However the broader indices continued to outperform the benchmark indices. The BSE Midcap Index gained 2.83 pc or 134.47 points, to close at 4,890.15 and the Smallcap Index rose 5.01 pc or 276.27 points, to settle at 5,789.43. Both indices shot up 30.70 pc and 37.18 pc in eight sessions, respectively.
Breadth of the market was very strong. About 2533 shares advanced, while 344 shares declined on the BSE. Nearly 249 shares remained unchanged.
Markets trading quietly; Bharti down by 6 pc
The Sensex was trading at 13,896, down 9 points and the Nifty fell 11 points, to 4,227, at 14:17 hours IST. However, the broader indices were very strong; the BSE Midcap Index was up over 2 pc and Smallcap Index surged 4 pc.
The markets are witnessing consolidation and were not moving in either direction. Reliance Industries and ONGC were volatile. Selling was seen in technology, select power and financial stocks along with Bharti Airtel, which was down over 6 pc.
Buying interest is seen in shares of realty, metal, oil marketing companise along with Ranbaxy, Reliance Communication, ITC, BHEL and Idea.
Sensex tests 14k; Market volatile
The Sensex rose 129 points, to 14,016 and the Nifty was trading at 4,265, up 26 points, at 11:47 hours IST. The BSE Midcap Index was up 2.7 pc and the Smallcap Index gained 4 pc.
Markets are witnessing some buying interest, as uptrend was seen in shares of telecom, metal, capital goods, oil marketing, FMCG and select financial companies. But markets are still witnessing volatile trading. However, the sell-off in ONGC, Infosys, SBI, Nalco, Reliance Industries, Suzlon, PNB and Siemens capped the gains.
The market breadth was strong; about 2448 shares advanced while 347 shares declined. Nearly 331 shares were unchanged.
Markets witnessing choppy trade; Bharti gains
Indian benchmark indices which opened higher turned negative immediately on Monday, May 25.
Choppy trade is going on. Asian markets too are showing mixed trend. At 9:56 am, the Sensex was trading at 13,919, up 32 points while the Nifty fell just 3 points, to 4,235.However, the CNX Midcap went up 1.4 pc, to 5,153.
Among the frontliners, Ranbaxy, Unitech and DLF were the gainers. Telecom giant Bharti Airtel surged nearly 5 pc in the early trade.