Sensex was lacklustre in trade today, especially after seeing close above 20000 level in yesterday's trade. It was moving in a narrow range around 20,100 level. Metal, power and telecom companies' shares along with ONGC, SBI, Tata Motors, L&T, Infosys, Ranbaxy Labs, M&M, DLF and HUL were supporting the markets.
On the other side, selling in TCS, Wipro, Reliance Industries, ICICI Bank, Hero Honda, Cipla, Maruti and BHEL capped the gains.
Ambareesh Baliga of Karvy Stock Broking said he expects markets to be rangebound for a while. “I think crossing 6050 will be difficult for the market,” he felt.
He advised investors to start booking profits at the current levels. “It is prudent to book out at this point of time,” he said adding, “We could see levels of closer to 5,800-5,825 over the next two weeks.”
The 30-share BSE Sensex was trading at 20,101, with gain of 41 points and the 50-share NSE Nifty rose 9.5 poitns to 6,010. The broader indices were outperforming benchmarks; the BSE Midcap Index was up 0.5% and Smallcap up 0.7%.
Among frontliners, Sterlite Industries, Reliance Communications, Jindal Steel, Bharti Airtel, Hindalco, BPCL, Ranbaxy Labs and Sesa Goa went up 1-2.7%.
However, Hero Honda, Wipro, Maruti Suzuki, TCS, Cipla and HCL Tech declined 0.9-2%.
M&M Financial, MOIL, SBI, Tata Steel, City Union Bank, IDFC and Dr Reddy’s Labs were the most active shares on exchanges.
In midcap space, MVL, KGN Industries, Infotech Enterprise, Ballarpur Industries and Nava Bharat Ventures were up 4-5% while Money Matters, Sintex India, Hathway Cable, Sterling International and M&M Financial lost 2-5%.
In smallcap space, Suashish Diamond, Tanla Solutions, Rollatainers, Accentia Techno and Simplex Project jumped 7-8.7% while Midfield Industries, SVC Resources, Urja Global, Spectacle Info and Bheema Cements fell 5%.
Breadth was positive; about 1694 shares advanced while 856 shares declined on the Bombay Stock Exchange. Nearly 917 shares were unchanged.
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