Wednesday, April 27, 2011

Nifty choppy ahead of expiry tomorrow; ONGC, Bharti gain

Indian equity benchmarks saw some selling pressure amid a choppy trade at 13:19 hours, dragged down by financial, capital goods, cement, metal, realty and Anil Dhirubhai Ambani Group (ADAG) companies' shares. NTPC, Reliance Industries, TCS and Wipro too were adding pressure.

The 50-share NSE Nifty slipped 43 points, to trade at 5,824, hammered by 45 shares out of 50. Technical Analyst, Vijay Bhambwani said the index would remain in a range of 5800-5925 today.

However, ONGC, Bharti Airtel, Mahindra & Mahindra, Maruti Suzuki and Infosys Tech were only gainers on Nifty.

The 30-share BSE Sensex lost 117 points to 19,429. The Nifty May futures were trading with 27 points premium and April futures with 5 points premium, which will expire on Thursday.

Wipro, BHEL, Jaiprakash Associates, DLF, ICICI Bank, Ambuja Cements and Reliance Infrastructure were top losers among largecaps, with falling 1.5-3%.

In midcap space, Blue Dart, Motherson Sumi, Raymond, Hindustan National Glass and Honeywell Automation gained 7-8.5% while KGN Industries, State Bank of Bikaner, Sadbhav Engg, Sobha Developer and City Union Bank slipped 3-5%.

In smallcap space, Shasun Pharma shot up 20% and Kirloskar Brothers rallied 16%. Oil Country, Mahindra Forgings and Hawkins Cooker were up 9-11%.

However, Heidelberg Cement, Falcon Tyres, Ontrack Systems, NIIT Tech and India Securities lost 4-5%.


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