Markets trade firm, expect volatility on F&O expiry

Chandrakant / 25 Jan 2012

After a flat positive opening, the Indian markets extended their gains in the afternoon trade. The Sensex and Nifty are trading up, with gains of 0.51% and 0.49% respectively.

After a flat positive opening, the Indian markets extended their gains in the afternoon trade. The CRR cut by RBI on Tuesday, Jan 25, improved the market's sentiments and brought investors to the Indian markets. Later, a positive opening in the European market lifted the investor sentiment. Both the Sensex and Nifty are trading positively, with gains of 0.51% and 0.49% respectively.

In the other Asian markets, Hang Seng and Shanghai remained closed for holidays. The Nikkei shares opened on a positive note, and continued to trade in green zone on the hope that the deal between Greek with its private creditors will come through and will improve the country's debt burden.

The European markets opened with the positive note extending, and the major European indices were up between 0.32%-0.46%.

Benchmark Indices

Index

Rate

% Change

FTSE

5,764.35

              0.22

DAX

6,449.20

0.46

CAC

3,338.76

0.48

Hang Seng (Closed)

20,110.39

0.00

Nikkei

8,883.69

1.11

Shanghai (Closed)

2,319.12

0.00

Sensex

17082.27

0.51

Nifty

5,152.55

0.49


Back home, all the BSE sectoral indices are trading positively, with gains between 0.13%-1.40% each. IT, Teck are in the lead with gains of 1.40% each, while PSU is up by 1.30%.

Barring a few companies, all the Sensex shares are trading positively. Bharti Airtel, Coal India, HDFC, Maruti Suzuki, Sterlite Industries, Tata Motors, Tata Steel and TCS are among the major gainers, leading with gains between 1%-2.86%. Among the losers, Hero MotoCorp, Jindal Steel, Tata Power and Cipla were trading down by 0.5%-1.85%.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1661 shares rose, 948 shares fell and 114 shares remained unchanged.

We expect the markets to remain volatile for the rest of the day owing to Futures & Options expiry.

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