MUMBAI: Trade turned choppy as wary investors chose to stay away from the market. Realty and metal shares remained weak but information technology counters provided the much needed support.
The positive close on Wall Street, and with most Asian markets closed for the Chinese New Year, there is no additional pressure on the equities, at least from global shores.
“Volatility can be the order of the day; an intra-day upside could come in below the 5,113 level while significant support at lower levels (5005) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 5550+ level and support comes in at 4,820,” said Asit C. Mehta in a note.
At 11:29 am, Bombay Stock Exchange’s Sensex was at 17,507.55, down 0.11 per cent or 19.38 points, slipping from a high of 17,688.73 in trade so far. The low was 17,373.69.
National Stock Exchange’s Nifty was down 0.43 per cent or 21.85 points at 5111.40. The index swung between a range of 5173.85 and 5078.25 so far.
Secondline shares took a sharp knock. BSE Midcap and Smallcap Index were down 1.79 per cent and 2.27 per cent, respectively.
Declines in DLF (down 4.24 %), L&T (3.04%), Bajaj Auto (2.47%), Tata Steel (1.86%), HDFC (1.54%), ICICI Bank (1.47%) kept the indices subdued.
Biggest large cap gainers were Infosys (up 4.47%), TCS (3.31%), Satyam Computers (3.26%), Wipro (1.79%), Ranbaxy (1.43%) and Hindustan Unilever (1.08%).
Market breadth on BSE showed 2,005 declines against 433 advances.
The positive close on Wall Street, and with most Asian markets closed for the Chinese New Year, there is no additional pressure on the equities, at least from global shores.
“Volatility can be the order of the day; an intra-day upside could come in below the 5,113 level while significant support at lower levels (5005) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 5550+ level and support comes in at 4,820,” said Asit C. Mehta in a note.
At 11:29 am, Bombay Stock Exchange’s Sensex was at 17,507.55, down 0.11 per cent or 19.38 points, slipping from a high of 17,688.73 in trade so far. The low was 17,373.69.
National Stock Exchange’s Nifty was down 0.43 per cent or 21.85 points at 5111.40. The index swung between a range of 5173.85 and 5078.25 so far.
Secondline shares took a sharp knock. BSE Midcap and Smallcap Index were down 1.79 per cent and 2.27 per cent, respectively.
Declines in DLF (down 4.24 %), L&T (3.04%), Bajaj Auto (2.47%), Tata Steel (1.86%), HDFC (1.54%), ICICI Bank (1.47%) kept the indices subdued.
Biggest large cap gainers were Infosys (up 4.47%), TCS (3.31%), Satyam Computers (3.26%), Wipro (1.79%), Ranbaxy (1.43%) and Hindustan Unilever (1.08%).
Market breadth on BSE showed 2,005 declines against 433 advances.
No comments:
Post a Comment