Markets end mixed; power, metal decline, cap goods up

27 April 2009

The benchmark indices closed the first session of this truncated week on a flat note. Both the indices traded with volatility throughout the session, ahead of F&O expiry on Wednesday. Power, metal, oil & gas and select telecom stocks, and stocks like SBI, HUL, Infosys, ACC, Ranbaxy, Tata Motors and Hero Honda witnessed selling pressure. There was some pressure from weak global cues.

However, buying in ICICI Bank, Wipro, TCS, BHEL, Sterlite, L&T, ITC, Axis Bank, Sun Pharma, Maruti and HDFC Bank supported the markets and capped the losses.

The 30-share BSE Sensex closed 42.80 points or 0.38% higher at 11,371.85, after witnessing an intraday high of 11,492.10 and low of 11,176.55. However, the 50-share NSE Nifty shut shop at 3470, down 0.31% or 10.75 points; it touched a high/low of 3517.25 and 3435.30, respectively.

Technical Analyst, Ashwani Gujral said, "There is a stiff resistance at 3,500-3,550 on the Nifty and today for the second time the market has come back from 3,517. It is still not weak but it could spend some time in this 3,300-3,500-3,550 kind of zone. It will become weak only once it breaks 3,300 on the downside. So there is some consolidation."

The broader indices witnessed profit booking; the BSE Midcap slipped 0.44% or 15.81 points, to 3,584.28 and the Smallcap Index fell 1.01% or 41.12 points, to settle at 4,027.14.

Volumes improved ahead of settlement day; total traded turnover stood at Rs 95,978.21 crore. This included Rs 15,322.32 crore from NSE cash segment, Rs 75,777.22 crore from NSE F&O and the balance Rs 4,878.67 crore from BSE cash segment.