Markets close mixed amid volatility; Nifty trapped at 3100

06 January 2009

The benchmark indices closed the session on a mixed note amid high volatlity - the Nifty seemed consolidating at 3100 level. Reliance Industries and ONGC played a key role in today's choppiness.

Buying was seen in shares of private banking, metal, cement, auto, oil marketing companies as well as Reliance Industries, Satyam and BHEL. However, shares of telecom, power, real estate companies as well as SBI, TCS and L&T were under pressure.

The Sensex remained rangebound between a day's high of 10,392.12 and low of 10,150.68. It shut shop 10,335.93, up 60.33 points or 0.59% from previous close.

However, the 50-share NSE Nifty has broken 3100 mark after 1:30 pm but managed to come back above the same level in last half an hour of trade. It was looking like it remained trapped around 3100 mark. It was down by 8.65 points or 0.28% at 3112.80, after trading in a range between 3141.80 and 3056.10.

Volumes have improved a lot today, after a long time. Total traded turnover stood at Rs 57,191.80 crore. This includes Rs 13,079.77 crore from NSE cash segment, Rs 39,420.34 crore from NSE F&O and the balance Rs 4,691.69 crore from BSE cash segment.

Today's volatility was because of shares of oil exploration companies. BSE Oil & Gas Index was down just 1.8 points at 6,557.83. ONGC was down 0.56% while Reliance Industries gained just 0.17%. Shares of oil marketing companies like BPCL, IOC and HPCL surged 1.6-4%.