Thursday, April 26, 2012

Indian Stock Market - Nifty lacklustre ahead of April F&O expiry; volatility likely

At 10:00 a.m., the Nifty was at 5,201.45, down 0.55 points, or 0.01 percent. It has touched a high of 5,215.60 and a low of 5,196.65 in trade so far.

The Sensex was at 17,177.74, up 26.45 points, or 0.15 percent. It has touched a high of 17,193.25 and a low of 17,136.71 in trade so far.

The BSE Midcap Index was up 0.18 percent and the BSE Smallcap Index moved up 0.22 percent.

Among sectoral indices, the BSE Realty Index was up 0.34 percent, the BSE Metal Index advanced 0.32 per cent and the BSE IT Index gained 0.27 percent. The BSE Oil & Gas Index was down 0.24 percent and the BSE FMCG Index slipped 0.11 percent.

Grasim (1.39%), M&M (1.07%), Cipla (0.90%), Ambuja Cement (0.90%) and Tata Steel (0.71%) were among the top Nifty gainers.

Jaiprakash Associates (-1.90%), GAIL (-1.62%), HCL Tech (-1.42%), Sterlite Industries (-1.39%) and IDFC (-1.38%) were the major Nifty losers.

The market breadth was positive on the NSE with 693 gainers against 573 losers.

Jittery foreign institutional investors have been exiting Indian markets on GAAR concerns, analysts said. As per provisional data, FIIs sold equities worth Rs 860.77 crore on 24 April 2012 and shares worth Rs 407.49 crore on 23 April 2012.

Foreign institutional investors continue to remain net sellers in Indian equties. On Wednesday, they sold shares worth Rs 340.84 crore, as per provisional data from stock exchanges. In the last three sessions alone, they have sold equities worth Rs 1609.10 crore.

Asian markets are also rangebound. The Nikkei 225 was down 0.15 percent, the Shanghai Composite slipped 0.21 percent, and the Strait Times edged 0.15 percent lower.

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