Volatile trades continue

The markets continue to trade volatile amid mixed news flow, while better-than-expected GDP numbers had triggered a fresh round of buying, overall weak Asian markets continue to stem the recovery.  The Sensex is now down 135 points at 19,269 and Nifty is at 5785 down 44 points.

The GDP for the April-June quarter came in at 8.9% compared to 8.7% in the same period previous year, due to good performance by the manufacturing and farm sector.

The manufacturing sector growth came in at 9.8% versus 8.4% in the previous year. The Services sector growth stood at 9.8%. Buoyed by the good monsoons this year the farm sector grew by 4.4% compared to 0.9% in the previous year.

Meanwhile DLF, leads the Sensex gainers charts the stock is trading at Rs 299 up 3.5% Bharti Airtel, BHEL, State Bank of India and Jaiprakash Associates are the other gainers on the BSE 30 share index. L&T is the top loser among the Sensex stocks down more than 1.5% at Rs 1934 followed by Tata Steel, ICICI Bank, ACC and Sterlite Industries down more than 1% each.

Buying is visible in the Real estate stocks, the BSE Realty index is the top gainer among the sectoral indices up 83 points or 3% at 2852 points, Power, PSU, Auto amd BSE banking index- Bankex are higher by more than 0.2%.

Metal stocks are witnessing the selling pressure, the Metal index is down 109 points at 15,447, followed by Oil & Gas, IT and Capital Goods indices.

Indiabulls Real Estate, D B Realty, Sobha Developers, Orbit Corp and DLF are amopng the top gainers among the realty stocks, up more than 3.5%.

The broader markets are trading flat, the mid-cap index is up 29 points at 7687 and the small-cap index is at 9626 up 63 points.

The overall market breadth continues to remain negative as 1153 stocks are declining while 804 stocks are advancing.