Volatile markets close flat; high volumes seen
16 Jul 2009
The benchmark indices ended a highly volatile session on a flat note. The markets were consolidating as they had run-up quite a lot in the last 2 days (the Sensex surged around 900 points and the Nifty gained 350 points). The volumes were on the higher side as compared to the previous session.
Auto, pharma, PSU power and select telecom stocks witnessed buying interest. However, selling was seen in private power, cement and select capital goods stocks. The volumes were on the higher side as compared to the previous session. There was a mixed trend in oil & gas, metal, banking and technology stocks.
The 30-share NSE Nifty touched the 4300 mark in the early trade and saw a swing of 100 points between an intraday high of 4305 and low of 4205.50. It closed at 4231.40, down just 2.10 points. The 30-share BSE Sensex witnessed a swing of 323.52 points between day's high/low of 14,493.10 and 14,169.58, before ending at 14,250.25, down just 2.99 points. The broader indices ended with marginal gains.
Total traded turnover was higher by 19% at Rs 95,168.90 crore as against Rs 80,071.65 crore on Wednesday. This included Rs 19,764.59 crore from the NSE cash segment, Rs 68,847.29 crore from the NSE F&O and the balance Rs 6,557.02 crore from the BSE cash segment.
ONGC, L&T, Sterlite, SBI, HDFC, Reliance Infrastructure were negative contributors while Reliance Industries, NTPC, Reliance Communication, Hero Honda and Maruti were the positive contributors.
Sterlite Industries plunged 6% post the announcement of ADS (American Depositary Shares) issue. The stock slipped due to 17% dilution via this issue. Sterlite ADS priced at $12.15/ADS (Rs 591.90/share) and it is going to raise $1.65 billion (Inclusive of $150 million Greenshoe) via ADS issue.
.webp)
.webp)
