Another volatile day likely
Volatile market ended lower ahead of F&O expiry. The markets witnessed wild gyrations during the trading session with Sensex swing over 150 points in intra-day. The key indices traded in red for major part of the day. However fresh buying from lower levels in the mid afternoon sessions saw the benchmark Sensex bounce back in green hitting a high of 14312.88. Following its recent trend the key indices again slipped in the last hour of the trading session led by intensified selling pressure in the Technology, Oil & Gas and FMCG stocks. Finally, the 30-share benchmark Sensex lost 64 points to close at 14188. NSE Nifty dropped 10 points to close at 4096.
Deccan Chronicle's has advanced by 1.3% to Rs870. The Board of Directors of the company has approved start of Bangalore Edition. The scrip has touched an intra-day high of Rs885 and a low of Rs868 and has recorded volumes of over 4000 shares on NSE.
NTPC marginally gained by 0.4% to Rs142 after the company signed an accord with Kyushu Electric Power Company, Japan. The scrip touched an intra-day high of Rs143 and a low of Rs140 and recorded volumes of over 25,00,000 shares on NSE.
Gail India slipped over 4.5% to Rs283. The company announced that it would consider mid-year dividend on March 6. The scrip touched an intra-day high of Rs297 and a low of Rs280 and recorded volumes of over 22,00,000 shares on NSE.
Capital Good stocks pared their intra-day gains on back of profit booking. BHEL slipped 2% to Rs2314, L&T was down 0.7% to Rs1658, Punj Lloyd lost over 2.5% to Rs909 and BEL declined 1.8% to Rs1627.
Technology stocks were the major losers of the day. Heavy weights were among the major losers, Infosys slipped 2% to Rs2310 and Satyam Computer was down 3.2% to Rs462. Among the Mid- Cap stocks, NIIT LTD, Rolta and Moser Baer were among the major losers
FMCG stocks continued its down trend. HLL slipped by 1.9% to Rs195, Colgate lost 1.7% to Rs318; ITC was down 0.8% to Rs174. However, Dabur, Nirma and McDowell were among the major gainers.
Banking stocks were a mixed bag. The frontline stocks like SBI and ICICI Bank were flat. However, Bank of India slipped 1.8% to Rs172, Union Bank was down by 2.3% top Rs106 and Corp Bank lost 1.3% to Rs283.