Market trips on volatile moves

The market remained under the grip of strong volatile moves as key indices kept swinging between positive and negative zones all through the session. After resuming slightly above its last close at 15,327, the market snapped gains in the early trades before frenzied buying propelled the Sensex to an intra-day high of 15,337. While the market failed to make any further impact thereafter, the index drifted into red once again in noon trades to touch the day's low of 15,136. The Sensex, after witnessing an intra-day swing of 201 points, ended 61 points down at 15,190, while Nifty declined 22 points to close at 4,517.

However, the market breadth was positive. Of the 2,678 stocks traded on the BSE, 1,445 stocks advanced, 1,156 stocks declined and 77 stocks ended unchanged. In a volatile market, the BSE CD index rose 1.74% while the BSE HC index, the BSE Bankex index, the BSE CG index and the BSE PSU index ended with steady gains. Other sectoral indices however ended at lower levels.

Dragging the market Jaiprakash Associates shed 4.03% at Rs177.50, DLF dipped 3.61% at Rs476.95, HDFC Bank lost 3.45% at Rs1,118, Cipla slipped 2.63% at Rs210.50, Hindustan Unilever lost 2.54% at Rs225.10 and Reliance Infra was down 2.50% at Rs1,010. Maruti, Tata Steel, HDFC, Grasim, Hindalco, M&M, ITC and NTPC were down 1% each. Ranbaxy Laboratories however advanced 4.31% at Rs566.90 followed by ICICI Bank that gained 3.03% at Rs 764.80. BHEL scaled up 2.79% at Rs1,561.10 and TCS moved up 2.16% at Rs907.65. Tata Motors, ONGC, Reliance Communications, ACC and L&T ended with steady gains.

Over 2.80 crore Chambal Fertiliser shares changed hands on the BSE followed by Nagarjuna Fertilisers (1.78 crore shares), Reliance Petroleum (1.37 crore shares), Reliance Natural Resources (1.29 crore shares) and IFCI (1.26 crore shares