Nifty ends flat; Cipla, Wipro, L&T, ICICI Bank dip
07 Feb 2011
The Indian markets ended on a tepid note on Monday after a dismal start to the February series last week. The markets were trading in rangebound for most part of the day amid volatility albeit less than previous trading sessions. The broader markets too ended in red with minor losses. Overall, it was a quiet session for the markets indicating lack of conviction among participants.
Sanjay Dutt, Director of Quantum Securities does not expect the markets to fall below the 5200 level. In an exclusive interview to CNBC-TV18 he said that a Nifty below 5200 could not be justified on a fundamental basis.
Technical Analyst, Mitesh Thacker says, "It was a very weak closing on Friday. 5370-5400 are important levels but on an immediate basis we are still showing weakness that makes me nervous. It's quite likely that we might eventually close below this 5,370-5,350 support and head lower. Once that happens, after this breakdown you can see another decline to levels of about 5,220-5,150."
In the largecap space, Suzlon Energy, Hero Honda, ITC, Jaiprakash Associates and DLF ended with handsome gains of 2-3%. PNB, Cipla, Ranbaxy Labs, Wipro and HDFC lost in the range of 2-3%.
On the global front, Asian markets ended on a mixed note. At 15:53 hrs, Europan markets were trading strong with smart gains of 0.8-1%. Dow and Nasdaq futures were quoting in green.
The turnover for the day stood at Rs 107995 crore. NSE Cash segment clocked turnover of Rs 10765.93 Cr while BSE Cash segment recorded turnover of Rs 2808 Cr. NSE F&O segment contributed Rs 94421 crore turnover.
Top gainers on the BSE Midcap: Havells India, Sintex India, Shree Renuka, Tulip Telecom and Triveni Engineering were up 3.5-5%.
