Mumbai: The benchmark indices are trying very hard to remain on the higher side amid volatility.
Technology, capital goods, realty, select power, metal and cement stocks as well as Reliance Industries, ITC and SBI are supporting the markets.
However, Bharti Airtel, NTPC, ONGC, HDFC Bank, ICICI Bank, HUL, Siemens, Grasim, Tata Steel, Tata Motors and Reliance Capital are under pressure.
The Sensex went up 84 points to 9,194 and the Nifty rose 11 points to 2,784, at 12:20 hours IST. BSE Midcap and Small cap indices rose 0.3-0.5 per cent.
Market breadth is slighty on the lower side; about 1,323 shares have advanced while 1,441 shares declined. Nearly 135 shares are unchanged.
BSE IT index gained nearly 5 per cent and Realty index rose 2 per cent.
About 20.2 lakh shares changed hands on BSE at Rs 210/sh in DLF, the stock surged 3 per cent.
Earlier in the day:
The benchmark indices have opened lower but have recovered from lows and have started trading with choppiness. Infosys Technologies beats the street expectations for the quarter ended December 2008 numbers but the company has lowered its dollar guidance for full year; the stock went up over 2 per cent .
At 9:56 am, the Sensex rose 15.56 points to 9,125 while the Nifty fell 2 points to 2,771. CNX Midcap 100 gained 0.3 per cent at 3,501.
Selling is seen in Wipro, HCL Tech, TCS, ONGC, Bharti, BHEL, Tata Motors, Tata Steel, Tata Power, M&M, ABB and Nalco.
However, Reliance Industries, Reliance Communication, Infosys, L&T, Reliance Infrastructure, Unitech and SAIL are witnessing buying interest.
Asian markets are trading mixed. Nikkei fell 4 per cent and Shanghai lost 1.2 per cent . However, Hang Seng, Kospi and Taiwan gained 0.4-0.6 per cent . Straits Times went up 1.6per cent .
Reuters CRB declined 4 per cent . NYMEX crude fell for the sixth day and slipped $ 3.24 to settle at $ 37.59 a barrel. NYMEX Crude February futures is trading at USD 37.25/bbl. Near-term range for crude prices is seen between $33-42/bbl.
US markets continued to slide as crude falls nearly 8 per cent below $38/bbl. Base metals also dropped and Alcoa missed earnings expectations.
Dow Jones ended down 125 points at 8,474 and Nasdaq fell 32.8 points at 1,538.8. S&P 500 was down 20 points at 870.3. CBOE VIX ended up by 7 per cent at 45.8 and gained 9.42 per cent last week.
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