Markets end flat amid volatility; midcaps outperform

09 April 2009

The benchmark indices closed the session on a flat note. The markets were volatile throughout the day. The Nifty surpassed the 3400 mark in the early trade while the Sensex crossed the 10900 level during the day.

Buying in shares of realty, select banking, metal, capital goods companies and in stocks like Bharti and Reliance Industries helped the markets while the sell-off in FMCG stocks, ONGC, NTPC, BHEL, Wipro, Reliance Communication, Maruti and Suzlon Energy capped the gains. It seemed that the benchmark indices broke five-day winning streak.

Broader indices remained outperformers for the sixth consecutive day and kept the market breadth on the positive side. Index of Industrial Production (IIP) numbers were in line with estimates and inflation numbers were also announced today.

The 30-share BSE Sensex touched an intraday high of 10,932.12, before closing the day at 10,803.86, up 0.57% or 61.52 points. The 50-share NSE Nifty shut shop almost flat at 3342.05, down just 0.03% or 0.9 points, but it did touch the 3400 mark and a high of 3401.15.

Among the broader indices, the BSE Midcap Index was up 1.69% or 55.76 points, to settle at 3,358.35 and the Small Cap Index closed at 3,767.55, up 1.66% or 61.58 points.

Overall, the week was good for the benchmark as well as broader indices and it was a truncated week. The Sensex was up 4.4% and Nifty went up 4.08% this week. Metal and capital goods stocks gained over 8%.