Mumbai, Apr 26: Benchmark Nifty ended higher for the fifth consecutive day supported by marginal gains amidst volatility. Global cues helped Nifty to trade above 5300 mark throughout the session.
Sensex closed at 17745, up 51 points and the Nifty ended at 5322, up 18 points.
Post Sterlite's Q4 numbers, metal along with technology, cement, private financial and select auto companies' shares witnessed buying interest and kept the markets positive.
However, the gains were limited to an extent by selling in realty and pharma companies' shares along with Reliance Industries post Q4 numbers, SBI, ICICI Bank, Maruti, ABB, Hero Honda, Reliance Infrastructure and Siemen.
Sensex choppy; Sterlite Industries up
Sensex was choppy with positive bias. Amidst volatility, benchmark indices continued to trade in a narrow band. PSU, metal, IT, telecom and power stocks were witnessing buying interest. However, realty, oil&gas and pharma stocks were witnessing selling.
At 12.07 pm, Sensex was up 77.31 points or 0.44pc at 17771.51, and the Nifty was up 20.75 points or 0.39pcat 5324.85.
Among largecaps, Sterlite Industries was the top gainer ahead of its results. According to poll, the company is expected to gain 101pc net profit, YoY. Hindalco, Axis Bank, HDFC and Tata Steel shot up 2 to 3pc, while Sun Pharma, DLF, Maruti Suzuki, Reliance and ICICI Bank down 1 to 4pc were on the losing side.
Tech major Infosys was trading at Rs 2,738.10 up 0.37pc from its previous close of Rs 2,728.10. Cigarette major ITC was trading at Rs 267.15 up 0.11pc from its previous close of Rs 266.85. Refinery major HPCL was trading at Rs 302.20 down 0.46pc from its previous close of Rs 303.60.
Index heavyweight Reliance was trading at Rs 1,073.20 down 1.3pc from its previous close of Rs 1,087.35. Index heavyweight Hindustan Lever was trading at Rs 240.00 up 0.5pc from its previous close of Rs 238.80.
Top gainers on the BSE Midcap: Indian Bank, UTV Software, Guj NRE Coke, SKF India and Nirma surged 4 to 8pc.
Top losers on the BSE Midcap: Balrampur Chini, Sterlite Technologies, State Bank of Mysore, Novartis India and United Bank slipped 2 to 3pc.
Top gainers on the BSE Smallcap: Edserv Softsyst, Henkel India, OM Metals Infra, ABG Infralogist and Manaksia shot up 7 to 13pc.
Top losers on the BSE Smallcap: Guj Amb Exports, Supreme Petro, Solar Industries, Graviss Hosp and Piramal Glass were down 5 to 10pc.
Nifty trading above 5300; Axis Bank gains 3pc
Nifty was trading above 5300 amidst positive bias. The market started green ahead of the expiry week.
Unaffected by the disappointing results from Reliance Industries, the benchmark indices gained in the early trade.
At 10:40 am, Sensex was up 89.03 points or 0.50pc at 17783.23, and the Nifty was up 28.05 points or 0.53pc at 5332.15.
Among the largecaps, Axis Bank was the top gainer with close to 3pc gain. Jaiprakash Associates, Hindalco, HDFC and SAIL were up 2 to 2.4pc. Sun Pharma, DLF, ABB, Reliance Industries and ICICI Bank down 0.75 to 3.45pc were on the losing side.
Index heavyweight Reliance was trading at Rs 1,074.35 down 1.2pc from its previous close of Rs 1,087.35. Tech major Infosys was trading at Rs 2,737.50 up 0.34pc from its previous close of Rs 2,728.10. Refinery major HPCL was trading at Rs 303.70 up 0.03pc from its previous close of Rs 303.60.
Hindustan Lever was trading at Rs 240.00 up 0.5pc from its previous close of Rs 238.80. Cigarette major ITC was trading at Rs 267.70 up 0.32pc from its previous close of Rs 266.85.
Top gainers on the BSE Midcap: Gujarat NRE Coke, Indian Bank, UTV Software, Nirma and SKF India shot up 5 to 7pc.
Top losers on the BSE Midcap: State Bank Mysore, Religare Enterprises, Sterlite Technologies, Polaris and Allcargo Global slipped 1.6 to 3.2pc.
Top gainers on the BSE Smallcap: Edserv Softsystems, Genesys Int, Datamatics Global, ABG Infralogistics and Automotive Axle jumped 6.4 to 10pc.
Top losers on the BSE Smallcap: Guj Amb Exports, Supreme Petro, Graviss Hosp, Visa Steel and Allied Digital tanked 3.4 to 10pc.
Nifty opens positive, Reliance Infra dips
Benchmark Nifty opened on a positive note supported by good Asian cues. Buiyng interest were seen financial, auto, infrastructure and metal companies' shares. However Reliance dipped post numbers.
At 9:02 am, Sensex was trading at 17784, up 90 points and the Nifty was at 5328, up 25 points.
Among the frontliners, Reliance Industries lost 2pc post disappointing numbers.
Sun Pharma tanked 5pc; US district court directed Sun Pharma to stop selling its generic version of Eloxatin from Jun 30, 2010.
However, ICICI Bank and HDFC Bank shot up post good earnings.
Midcap & smallcap space:
GMR Industries gained 6.6pc as EID Parry bought majority stake in the company and made open offer for GMR at Rs 110.69/share.
India Cements went up 2.2pc, owning IPL team Chennai Super King win the final match against Mumbai Indians.
India Infoline, Persistent Systems and Binani Cement (buyback news) rose 2pc each post strong earnings.
Graphite and Spice Mobiles rose 2 to 3pc.
Zee News tanked 2pc.
Areva T&D fell 2pc ahead of numbers.
Asian markets were trading higher. Nikkei gain 2pc. Hang Seng , Kospi and Taiwan Weighted 1 to 1.8pc. Straits Times and Jakarta gained 0.5pc. Shanghai was flat.