Nifty closes volatile session flat; Axis Bk, HCL Tech rally
21 Apr 2010
The benchmark Nifty closed the day-long volatile session on a flat note; it consolidated around 5240-5260 level throughout the session. It was positive in the first half of trade, tracking Asian cues while turned into volatile trade in the second half of trade.
On the one side, realty, power, auto, cement and banking & financial companies' shares witnessed buying interest. ONGC, Wipro, HUL, Bharti Airtel, Axis Bank and HCL Tech were the other gainers.
However, metal and capital goods companies' shares along with heavyweights like Reliance Industries, TCS, Infosys and ITC traded in negative terrain.
Axis Bank rose 4.25%, as its Q4 net interest income was up 45% at Rs 1,460.1 crore and net profit up 30% at Rs 764.8 crore (YoY). HCL Tech was another star performer today; its net profit boosted by fall in forex loss at USD 14 million versus USD 22 million. The stock surged 8.27%. However, Sun Pharma was the top loser on the Nifty; fell 3%.
The 30-share BSE Sensex closed at 17,472.56, up 11.98 points and the 50-share NSE Nifty rose 14.80 points to 5244.90. The broader indices outperformed the benchmark indices; the BSE Midcap Index was up 0.96% and Smallcap up 1.38%.
The market breadth was positive; about 1965 shares advanced while 1005 shares declined on the BSE. Nearly 281 shares remained unchanged.