Mkts close with marginal gains

Mumbai, May 12: The benchmark Nifty closed with marginal gains after a volatile session, especially due to lack of global cues as European debt worries eased a bit for the time being post European Union/IMF's USD one trillion package.

The markets completely shrugged off less-than-expected Index of Industrial Production (IIP) numbers for the month of March 2010.

The Sensex closed at 17195, up 54 points and the Nifty was at 5156, up 20 points.

Markets end with marginal gains following a violatile session, more due to lack of global cues as European debt worries relaxed a bit for the time being post European Union/IMF's USD one trillion package.

The Sensex closed at 17195, up 54 points and the Nifty was at 5156, up 20 points.

4:21 PM

Nifty hovers around 5100 with negative bias

At 1:08 pm, Sensex was down 29.23 points or 0.17pc at 17112.30, and the Nifty up 2.85 points or 0.06pc at 5139.00. FMCG, pharma, IT, banks and realty stocks witnessed buying interest.

Metal, telecom and power stocks were trading in red.

Among the largecaps, Kotak Mahindra, Wipro, IDFC, ITC and Hero Honda surged 1 to 1.3pc, while Idea Cellular, Bharti Airtel, Mahindra and Mahindra, Jaiprakash Associates and Sterlite Industries slipped 2.6 to 8pc.

Index heavyweight Reliance was trading at Rs 1,065.85 down 0.13pc from its previous close of Rs 1,067.20. Refinery major HPCL was trading at Rs 324.00 down 1.08pc from its previous close of Rs 327.55. Tech major Infosys was trading at Rs 2,665.50 up 0.09pc from its previous close of Rs 2,663.15.

Cigarette major ITC was trading at Rs 262.00 up 1.16pc from its previous close of Rs 259.00. Hindustan Lever was trading at Rs 237.20 up 0.59pc from its previous close of Rs 235.80.

Top gainers on the BSE Midcap: Bajaj Finserv, Dalmia Cement, Jubilant Organosys, Shriram City and Berger Paints were up 3-4%.

Top losers on the BSE Midcap: Piramal Healthcare, Gee Kay Finance, OnMobile Global, Jain Irrigation and TataTeleservice were down 4 to 6pc.

Top gainers on the BSE Smallcap: Infinite Computer Solutions, Avaya Global Connect, Bhansali Engineering, Su-raj Diamonds and Spectacle Industries gained 5 to 13pc.

Top losers on the BSE Smallcap: Panoramic Universal, Seamec, Harrisons Malayalam, Indian Metals and INOX Leisure slipped 6 to 9pc.

2:22 PM

Sensex consolidates; telecom dips 5pc

Benchmark Sensex was consolidating at 17140 levels because of lack of gloal cues. Telecom players like Bharti Airtel and Idea Cellular slipped over 5pc with possible financial burden post TRAI recommendations on spectrum. Reliance Communications dipped 1pc.

At 10:28 am, Sensex was trading at 17156, up 15 points and the Nifty was at 5140, up 4 points.

As per TRAI recommendations, Bharti may have to Rs 5000 crore, while Idea Cellular could have to part with Rs 1800 crore.

Metal companies' shares coupled with ICICI Bank, ONGC, M&M, BHEL, ACC, Suzlon Energy and PNB were under pressure.

However, buying in healthcare, FMCG, technology, auto and select financial companies' shares along with heavyweight Reliance Industries capped the loses to a major extent.

In the midcap space, Dalmia Cement, Bajaj Finserv, Usha Martin, Sobha Developer and Kwality Dairy surged 3 to 3.7pc while OnMobile Global, Piramal Health, Balrampur Chini, Tata Teleservice and Punj Lloyd slipped 2.5 to 3.4pc.

In the smallcap space, Infinite Comp, Bhansali Engg, GIC Housing Finance, Su-raj Diamonds and Glodyne Tech rose 5 to 10pc. On losing side were Ushdev International, Panoramic Universal, Harrisons Mal, Seamec and Maharashtra Polybutenes down 5 to 10.5pc.

12:09 PM

Mkts opens flat; RIL shines

The benchmark Nifty opened on a quiet note with positive bias on the back of mixed trade in global markets. Buying were witnessed in technology, capital goods, pharma, select banking and auto companies' shares.

However, telecom and cement companies' shares were under pressure.

At 9:02 am, the Sensex was trading at 17175, up 34 points and the Nifty was at 5144, up 8 points.

Among the frontliners, the early gainers were Ranbaxy Labs up 1.2pc on good results. Hindalco, Hero Honda, Axis Bank, Kotak Mahindra Bank and Reliance Industries and IDFC.

Bharti Airtel and Idea Cellular (also deleted from MSCI index) lost 5pc on TRAI recommendations. Reliance Communications and MTNL were marginally in red.

Bajaj Auto gained ahead of its quarterly numbers.

Midcap & Smallcap space:

Adani Enterprises, Piramal Healthcare and REC rose 2 to 3pc, as they added into MSCI index.

Recently listed Talwalkars Fitness went up 2pc.

Bajaj Finserv shot up 2pc post results. Dhanalaxmi Bank surged 2.85pc on fund raising plan via QIP.

Harrisons Mal dipped 3.5pc as it reported loss in Jan-Mar quarter.

FACT, National Fertiliser and Chambal Fertiliser shot up 1 to 3pc.

Global cues:

Asian markets were trading mixed. Nikkei, Taiwan and Jakarta rose 0.5 to 1.2pc. However, Shanghai, Hang Seng and Straits Times were flat with negative bias.

9:30 AM

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