Nifty volatile; Jubilant Food, Coal India most active
09 May 2011
Equity benchmarks were trading with moderate gains in the second half of trade after a smart recovery from day's low. Bharti Airtel was the leading player on Nifty, with surging nearly 4%. Oil & gas, FMCG and metal companies' shares too were supporting the market at 14:46 hours.
HUL too turned positive after fourth quarter results. FMCG major has reported 2% decline in fourth quarter net profit of Rs 569 crore due to gains from extraordinary items in Q4FY10. Net sales jumped 13.5% to Rs 4,899 crore on year-on-year basis. The stock gained close to 1%. ITC jumped 1.7%.
Heavyweight Reliance Industries, Infosys, L&T and ONGC were marginally in the green. JSPL, Sterlite, Sesa Goa, Tata Steel and Hindalco from metal space were up 0.5-1.5%.
The 30-share BSE Sensex was trading at 18,570, up 52 points and the 50-share NSE Nifty gained 11 points at 5,561 amid volatility.
However, the sell-off continued in auto, financial, Anil Dhirubhai Ambani Group, select technology and pharma companies' shares.
Largecaps like TCS, Wipro, SBI, NTPC, Tata Motors, Maruti, Bajaj Auto, Axis Bank, Hero Honda and Jaiprakash Associates were down 1-2%.
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