Heavy buying pushes Markets to close Higher

Posted By: Staff
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Mumbai, Jan 30: The markets saw good buying in the second half of the trading session after a weak start in the morning and closed sharply higher on the first day of Feb series. The Nifty stepped back above the 2,850 level while the Sensex ended above the 9,400 level.

Markets closed higher with help of heavy buying in oil & gas, banking, realty, telecom, metal, select auto, capital good and power stocks. Midcap and smallcap stocks too followed similar trend. The 50-share NSE Nifty has tested an intraday high of 2881 and low of 2774.10, before closing at 2874.80, up 1.8 per cent or 50.85 points over previous close. The 30-share BSE Sensex ended at 9,424.24, up 187.96 points or 2.04 per cent, after hitting a high/low of 9,438.31 and 9,087.36, respectively during the day.
04:00 PM

Markets bounce back; Nifty tests 2850

Markets continue to portray mixed trend and are trading higher amid volatility on support from oil & gas, realty, FMCG, select power, metal stocks as well as L&T, SBI, Ranbaxy Labs, HDFC Bank, PNB and Suzlon Energy. The Sensex went up 86 points at 9,322 and the Nifty gained 26 points at 2851, at 2:15 hours IST. BSE Midcap and Small Cap indices rose 0.4 pc each.
02:30 PM

Markets volatile; SBI, R-COMM gain

The Indian markets recovered from the lows of the opening trade and the indices are trading with some volatility. It is supported by oil & gas, FMCG, realty, cement stocks as well as SBI, Reliance Communication, Maruti, Ranbaxy and Cairn India.

But selling pressure still remains in the capital goods, power, technology, select auto stocks as well as Bharti, Sun Pharma, ICICU bank, Tata Steel, SAIL and HDFC. The BSE Sensex went up just 6.48 points to 9,242 and the NSE Nifty gained 2 points at 2,825, at 11:52 hours IST. BSE Midcap and Small cap indices are flat.
12:00 PM

Markets open red on Weak global cues

The weak global cues pushed the Indian benchmark indices to open red. The disappointing earnings from the frontline companies also added pressure. At 9:56 am, the Sensex went down 141 points at 9,095 and the Nifty fell 39 points at 2,785. CNX Midcap tumbled 47 points at 3,283.

The Nifty breaks below 2800 mark. Banking, power, capital goods, metal, realty, teleccom, select technology and oil stocks are under pressure. Among the frontliners, Suzlon Energy, BHEL, ABB, Reliance Communication, Tata Motor, Power Grid, ICICI Bank, Unitech, DLF, Tata Steel, NTPC, Nalco, Sun Pharma, HDFC and Reliance Industries are weak while HCL Tech, Cairn, Punjab National Bank and ONGC are trading on the higher side.

Among the midcap stocks, GMR Infrastructure, Glenmark, Satyam have lost ground while Subex, Indiabulls Financial and Kingfisher Airlines surged.

Friday, Jan 30 also saw the Asian markets declining for the first time in last four days. Nikkei was down 3.6 pc. US markets declined after 4-days of gain as US new-home sales fell to all-time low, number of Americans receiving jobless benefits surged to a record and companies continue to report dismal set of numbers.
10:00 AM

OneIndia News (With inputs from Agencies)

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