Markets trading lower amid volatility; telecom, SAIL, ICICI up

11 February 2009

The benchmark indices are still witnessing selling pressure amid volatility, despite showing recovery from lows of the day. Oil & Gas exploration, technology, capital goods, pharma, select banking and metal stocks are still under pressure. However, telecom, select power stocks as well as SAIL, Maruti, ICICI Bank and ACC are witnessing buying interest.

The Sensex was trading at 9,596, down 51 points and the Nifty was at 2,920, down 14 points, at 3:02 hours IST. BSE Midcap and Small cap indices are flat.

Among frontliners, Ranbaxy Labs, Reliance Infra, Tata Steel, Grasim and Tata Motors went down 2.5-6% while Maruti Suzuki, Jaiprakash Associates, Bharti Airtel, Tata Power, ACC, Siemens, Idea Cellular, Reliance Capital and BPCL gained 1-6%.

Educomp Solutions, Reliance Industries, Reliance Infra, Reliance Capital, Satyam and ICICI Bank are most active shares on the bourses.

Among midcap stocks, ICSA, Panacea Biotech, National Fert, Shree Renuka Sugars and IFCI gained 9-10% while Spice Communication, Indiabulls, Everest Kanto, Cranes Software and Kansai Nerolac lost 5-8%.

Piramal Life jumped 32%, GSS America Infom Shoppers Stop, Oscar Invest and Prism Cement rose 10-16.5% while Apollo Sindhoori, Surana Ind, Solar Explosive, Core Projects and Oil Country fell 7-12% in the small cap space.