Markets remain volatile, JSW Energy up 8%
Shrikant / 23 Jan 2012
The markets have continued their volatile run in the afternoon session as well. The BSE Sensex is currently trading down by 14 points, while Nifty is down by 7 points.
While most Asian indices are shut today on account of Chinese New Year, Nikkei traded in volatile manner for the whole day and ended with marginal losses.
Meanwhile, the European markets have also opened with mixed trends. FTSE is marginally up, while CAC and DAX are both trading in the red.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,729.21 | 0.01% |
| CAC | 3,316.27 | -0.16% |
| DAX | 6,385.86 | -0.29% |
| Hang Seng | 20,110.37 | 0.84% |
| Nikkei | 8,765.90 | -0.01% |
| Shanghai | 2,319.12 | 0.00% |
| Sensex | 16,724.66 | -0.09% |
| Nifty | 5,040.85 | -0.15% |
From the sectoral indices, Teck gained 0.89% in this session. The FMCG index is also up by 0.83% following good numbers posted by Godrej Consumer Products. Power and Bankex are both up by over 0.60% so far. CG has shed 1.22% ahead of L&T's results, which are expected this afternoon. Oil & Gas has also been dragged down after RIL’s quarterly performance. Metals is the bottom with 1.68% losses.
19 of the 30 Sensex stocks are trading in positives. Bharti Airtel, Hindustan Unilever and ICICI Bank have gained over 2%. BHEL, DLF, HDFC and NTPC have also surged by more than 1%. Tata Power, which had gained over the news of coal asset acquisition, has dropped a few points but is still trading in positives. Sterlite Industries has topped the losers chart, down by 3.86 %. Hero MotoCorp and Hindalco Industries are also down by over 3%. RIL, Tata Steel, Coal India, GAIL India, Maruti Suzuki, L&T, HDFC and Tata Motors are all down at this time.
Among other stocks, JSW Energy has surged by over 8% after its quarterly results were declared. Jain Irrigation and Godrej Consumer Products are also up by over 5%. Adani Ports and United Spirits, on the other hand, have declined by over 5%.
The market breadth, which indicates the overall health of the market, is positive. Out of a total of 3035 stocks, 1574 stocks advanced and 1346 stocks declined. 115 stocks remained unchanged.
In our opinion, the markets will remain volatile ahead in the day.
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