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Markets remain weak amid volatility

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SI Reporter Mumbai
Last Updated : Mar 05 2013 | 8:51 PM IST

Key share indices remain negative amid volatility ahead of the expiry of February futures and options series on selling pressure in banking, capital goods and metal shares. At 11:25, the Sensex was down 35 points at 18,394 and the Nifty declined 18 points at 5,589 levels.

On the global front, Asian markets remain mixed. Taiwan and Nikkei have gained by nearly 1% each. Strait Times is marginally down.

Back home, analysts suggest that the Nifty is expected to be volatile for next two – three trading sessions due to the F-and-O expiry for the February series due Thursday.

BSE Bankex is leading the downslide, plunging by almost 2%. SBI is the top Sensex loser, down 4% on reports that that the bank has committed around Rs 1,200 cr to Kingfisher Airlines. ICICI Bank is down by over 2%.

Consumer Durable stocks like Blue Star, Titan Inds, TTK Prestige, Videocon, VIP and Whirlpool have plunged between 1-2%.

From the Metal segment, Jindal Steel, Sterlite and Tata Steel have declined between 1-2%.

Capital Goods major L&T has slumped by nearly 1.5%. However, BHEL has extended yesterday’s gain, up 1%.

Other frontline losers include DLF, M&M, HUL, Bharti Artel, Cipla, GAIL and Wipro, all dropping between 0.4-3%.

From the gaining side, ONGC, Sun Pharma, RIL and TCS have spurted between 1-2%.

The broader indices have broken the gaining streak and have slumped into red zone on account of profit booking – BSE Midcap and Smallcap indices are down nearly 1% each.

The market breadth in BSE turns unhealthy with 999 advancing and 1,507 shares declining. 

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First Published: Feb 22 2012 | 11:24 AM IST

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