Sensex ends with modest loss amid volatility;oil & gas dips
15 Jan 2010
The benchmark Sensex closed marginally lower, after seeing volatility throughout the session. Traders looked cautious today, after run-up in the markets for last days. The Sensex traded in a tight range of 17550-17630 and the Nifty ranged at 5250-5270, as overall, it was a consolidation day for the markets.
Gautam Vora, Director of ULJK securities is bullish on the Nifty with a target of about 5,385 within the next 1-2 weeks though the markets have been trading in a band over last few trading sessions. "There is a major support at 5220 and below that there is a support of 5180 which everyone is looking at. The markets have been trading in a band over last few trading sessions but that is a good thing. Because consolidation is required in every market so we believe that the market is looking stronger out here. We are bullish with the target of about 5385 on the Nifty within the next 1-2 weeks."
On the one side, the profit booking was seen in metal, PSU banking, oil & gas, capital goods and select technology companies' shares while on the other side - the buying in realty, private banking, power, FMCG, cement and select auto companies' shares capped the losses to major extent. TCS was the leading counter on the NSE Nifty, up nearly 1.5% ahead of its third quarter FY10 numbers.
Oil & gas was the major dragger, which pulled the markets down in the late trade; the respective Index fell 0.94%. However, Reliance Communications was the top gainer on the Sensex with around 4.5% gain and Ambuja Cements was the top gainer on the Nifty with rally of around 5.5%.
The 30-share BSE Sensex closed at 17554.30, down 30.57 points, after seeing an intraday high of 17639.85 and low of 17529.11. The 50-share NSE Nifty touched a day's high of 5279.85 and low of 5242.45, before closing at 5252.20, down 7.7 points.
HDFC Bank gained 0.6% post good set of numbers. It has reported jump of 31.51% in its Q3 net profit of Rs 818 crore and its net interest income went up 12.31% to Rs 2,223 crore. The numbers were in-line with the estimates, CNBC-TV18 was expecting net profit at Rs 795 crore and NII at 2,179 crore.