Mumbai, Mar 23: The benchmark Nifty ended a volatile session modestly higher. It had opened strong in the early trade post correction on Monday on rate hike concerns.
The volumes spiked ahead of futures and options (F&O) expiry. The March 2010 F&O contracts will expire on Thursday.
Reliance Industries, ONGC, HDFC Bank, Infosys, SBI, Cipla along with metal and infrastructure companies' shares witnessed buying interest. However, selling was seen in telecom, auto and cement stocks along with DLF, Wipro and ICICI Bank.
The Sensex closed at 17451, up 40 points and the Nifty ended at 5225, up 20 points.
Benchmark Nifty closed the session modestly higher after opening the trade on positive global cues ahead of the futures and options (F&O) expiry on Mar 25.
Sensex closed at 17451, up 40 points and Nifty ended at 5225, up 20 points.
Buying interest were seen in Reliance Industries, ONGC, HDFC Bank, Infosys, SBI, Cipla along with metal and infrastructure companies' shares.
However, telecom, auto and cement stocks along with DLF, Wipro and ICICI Bank witnessed selling.
Market breadth favored declines. About 1324 shares advanced while 1602 shares dipped on the BSE. Nearly 295 shares remained the same.
The most active shares among the bourses were ARSS Infra, Man Infra, Syncom Healthcare, Tata Motors, SBI, Reliance Industries, ICICI Bank and JSW Steel.
Top percent gainers - Magicut Tools, NELCO, Bajaj Steel, Bal Pharma and Piramal Life went up 20pc. Shyam Telecom gained 19.50pc and Aksh Optifibre was up 14.96pc.
In the midcap space, Cadila Health, Asian Star, Kirloskar Oil, Alstom Projects and Havells India rose 3.8 to 4.6pc, while Andrew Yule, Shree Renuka, Core Projects, Polaris and UB Holdings dipped 3 to 3.7pc.
In the smallcap space, Money Matters went up 20pc. Lloyds Metals and Religare Tech surged 10 to 11.7pc.
Ahead of the F&O settlement, the markets witness turnover of Rs 1,35,287.10 crore. This included Rs 12,404.33 crore from the NSE cash segment, Rs 1,18,690.10 crore from the NSE F&O and the balance Rs 4,192.67 crore from the BSE cash segment.
Nifty hovers around 5200; auto, realty dip
Nifty trading in red and was hovering around 5200. Pharma, metal and power stocks were witnessing buying interest, while realty, auto and FMCG stocks were seeing selling interest.
At 1:11 pm, Sensex slipped 27.76 points or 0.16pc at 17382.81, and the Nifty dipped 1.15 points or 0.02pc at 5204.05.
Among the largecaps, the top gainer was Jindal Steel. Other gainers were Cipla, HDFC Bank, Axis Bank and Ranbaxy Labs up 1.5 to 2.4pc.
However, the losers were Bharti Airtel, IDFC, Idea Cellular, Tata Motors and DLF down 1.6 to 3pc.
Index heavyweight Reliance was trading at Rs 1,081.10 up 0.67pc from its previous close of Rs 1,073.90. Hindustan Lever was trading at Rs 228.55 up 0.37pc from its previous close of Rs 227.70.
Tech major Infosys was trading at Rs 2,770.10 up 0.48pc against its previous close of Rs 2,756.75.
Cigarette major ITC was trading at Rs 258.35 down 1.03pc from its previous close of Rs 261.05. Refinery major HPCL was trading at Rs 314.75 down 0.79pc from its previous close of Rs 317.25.
Top gainers on the BSE Midcap: Sun Pharma Advance, Havells India, M&M Financial, Redington and Guj Flourochem gained 3 to 5pc.
Top losers on the BSE Midcap: Polaris, Core Projects, Shree Renuka, Monsanto India and Godrej Consumer slipped 2 to 3pc.
Top gainers on the BSE Smallcap: Piramal Life, Suven Life Science, Spectacle Inds, Panyam Cements and Lloyds Metals rose 7 to 20pc.
Top losers on the BSE Smallcap: Maharashtra Scooters, JMD Telefilms, Subhkam Capital, Thinksoft and Sasken Communication down 3 to 5pc.
Sensex volatile in trade; Bharti, DLF, SBI dip
At 10:30 am, the 30-share BSE Sensex was volatile in trade with positive bias.
The Sensex was trading at 17444, up 33 points and the Nifty was down 12 points at 5217.
The market breadth was positive; about 859 shares advanced while 331 shares declined on the NSE.
Telecom, auto and cement stocks along with DLF, ITC, IDFC, Sun Pharma, HCL Tech, SBI and HDFC were seeing selling pressure.
Reliance Industries, ONGC and Cairn India from the oil & gas space gained 1 pc each.
Among midcap stocks, Lanco Infratech, Areva T&D, Motherson Sumi, Marico, GE Shipping and India Cements gained 2.3-3.5 pc.
However, Godrej Consumer, Shriram Transport, Ashok Leyland, Balrampur Chini, Deccan Chronicle, Tata Tea and Bajaj Hindusthan lost 1-1.8 pc.
Nifty opens 34 pts higher; metal, tech up
Benchmark Nifty recovered nearly all Mar 22 losses, supported by positive global cues. The early gainers in the trade were metal, banking, oil & gas, auto, technology and capital goods.
At 9:02 am, Nifty was trading at 5239, up 34 points and the Sensex was at 17522, up 112 points. The CNX Midcap gained 69 points to 7611 and the BSE Smallcap rose 53 points to 8476.
Among the frontliners, buying interest were seen in BPCL, Reliance Communications, Idea, Bharti, Axis Bank, Cairn, Tata Steel, Sterlite Industries, DLF, Cipla, Ranbaxy Labs, Suzlon Energy, Jaiprakash Associates and HDFC Bank. On the losing side was ACC.
Midcap & Smallcap space:
The Health Care Bill could possibly have a positive effect on Pharma stocks.
Suven Life Sciences rallied 8pc and Shasun Chemical gained 4pc. SPARC rose 1pc and Piramal Life gain 2pc.
Jindal Cotex shot up 5.5pc, after approval of fund raising of up to Rs 150 crore via rights issue and upto USD 50 million via GDR/FCCB issue. It will raise FII limit to 74pc from 24pc.
S Kumars Nationwide rose 1pc. Alok Industries gained 0.5pc. The company plans to raise Rs 350-460 crore via this issue.
Cadila Health is in pact with US-based NIH to develop new HPV (human papilloma virus) Vaccine. The stock gained 2pc.
Pipavav, Jubilant Food and Hanung Toys rose over 2pc. However, NMDC slipped 4pc to Rs 330.
Asian markets were trading mixed. Hang Seng and Jakarta rose 1 to 1.5pc. Straits Times, Kospi and Taiwan gained 0.3 to 0.5pc. However, Shanghai and Nikkei fell just 0.2% each. The passing of the Health Care Bill helped the US markets to gain in later part of the day.