Markets end flat; financials gain, metals, power, IT slip

24 March 2009

The benchmark indices ended marginally weak, after giving up all the gains in the last half an hour of the trade. The markets were volatile ahead of the F&O expiry. Both the indices had started on a strong note following positive Asian markets and rally in US markets. The Nifty has tested 3000 mark during the day while the Sensex went closer to 6700 level. However, the markets tumbled in the second half of the trade due to mild profit booking in European markets and US futures.

Metal, power and technology stocks, ADAG companies' shares and ONGC dragged the markets in the second half while buying in financials, select capital goods, oil marketing companies' shares and Bharti Airtel, Reliance Industries helped the indices to cap the losses.

The 30-share Sensex shed 228 points from an intraday high of 9,699, before closing the day at 9,471.04, up 0.5% or 47.02 points. However, the 50-share NSE Nifty closed at 2938.70, down just 1.2 points or 0.04%. It lost 78.7 points from day's high of 3017.40.

HDFC Bank, ICICI Bank, HDFC, BHEL, Ranbaxy Labs, Siemens, Suzlon Energy, Zee Entertainment and Unitech were top gainers on the bourses, gained 1.8-6%.

However, Jaiprakash Associates, Hindalco, Reliance Infrastructure, Reliance Communication, Tata Steel, Reliance Capital, Idea Cellular and SAIL were top losers, down 3.6-6.8%.

There was a huge jump in turnover as compared to previous session. The markets clocked a turnover of Rs 95,819.21 crore. This includes Rs 13,300.10 crore from NSE Cash segment, Rs 78,270.59 crore from NSE F&O and the balance Rs 4,248.52 crore from BSE Cash segment. It was a highest non-expiry day F&O turnover since January 2008.