27 January 2011

Nifty volatile

The Nifty bounced back smartly in opening trade today, after a fall seen on Tuesday. But those gains could not sustain for long. Indices turned volatile ahead of derivatives contracts expiry today. The Nifty was hovering around 5700 level.

Among frontliners, ITC, Axis Bank, ICICI Bank, Sun Pharma, Cipla and SBI were on buyers' radar.

However, Sterlite, Infosys, Wipro, HUL, M&M, SAIL and JSPL were witnessing selling pressure.

At 9:17 hours IST, the 50-share NSE Nifty was trading at 5,692, up 4.5 points and the 30-share BSE Sensex was at 18,979, up 10 points.

New listing - Midvalley Entertainment was trading at Rs 73.7, a premium of 5.29% over issue price of Rs 70 a share.

Dalmia Bharat Enterprises was trading at Rs 150, up 1400%.

The CNX Midcap rose 28 points to 8,271. About 447 shares advanced as against 137 shares declined on National Stock Exchange.

Midcap & Smallcap space:

Core Projects was up 3% and WWIL up 0.9%.

Tata Coffee was up 1.7%, IDBI Bank up 0.7% and LIC Housing Finance up 0.24%.

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