The market bounced back in today's trade and closed with marginal gains amid volatility, on the back of buying interest in technology, telecom, pharma, cement, select metal and auto stocks. Sensex closed 35 points higher at 16912.77 while broad based Nifty50 closed at 5042.05 with 9 points in green
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Bharti Airtel was the leading counter, jumped over 3%, as agencies told CNBC-TV18 that the company is going to buy 70% stake in Bangladesh operator Warid and deal size could be at $900 million.
Positive European cues were also supportive to the benchmark indices. However, selling in banking, FMCG and select oil & gas stocks capped the gains to major extent. BHEL and SAIL were also the losers.
The Sensex closed at 16,951, up 74 points and the Nifty as at 5,042, up 9 points, as per provisional data. About 667 shares advanced while 598 shares declined on the NSE.
F&O Check :
Volumes were on a lower side today and market is not giving any clear direction, reports CNBC-TV18's Anuj Singhal. It showed sings of breaking down in the morning but then has bounced back but the moment it dipped into green again it saw a bit of pressure. Overall also it’s looking quite flat from Nifty Futures adding about 7 lakh shares in open interest, trading at one point discount or quiet flat for the Nifty.
Individual stock future activity is continuing and the stock of the day clearly is Orchid and that has seen quite a bit of build up over this series but today you have seen a bit of unwinding nearly 8 lakh shares getting cut in Open Interest that stock is down close to 9%, So quite a severe fall over there.
In the morning we spoke about Hindustan Unilever and the kind of rollover action that is picking over there. Jan futures adding about 28 lakh shares in Open interest. So 35% rollover for HULthe stock is a bit in trade today down about Rs 4 but has seen very high rollovers.
Financials continue to be under pressure, so IFCI has seen a fresh built up of Rs 30 lakh shares so that stock is down close to 2%. Kotak Mahindra Bank is also down about 4.5% and has seen a fresh build up of about 5 lakh shares trading with negative cost of carry.
Among infrastructure stocks, Lanco Infratech is looking slightly weak in trade today and that has added quite a bit of OI in trade.
Idea has bounced back after couple of days of fall and that stock is in fact the biggest Nifty gainer has seen a fresh build up of 7 lakh shares.
International Markets :
European
FTSE : + 32.89
Zetra Dax +68.55
CAC +34.05
Asian
HangSeng : -202.18
Nikkei : + 93.93
US
Dow Futures : + 47
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