Mkts volatile; SBI, ONGC, Bharti dip, RIL, ICICI Bk, ITC up
At 12:48 hours IST, the markets were trading marginally lower post the IIP (Index of Industrial Production) data but there was a bit of volatility. The Nifty broke the 4600 mark and touched a low of 4588.25 but managed to claw back above the same level.
The Index of Industrial Production (IIP) number for April came in at 1.4% versus -0.7% in March. The manufacturing output for April has gone up to 0.7% while the mining output was up 3.8% (Y-o-Y). While capital goods, consumer goods and consumer non-durable goods output figures for the same period came down at 1.3%, 4.7% and 10.4% (Y-o-Y) respectively.
The Sensex was down 41 points, to 15,370 and the Nifty fell 22 points, to 4,615. The BSE Midcap and Smallcap indices lost just 0.5-0.7%.
Telecom, auto, realty, select financials, technology and pharma stocks were under pressure while power and select metal stocks were helping the markets.
Bharti Airtel, DLF, ONGC, SBI, Reliance Communication, Wipro, BHEL, HDFC, Infosys, HDFC Bank, HUL, Maruti and SAIL lost groung while Reliance Industries, Sterlite, ICICI Bank, ITC, NTPC, Reliance Infrastructure, Hindalco, Tata Steel, Suzlon Energy and NALCO were gainers.
The market breadth was weak; about 904 shares advanced while 1894 shares declined on the BSE. Nearly 347 shares were unchanged.