Small BusinessMarkets reverse losing streak amid high volatility
The Indian bourses opened marginally higher at 16,317.16 - up 28 points. points - mirroring positive cues from the global markets. The US markets ended on a positive note after the US Federal Reserve said that the conditions in the world"s largest economy are showing signs of improvement. The Dow Jones Industrial Average added 0.4 per cent and the Nasdaq Composite Index was up 0.8 per cent, respectively. The Asian stocks too started on a strong note however pared some gains towards end of the day. The Hang Seng was up 1.61 percent and the Nikkei added 1.5 per cent, respectively.
The Sensex surged to a high of 16,524.69 in morning trades, however a spike in the food price to 17.40 per cent saw index tumble into the red. The BSE benchmark index slipped to a low of 16,182.14, down 343 points from the day"s high. Today being, the January futures & options expiry day, the markets exhibited extreme volatility amid alternative bouts of buying and selling. The NSE F&O turnover today hit a fresh all time high, for the third day in a row.
DLF and Sun Pharma increased 2% each to Rs 324 and Rs 1,446, respectively.
HDFC, Grasim Industries, Maruti, Reliance and Mahindra & Mahindra, up 1% each.
...AND THE SHAKERS
Bharti Airtel and Reliance Communications slipped 2% each to Rs 314 and Rs 171, respectively.
Larsen & Toubro, Jaiprakash Associates, Hindustan Unilever and ACC were down 1.5% each at Rs 1,431, Rs 135, Rs 255 and Rs 868, respectively.
VALUE & VOLUME TOPPERS
Aban Offshore topped the value chart with a turnover of Rs 277.92 crore. It is followed by Tata Steel (Rs 199.26 crore), SBI (Rs 141.62 crore), Jai Corp (Rs 129.71 crore) and ICICI Bank (Rs 124.30 crore).
Cals Refineries led the volume chart on the BSE with trades of 21.83 million shares. It is followed by Unitech (8.48 million), Ispat Industries (8.43 million), Suzlon (7.02 million) and Rashtriya Chemicals (6.56 million).