Equity benchmarks were extremely volatile in trade today at 12:33 hours. Heavyweight Reliance Industries was quite supportive; gained over 1.5% after DGH report. RIL gas output may touch 67 mmscmd by April and RIL will have 22 gas producing wells in April versus 18 now, says Directorate General of Hydrocarbons (DGH).
Auto, capital goods, realty and Anil Dhirubhai Ambani Group companies' shares too gained. TCS, ICICI Bank, Kotak Mahindra Bank and SAIL were trading higher as well.
However, healthcare, steel (barring SAIL) and FMCG companies' shares were witnessing selling pressure. Even Infosys, Bharti, HDFC, Cairn, ONGC, NTPC, SBI and Axis Bank were putting pressure on the markets.
The 30-share BSE Sensex was trading at 18,421, down 19 points and the 50-share NSE Nifty fell just 9 points to 5,511. However, the broader indices were marginally in green.
Currently global markets too were consolidating as they were closely watching the crude oil prices movement. Asian markets were flat to positive in trade.
London Brent crude cooled off to USD 112.3 a barrel from USD 115 a barrel in previous trade as Libya tensions eased for the time being and OPEC members reassured on ample spare capacity and discussions were on for a possible emergency meet. Saudi Oil Ministry said has enough spare capacity for oil markets.
In the midcap space, Bajaj Finserv, Shree Global, Mcleod Russel, Cox & Kings and S Kumars Nationwide 6-8% while Glenmark, Kalpataru Power, Monnet Ispat, Nava Bharat Ventures and India Infoline lost 2-4%.
In smallcap space, Entegra surged 20% as board approved equity raising upto Rs 1500 crore. Bhagwati Banquet, Tata Coffee, Midfield Inds and Talwalkars Fitness gained 9-13% whereas Urja Global, Shasun Pharma, R M Mohite, Lloyds Metals and Shree Nath Comm fell 4-10%.
Munish Varma, head of global markets at Deutsche Bank India said investors generally have been consciously optimistic on India. "There is very little debate and it is almost the consensus view that the structural growth story of India remains intact. However, people are concerned in the near-term on a couple of different trances, I know it is a well flat concern, oil prices leading to higher inflation, some concerns on the current account deficit and then some concerns regarding fiscal consolidation. But overall mood continues to be positive, optimistic but that is for the longer-term. In the short-term, there are these headwinds and there are these challenges that the market has to deal with."
Auto, capital goods, realty and Anil Dhirubhai Ambani Group companies' shares too gained. TCS, ICICI Bank, Kotak Mahindra Bank and SAIL were trading higher as well.
However, healthcare, steel (barring SAIL) and FMCG companies' shares were witnessing selling pressure. Even Infosys, Bharti, HDFC, Cairn, ONGC, NTPC, SBI and Axis Bank were putting pressure on the markets.
The 30-share BSE Sensex was trading at 18,421, down 19 points and the 50-share NSE Nifty fell just 9 points to 5,511. However, the broader indices were marginally in green.
Currently global markets too were consolidating as they were closely watching the crude oil prices movement. Asian markets were flat to positive in trade.
London Brent crude cooled off to USD 112.3 a barrel from USD 115 a barrel in previous trade as Libya tensions eased for the time being and OPEC members reassured on ample spare capacity and discussions were on for a possible emergency meet. Saudi Oil Ministry said has enough spare capacity for oil markets.
In the midcap space, Bajaj Finserv, Shree Global, Mcleod Russel, Cox & Kings and S Kumars Nationwide 6-8% while Glenmark, Kalpataru Power, Monnet Ispat, Nava Bharat Ventures and India Infoline lost 2-4%.
In smallcap space, Entegra surged 20% as board approved equity raising upto Rs 1500 crore. Bhagwati Banquet, Tata Coffee, Midfield Inds and Talwalkars Fitness gained 9-13% whereas Urja Global, Shasun Pharma, R M Mohite, Lloyds Metals and Shree Nath Comm fell 4-10%.
Munish Varma, head of global markets at Deutsche Bank India said investors generally have been consciously optimistic on India. "There is very little debate and it is almost the consensus view that the structural growth story of India remains intact. However, people are concerned in the near-term on a couple of different trances, I know it is a well flat concern, oil prices leading to higher inflation, some concerns on the current account deficit and then some concerns regarding fiscal consolidation. But overall mood continues to be positive, optimistic but that is for the longer-term. In the short-term, there are these headwinds and there are these challenges that the market has to deal with."
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