The Nifty was sailing through choppy waters at 14:07 hours. Capital goods, FMCG, metal and select healthcare companies' shares were witnessing selling pressure. TCS, ONGC, Bharti, Tata Motors, ICICI Bank and PNB too were down.
London brent crude also touched USD 116 a barrel again, gained by USD 1.25 a barrel. Even the crude oil was trading near to USD 103 a barrel on the New York Mercantile Exchange.
Praveen Kumar, head-south Asia (Oil and Gas Team), FACTS Global Energy said the crude oil movement dependent on geopolitical tensions. “Brent is more reflective of physical crude market,” he said adding, “WTI prices more reflective of fundamentals at this point in time.”
Kumar expects crude to trade around USD 105 a barrel in 2011.
However, benchmarks were getting support from Infosys, Reliance Industries, HDFC, HDFC Bank, SBI, NTPC, Hero Honda and Maruti Suzuki. Reliance Power and Tata Power were the biggest gainers with 2.5-4% gains.
The 30-share BSE Sensex was trading at 18,522, up 32 points and the 50-share NSE Nifty gained 10 points at 5,546.
Bajaj Finserv, SBI, L&T, Tata Steel, Hero Honda, Infosys and Reliance Industries were the most active shares on exchanges.
In midcap space, Essar Shipping was locked at 10% upper circuit. Stride Arcolab, Bajaj Finserv, Aurobindo Pharma and Anant Raj Inds gained 4-5% while Money Matters, India Infoline, Ramky Infra, Gammon India and Dish TV India lost 3.5-4%.
In smallcap space, Vindhya Telelink, Nectar Life, Jindal Worldwid, Sequent Scient and Lloyds Metals rallied 9-12.5% whereas SML Isuzu, Atco Corp, Solar Inds, Ester Inds and Prabhav Industries fell 5%
Praveen Kumar, head-south Asia (Oil and Gas Team), FACTS Global Energy said the crude oil movement dependent on geopolitical tensions. “Brent is more reflective of physical crude market,” he said adding, “WTI prices more reflective of fundamentals at this point in time.”
Kumar expects crude to trade around USD 105 a barrel in 2011.
However, benchmarks were getting support from Infosys, Reliance Industries, HDFC, HDFC Bank, SBI, NTPC, Hero Honda and Maruti Suzuki. Reliance Power and Tata Power were the biggest gainers with 2.5-4% gains.
The 30-share BSE Sensex was trading at 18,522, up 32 points and the 50-share NSE Nifty gained 10 points at 5,546.
Bajaj Finserv, SBI, L&T, Tata Steel, Hero Honda, Infosys and Reliance Industries were the most active shares on exchanges.
In midcap space, Essar Shipping was locked at 10% upper circuit. Stride Arcolab, Bajaj Finserv, Aurobindo Pharma and Anant Raj Inds gained 4-5% while Money Matters, India Infoline, Ramky Infra, Gammon India and Dish TV India lost 3.5-4%.
In smallcap space, Vindhya Telelink, Nectar Life, Jindal Worldwid, Sequent Scient and Lloyds Metals rallied 9-12.5% whereas SML Isuzu, Atco Corp, Solar Inds, Ester Inds and Prabhav Industries fell 5%
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