Volatile markets end flat
Breadth neutral as 1,336 stocks advance while 1,219 decline
Markets ended today's volatile session on a flat note after the Indian rupee again weakened to 55.75 against the US dollar. The Sensex provisionally ended at 16,018, up 29 points and the 50-share Nifty closed at 4,860, up 13 points. In intra-day deals, the Sensex touched the high of 16,138
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(Updated at 1435 hours)
Markets have corrected sharply in the late noon deals trimming most of the morning gains after the Indian rupee again approached near 56 levels against the US dollar.
The Sensex is up 6 points at 15,994 and the 50-share Nifty is up 8 points at 4,856 levels. For the most part of the day, the markets traded on a firm note and the Sensex touched the intra-day high of 16,138 levels.
Meanwhile, the Indian fell 18 paise to 55.84 a dollar, which gained more than 30 paise in morning trade.
The Asian markets ended the day in green. Nikkei advanced 1% to 8,382, Hang Seng added 0.4% to close at 18,259 and the Shanghai Composite closed flat at 2,312 levels.
The Euopean markets were trading mixed. The CAC was up 9 points at 2,964. While, DAX slipped 0.5% to 5,945 levels. The markets in London are closed today on account of holiday.
Back home, NTPC is the top gainer among the Sensex stocks up 2% to Rs 147 after commissioning of the Unit # 3 of 660 MW of Sipat Super Thermal Power Station Stage-I.
“The Unit # 3 of 660 MW of Sipat Super Thermal Power Station Stage-I has been commissioned on June 02, 2012. With this, the total capacity of NTPC group has become 38,674 MW," the state-owned power utility company said in a filing.
State Bank of India advanced 1.5% to Rs 2,075 on reports that the bank has signed an agreement with brokerage firm Geojit BNP Paribas Financial Services to offer portfolio investment services (PIS) to Non-Resident Indians (NRIs).
Larsen & Toubro, , Hindalco, Hero MotoCorp, TCS, index heavyweight Reliance Industries and Maruti Suzuki were also among the gainers.
On the other hand, Tata Motors, Bharti Airtel, ITC, DLF, HUL, Tata Power, Tata Steel and Jindal Steel are among the laggards.
On the sectoral front, Capital goods index is the top gainer, up 1.4% to 8,850 levels. Power, bankex, oil & gas, PSU, IT and healthcare indices are also up 0.3-0.8% each. While, FMCG, realty, consumer durables, auto and metal indices are among the losers.
Among the individual stocks, Insecticides India is trading higher by nearly 3% at Rs 408 on the National Stock Exchnage (NSE) on reports that the company is planning to raise Rs 100 crore.
The broader markets are trading flat. The BSE mid-cap index is up 18 points at 5,827 and the small-cap index has advanced 8 points to 6,188 levels.
The overall breadth is neutral as 1,336 stocks are advancing while 1,219 are declining.