Friday 30 January 2015

Nifty below 8,950 levels

Following yesterday's rally and strong US market, the market has started the day on a gung-ho note as the BSE Sensex jumped 120-odd points at 29,801 and the NSE Nifty opened a fresh all-time high at 8,996 - up 44 points.


Soon, the BSE benchmark index added more gains and touched a high at 29,844 - which is a record high for the BSE index.

Further, the Key indices the BSE Sensex and NSE Nifty could not manage to hold gains for a long and slipped into the negative zone and touched a low at 29,650 and 8,942, respectively.

At 9:48 AM, the S&P BSE Sensex is trading at 29,595 down 87 points, while NSE Nifty is trading at 8,940 down 12 points.

The broader indices are out-performing the CNX Nifty index in early morning deals, the Mid-cap, Small-cap and Nifty Junior indices have gained over 0.5 per cent each at 13,254, 5,534 and 19,776, respectively.

The India VIX (Volatility) index has soared over 3 per cent at 20.0700.

Among sectors, the CNX Metal and FMCG indices have shed over 0.5 per cent each at 2,523 and 21,172, respectively. While, the Realty index has jumped over 2 per cent at 236. The IT index has spurted over a per cent at 11,972.

The Auto and PSU Bank indices have also added 0.3-0.6 per cent each.

Coal India is the top loser in the Nifty space - down over 3 per cent to Rs. 363 after the government yesterday set the floor price of Coal India at Rs 358 per shares for an offer for sale.

Sesa Sterlite, Dr Reddy's and Bharti Airtel have slipped over 1.5 per cent each at Rs. 198, Rs. 3,308 and Rs. 370, respectively.

Asian Paints, Ambuja Cement, ICICI Bank and Zee Entertainment have also dropped over a per cent each.

On the other hand, HCL Technologies have zoomed over 7 per cent to Rs. 118 after Q2 results. DLF has soared 4.4 per cent at Rs. 174.

Tech Mahindra and NTPC are the other prominent gainers - up over 2 per cent each at Rs. 2,971 and Rs. 144, respectively.

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