic Tech.
ITC was trading at Rs 184.90 down 1.57 per cent from its previous close of Rs 187.85.
Sun Pharma at Rs 1,181.25 down 2.02 per cent, ITC at Rs 184.90 down 1.57 per cent, NTPC at Rs 190.55 down 1.3 per cent, Tata Power at Rs 871.05 down 1.05 per cent and TCS at Rs 567.35 down 0.99 per cent, became the top losers.
The market breadth was positive. About 1919 shares advanced, 1049 shares declined, and 127 shares remain unchanged.
Mkts trading higher amid volatility
At 10:17 AM, the Sensex was trading at 11,125, up 102 points and the Nifty was trading at 3,414, up 29 points. Broader indices - BSE Midcap and Smallcap indices gained 2 per cent each.
The benchmark indices were trading higher amid volatility. Shares of banking, auto, realty, cement, metal, private power companies and stocks like Reliance Industries and L&T were witnessing buying interest. However, the sell-off in NTPC, Bharti, Infosys, Cipla and HUL capped the gains.
Reliance Industries, SBI, DLF, L&T, HDFC Bank, SAIL, TCS, Tata Motors, Unitech, Reliance Infrastructure and ICICI Bank were active on the markets.
BSE Realty, Metal, Capital Goods, Bank, Auto and Power indices went up 1.5 to 4 per cent.
Among the midcap stocks, 3M India, Hindusthan Oil Exploration, Hotel Leela, Apollo Hospital and Bajaj Finserv were up 7 to 8.6 per cent. And in the small cap arena, GRUH Finance, Sundram, Austral Coke, Aztecsoft and Ganesh Housing gained 10 to 17 per cent.
On the whole the market breadth was positive due to gain in the broader indices. About 1791 shares advanced while 1169 shares declined and nearly 135 shares remained unchanged.