Markets Remain Quiet, Nifty Holds 4900

The Indian markets are holding their morning gains. At present, Sensex is trading higher 85 points while Nifty is up with 29 points. Nifty is holding the 4900 which is known as psychological mark. Among the sectoral Indices Capital goods, Bankex, Realty are trading higher more than a per cent while FMCG, IT and Teck Index are trading marginally in the red zone.

Other Asian markets continue to trade in mixed bagged with Nikkei and Shanghai trading higher 0.26 and 0.08 per cent on the back of speculation that government in the respective region might take some steps to fuel the growth in the economy. While one of the other hand Hang seng is trading lower down 0.53 per cent to 18850 levels.

European markets have opened their morning trade on a negative note with three major Indices namely CAC, DAX and FTSE trading lower in the range of 0.2 to 0.6 per cent. This is on the back of speculation that Greece may be out from the Euro zone and the debt crisis may get worsening further.

Back home, Tata Power is the leading Index gainer up 4.76 per cent to Rs 95.75. India’s largest bank State bank of India continued its wining trend and is up around 4 per cent to Rs 2019.15 after posting robust March quarter numbers on Friday. Capital goods major heavyweights, L&T and BHEL are also trading higher up 2.13 and 1.51 per cent respectively. Other stocks like RIL, Bharti Airtel, ICICI bank, Coal India etc are trading higher more than a per cent.

On the other hand the losers list include Bajaj Auto which is down 1.70 per cent to Rs 1506.85. IT major continued facing pressure, with stocks like Wipro and Infosys trading lower down 1.23 and 1.02 per cent respectively. FMCG stocks like ITC and HUL are trading down as they are witnessing some profit booking.

Adani Enterprise is trading higher 2.60 per cent to Rs 237.1 after the company posted its March quarter numbers. On a standalone basis company posted a Net Profit of 17052 lacs against 4967.82 lacs in the similar period last quarter. Tata steel is trading lower 1.06 per cent to Rs 395.6, after the company reported a dismal March quarter numbers of 2012.

The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1554 shares gained, 890 shares declined and 109 shares remained unchanged.

We expect the markets to remain volatile and advise readers to play with caution.