ongcIndian equity benchmarks recovered early trade losses amid volatility, supported by heavyweights like ITC, ONGC, Infosys, ICICI Bank, SBI and L&T. Even market breadth turned in favour of advances a bit. Ambareesh Baliga, chief operating officer, Way2Wealth continues to hold that the Nifty will stay in a range. "More or less we would be in a range of 5,350-5,400 to 5,600-5,650. But for the next one week - we should head lower. In fact, I am looking at levels more close to 5,450-5,500," Baliga said.
The 30-share BSE Sensex was trading at 18,539, up 36 points and the 50-share NSE Nifty was flat at 5,567. Reliance Industries, TCS, HDFC Bank, BHEL, NTPC and DLF were putting pressure on the market. Crompton Greaves, Petronet LNG, TTK Healthcare, SBI, LIC Housing Finance and Exide Industries were most active shares on exchanges. Midcaps like MindTree and Petronet LNG shot up 10% & 5%, respectively post strong numbers. SKS Microfinance gained 5% on short covering. Crompton Greaves gained 4% on short covering after about 30% fall in previous two days. 3M India and Page Industries were up 5%. However, Shree Global, Coromandel International, Infotech Enterprises and Amara Raja Batteries lost 2-5%. Biocon fell 5% on In the smallcap space, Ruby Mills jumped 14%. Marathon Nextgen, Aptech, Sandur Manganes and Sterling Holiday were up 4-5%. However, Hinduja Foundries, Goodricke Group, Hinduja Global, Ingersoll Rand and R M Mohite lost 5-10%.
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