The 50-share NSE Nifty has consistently been volatile in trade today due to two-way move. On one side, heavyweights like Reliance Industries, SBI and ICICI Bank, ahead of their numbers, were helping the markets. BHEL after its strong numbers, NTPC, M&M and Bajaj Auto along with Anil Dhirubhai Ambani Group companies' shares too followed the same trend.
However, selling continued in ONGC, Wipro, Infosys, Bharti Airtel, HDFC and HDFC Bank along with metal, cement, healthcare, realty and FMCG companies' shares.
At this point in time, Arjun Divecha of GMO said they are heavily underweight both India and China in their emerging markets strategy. This is primarily due to high valuations in both countries relative to other emerging markets, he says. "In addition, central banks in both countries appear to be behind the curve and they will have to act strongly to bring inflation down."
The Sensex was trading at 18,999, down 47 points and the Nifty fell 15 points to 5,696.
Among frontliners, Wipro was trading at Rs 456.35, down 4.53% (after quarterly numbers), ONGC was at Rs 1,108.35, down 2.27% (Oil spill reported from ONGC`s fields off Mumbai coast); Sterlite Industries was at Rs 177.40, down 1.74%; DLF was at Rs 252, down 1.7%; ITC was at Rs 168.95, down 1.63% (after quarterly numbers); HCL Tech was at Rs 499.50, down 2.22% and ACC was at Rs 995.05, down 2.14%.
However, Reliance Infrastructure, Reliance Communications, SBI, Reliance Industries, BHEL, Reliance Power and Sesa Goa gained 1.3-2.9%.
In midcap space, Motilal Oswal rallied 12%. Cholamandalam, HMT, BOC India and Peninsula Land gained 4.5-5% while Financial Tech, Persistent, KGN Industries, Kirloskar Brothers and Polaris slipped 3.8-6%.
In smallcap space, Valecha Engg, Lloyds Metals, Hanung Toys, Hyderabad Inds and Splash Media rallied 8-17% whereas Rossell Tea, SML Isuzu, Spectacle Info, Prabhav Indust and Centrum Finance lost 4.6-5%.
However, selling continued in ONGC, Wipro, Infosys, Bharti Airtel, HDFC and HDFC Bank along with metal, cement, healthcare, realty and FMCG companies' shares.
At this point in time, Arjun Divecha of GMO said they are heavily underweight both India and China in their emerging markets strategy. This is primarily due to high valuations in both countries relative to other emerging markets, he says. "In addition, central banks in both countries appear to be behind the curve and they will have to act strongly to bring inflation down."
The Sensex was trading at 18,999, down 47 points and the Nifty fell 15 points to 5,696.
Among frontliners, Wipro was trading at Rs 456.35, down 4.53% (after quarterly numbers), ONGC was at Rs 1,108.35, down 2.27% (Oil spill reported from ONGC`s fields off Mumbai coast); Sterlite Industries was at Rs 177.40, down 1.74%; DLF was at Rs 252, down 1.7%; ITC was at Rs 168.95, down 1.63% (after quarterly numbers); HCL Tech was at Rs 499.50, down 2.22% and ACC was at Rs 995.05, down 2.14%.
However, Reliance Infrastructure, Reliance Communications, SBI, Reliance Industries, BHEL, Reliance Power and Sesa Goa gained 1.3-2.9%.
In midcap space, Motilal Oswal rallied 12%. Cholamandalam, HMT, BOC India and Peninsula Land gained 4.5-5% while Financial Tech, Persistent, KGN Industries, Kirloskar Brothers and Polaris slipped 3.8-6%.
In smallcap space, Valecha Engg, Lloyds Metals, Hanung Toys, Hyderabad Inds and Splash Media rallied 8-17% whereas Rossell Tea, SML Isuzu, Spectacle Info, Prabhav Indust and Centrum Finance lost 4.6-5%.
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