Mkts close positive, Sensex gain 93 pts

New Delhi: The markets managed to close in the positive terrain on the F&O expiry day, after experiencing highly volatile trades throughout the day.

Although the Asian markets closed weak (the Nikkei fell 1.34 per cent), the Indian markets chose a different path.

The BSE Sensex closed at 10,666 up 93.17 points and the Nifty closed with gains of 62 points at 3178.

The BSE Midcap was down 0.76 per cent to close at 5,043.61 and the BSE Smallcap was down 1 per cent and closed at 6,392.01.

BSE sectoral indices closed mix. Stocks from the FMCG, metal and oil and gas sector witnessed buying interest.

After being hammered in the previous trading session, the metal index jumped 2.9 per cent to close at 8,614.57. Stocks like Tata Steel, Nalco, SAIL, Hind Zinc, Sterlite Ind and Hindalco moved up.

FMCG stocks witnessed buying interest. The FMCG index was up 2.8 per cent to close at 1,989.54. Stocks like Shaw Wallace, HLL, ITC, Nestle, Tata Tea and Dabur India gained.

The oil & gas index was up 1.35 per cent to close at 5,164.43. BPCL, ONGC, Kochi Refinery, HPCL, Reliance and Petronet LNG flared up.

The auto index moved up 1 per cent to close at 4,891.21. Mahindra and Mahindra, Tata Motors, Hero Honda, Maruti Udyog and Escorts ended higher.

Capital good stocks like Gammon India, Greaves Cotton, BEML, BHEL, Aban LoydChiles, KEC Infrastructure sank. The capital goods index was down 0.96 per cent to close at 7,364.59

Pharma stock witnessed selling pressure. The health care index was down 1.46 per cent to close at 3,442.82. Stocks like Ranbaxy Labs, Cipla, Orchid Chemical, Ipca Labs and Nicholas Pirama tumbled.

The Bankex was down 1.24 per cent to close at 4,911.14. Bank stock like Kotak Mahindra, UTI Bank, ICICI Bank, Bank of Baroda and HDFC Bank closed in red.

Consumer durable stock also closed lower.

The NSE cash turnover was at Rs 10,110.65 crore and the NSE F&O turnover stood at Rs 43,741.16 crore. The BSE cash turnover stood at Rs 3016.01 crore. The total market turnover was at Rs 56,867.82 crore Versus Rs 53,053.92 crore on Wedneday.

According to experts, there has been a significant fall in equities globally and therefore India is not something, which is completely out of the pack.

We have to face the reality that markets can go up and down. Having said that, a near 20 per cent correction from a fundamental point of view, makes the market looks healthier.

From now on, the overall interest rate situation and the global liquidity situation will determine the direction of the markets.

Therefore, we will move more in tandem with the fundamental factors, rather than the technical factors of excessive leverage.