Volatile day ends in green

After three consecutive sessions of garnering 1-3% gains, the markets witnessed an extremely volatile trade today. The Sensex closed higher by 80 points and the Nifty up 19 points

Major headlines

Cairn India slips after Vedanta deal value revised down

Tyre companies strengthen on fall in rubber prices

ABG Shipyard inks Rs970 crore deal with Indian Navy



Indian indices

The Indian markets were dull in today’s trade and remained volatile. It continued its upmove to close the trade on a higher note for the fourth straight day. Profit booking was seen in oil & gas stocks after yesterday’s solid gains and also in realty, IT and PSU stocks. Good FII inflows in the past few days and firm global cues led the rally.

BSE Midcap up 0.78% and BSE Smallcap up 0.60% were relatively outperforming the Sensex.

Sensex movements: The Sensex started the session up by 81 points at 18494 and after few minutes of trade hit the day’s high of 18527. The index witnessed volatility and touched the day’s low of 18323 in mid-morning trade. The Sensex swung between gains and losses throughout the day to close in green. The Sensex stood at 18492, up by 80 points and the Nifty rose by 19 points at 5545.

Market sentiment

The market breadth was in favour of advances, with 1464 shares rising, 1378 shares declining and 124 shares traded unchanged.

Viewing volumes

One of the fastest growing integrated infrastructure enterprises of India - Lanco Infratech was traded the most, with over 0.81 crore shares changing hands on the BSE, followed by India's second largest developer - Unitech (0.31 crore shares), wind turbine major - Suzlon Energy (0.18 crore shares), a Jaypee Group firm - Jaiprakash Associates (0.17 crore shares) and an industrial finance company - IFCI (0.16 crore shares).

Sectoral & stock screening

Nine sectors ended higher, while four closed down. Gainers - BSE Consumer Durables (CD) and BSE Healthcare (HC) rose by 0.95% each, following that BSE Capital Goods (CG) up by 0.94% and BSE Auto up by 0.82%. Losers - BSE Oil & Gas slipped by 0.44%, followed by BSE Realty down by 0.33% and BSE PSU down by 0.22%.

Top gainers in 'A' group pack - Jaypee Infratech rose by 11.57%, Jain Irrigation gained by 6.53% and Lanco Infratech shot up by 5.58%. Top losers in 'A' group pack - Sun TV Network went down by 3.02%, Power Finance Corporation fell by 2.33% and Union Bank of India lost by 2.29%.

Global signals

The European equities rose on Tuesday and the euro firmed with caution about Greece's vote on austerity measures later in the week vying with optimism about France's agreement to roll over holdings of mature Greek debt.

All the Asian stocks ended in the positive terrain on Tuesday. However, Kospi index lost by 0.36%.

The US stock index futures point to a flat opening on the Wall Street on Tuesday.

Market Outlook: Consumer Confidence Index (CCI) is scheduled to be released on Tuesday.