Markets end lower in volatile trade

Major headlines

Satyam surges on settling US SEC fraud probes

Four Soft jumps on Japanese contract

DQE rises on inking pact for 3D series




Indian indices

Markets were under selling pressure and fell the most in more than two weeks. The central bank signalled that it may increase rates to control inflation at its meeting next month added to the worry. Selling in banking and technology shares weighed on the markets. On the other hand, the broader indices continued to outperform the frontliners, with the BSE Midcap Index up 0.47% and Smallcap up 0.78%. Overall, it was a rangebound session amid volatile trade.

Wipro, Hindalco, Bharti Airtel, ITC, M&M and Kotak Mahindra Bank were the top losers, down 1-2%. Cairn India was the leading dragger on the Nifty, falling about 3.87%. Realty was showing outstanding performance today, rising nearly 3%. Ackruti City, Anant Raj Inds, DLF, Godrej Prop, Indiabulls Real, Mahindra Life, Orbit Corp, Parsvnath, Peninsula Land and Phoenix Mills rallied 1-4%. Unitech shot up 5.76% and HDIL surged 7%.

In Midcap space, Jai Corp surged 12.5%. Wockhardt, Stride Arcolab, SpiceJet and Polaris gained 8-10%. However, Himadri Chemical, Fresenius Kabi, OnMobile Global, Allcargo Global and Eicher Motors lost 2.5-4%.

In Smallcap space, Shri Lakshmi jumped 14%. Heritage Foods, ITI, Shasun Pharma and Reliance Industrial Infra were up 8-9%. However, Gravita India, Lloyds Metals, R M Mohite, Henkel India and Ontrack Systems fell 5-9%.

Most active shares on the exchanges were BF Utilities, Reliance Industrial Infra, SBI, Mahindra Satyam, Sesa Goa, Tata Motors, ICICI Bank and Suzlon Energy

The Sensex started the session up by12 points at 19699 tracking unsupportive Asian cues. In early trade, the index extended gains and hit the day's high of 19811. After hitting higher level, the Sensex erased gains owing to profit booking that pulled the index off 3-month highs to touch the day's low of 19551 in the mid-morning trade. The Sensex remained in the negative terrain for the rest of the session. The Sensex fell 75 points to settle at 19612 and the Nifty closed below 5900 at 5892, down by 18 points.

Rupee update: India's rupee strengthened to a five-month high as overseas investors increased purchases of the nation's assets to benefit from economic growth. Foreign investors raised stock holdings by $1.56 billion in March, the most in four months, according to the Securities & Exchange Board.

Market sentiment

The market breadth was positive despite key indices closing in red. Of the 3,041 stocks on the BSE, 1,765 advanced while 1,165 declined. However, 111 stocks remained unchanged.

Viewing volumes

Wind turbine major - Suzlon Energy was traded the most, with over 1.23 crore shares changing hands on the BSE. It was followed by India's second largest real estate developer - Unitech (0.81 crore shares), industrial finance company - IFCI (0.43 crore shares), an India-based infrastructure company - Hindustan Construction Company (0.40 crore shares) and an integrated infrastructure development company - Lanco Infratech (0.36 crore shares).

Sectoral & stock screening

Six sectors closed in the red, while seven in the green. BSE Realty stood the top performer surging by 3.18%, followed by BSE Consumer Durables (CD) advanced by 1.11% and BSE Power rose by 0.73%. While, BSE TECk slipped by 0.84%, followed by BSE Information Technology (IT) down by 0.69% and BSE Bankex fell by 0.43%

Among 'A' group stocks, top three gainers were - Jai Corp gained by 15.27%, Housing Development & Infrastructure Ltd (HDIL) surged by 8.33% and Suzlon Energy rose by 7.54%. Top three losers were - Idea Cellular down by 5.05%, Mahindra & Mahindra Financial Services dropped by 4.04% and Cairn India declined by 3.87%.

Global signals

The European markets edged higher in volatile trade on Wednesday, with banks recovering ground after Portugal managed a successful bond auction and Marks & Spencer Group PLC inspired retailers.

The Asian indices ended on a mixed note on Wednesday. Japan's Nikkei fell to a one-week closing low, losing ground for a second straight day.

The US stock index futures point to a higher opening on the Wall Street, on optimism over economic recovery, and mergers and acquisitions activity.