Indian markets settled higher onWednesday reversing earlier losses. Nifty witnessed a highly volatile session today leading to indecision in the market. At the close, the benchmark 30-share index, BSE Sensex gained 45.04 or 0.23% at 20,026.61 with 16 components posting rise. while the broad based NSE Nifty closed flat with a gain of 5.80 points or 0.10%, at 6,054.30.22 components posting rise.
Commenting on the outlook, Nidhi Sarswat, senior research analyst, Bonanza Portfolio said, ''Overall trend continues to be bullish till Nifty trades above 5,850 level. Positive global cues, Liquidity and a probable rate cuts along with Q3 results are key factors which shall be driving the near term trend. Technically, 6,075 level is crucial deciding level in near term, and index is likely to witness further rally above this level. In coming sessions, below 6,050, likely support levels are 6,020-5,950, while above 6,075, likely target is 6,100-6,150.''
Sensex Movers
I T C contributed rise of 25.49 points
in the Sensex. It was followed by Bharti Airtel (24.17 points),
Housing Development Finance Corporation (13.63 points), I C I C I
Bank (13.48 points) and H D F C Bank (6.44 points).
However, Hindustan Unilever contributed fall of 27.61 points in the Sensex. It was followed by Tata Motors (14.47 points), Oil & Natural Gas Corporation (9.71 points), NTPC (3.4 points) and Hindalco Industries (3 points).
Major gainers in the 30-share index were Bharti Airtel (4.44%), Tata Power Company (2.38%), I T C (1.37%), Hero Motocorp (1.02%), Housing Development Finance Corporation (0.92%), and I C I C I Bank (0.85%).
On the other hand, Hindustan Unilever (4.43%), Tata Motors (1.98%), Hindalco Industries (1.54%), G A I L (India) (1.32%), Bajaj Auto (1.24%), and Oil & Natural Gas Corporation (1.14%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -0.91% and -0.90% respectively.The major losers in the BSE Midcap were Allahabad Bank(2.74%), CORE Education and Technologies (0.88%), Allcargo Logistics (0.87%), A B G Shipyard (0.85%) and Aban Offshore (0.84%).The major losers in the BSE Smallcap were A2Z Maintenance & Engineering Services (5.57%), Adhunik Metaliks (2.75%), Reliance MediaWorks (1.71%), Trident (1.44%) and Advanta India (1.06%).
Sectors in Limelight
The Realty index was at 2,182.67, down by 52.34 points or by 2.34%. The major losers were Housing Development and Infrastructure (14.33%), Anant Raj (3.23%), Indiabulls Real Estate (0.98%), Godrej Properties (0.82%) and D L F (0.73%).
The PSU index was at 7,700.82, down by 77.91 points or by 1%. The major losers were Bank Of India(3.6%), Allahabad Bank (2.74%), Andhra Bank (2.31%), Bank Of Baroda (0.54%) and Balmer Lawrie & Company (0.54%).
The Consumer Durables index was at 7,487.62, down by 70.68 points or by 0.94%. The major losers were Bajaj Electricals (2.43%), Blue Star (1.78%), Gitanjali Gems (0.79%), Symphony (0.78%) and Whirlpool Of India (0.69%).
On the other hand, the TECk index was at 3,820.45, up by 24.44 points or by 0.64%. The major gainers were Bharti Airtel (4.44%), G T L (2.24%), Dish TV India (1.36%), D B Corp (1.14%) and Idea Cellular (0.72%).
Market Breadth
Market breadth was negative with 1,112 advances against 1,855 declines.
Value and Volume Toppers
Housing Development and Infrastructure topped the value chart on the BSE with a turnover of Rs. 1,605.86 million. It was followed by Hindustan Unilever (Rs. 727.52 million), Reliance Communications (Rs. 449.43 million) and Maruti Suzuki India (Rs. 437.35 million).
The volume chart was led by Housing Development and Infrastructure with trades of over 16.68 million shares. It was followed by Unitech (7.54 million), Reliance Communications (5.10 million) and Suzlon Energy (4.84 million).
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