Markets witness edgy trades

After sliding in the opening session and edging higher to hit the day's high, the markets have again dipped in the red. The BSE Sensex is at 16,655, down 14 points and the S&P CNX Nifty is at 4,999, down 17 points.
Earlier in the day, the BSE benchmark index touched a high of 16,745 and a low of 16,496.

Among the sectoral indices, BSE Oil & Gas index staged a recovery after the morning session and is now up 0.3%

BSE Consumer Durables, Capital Goods and Teck indices, up 1-2% each, are the major gainers. Rajesh Exports, Bajaj ELectricals, TTK Prestige and Titan Industries, up 2-3% each, are the prominent gainers from the Oil & Gas space.

Praj Industries, Havells India, Crompton Greaves and Larsen & Toubro, up 1-2% each, are the major gainers among the Capital Goods stocks.

BSE Power index has lost the most, down nearly 1% at 2,142.

Among the Sensex 30 stocks, Bharti Airtel, Larsen & Toubro, Reliance Industries, JP Associates and Bajaj Auto, up 1-2% each, are the prominent gainers. On the other hand, Tata Power, ONGC, Hero MotoCorp, SBI and Hindustan Unilever, down 1-2% each, are the prominent losers among the stocks.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies are under pressure at the bourses with many of them trading lower by more than 5% each on reports that Anil Ambani, the group promoter being probed by the Central Bureau of Investigation (CBI) in 2G scam. Reliance Capital is down 9% to Rs 325.

Among individual stocks, Bajaj Corp has plunged 14% to Rs 102 after the company said it has acquired a land in Mumbai to develop the Corporate Office for total consideration of Rs 75 crore

The overall market breadth is positive as 1,333 stocks have advanced against 948 declining ones.