Markets continue to stay under stress since morning nevertheless, have managed to bounce back from their days declines. The revival is witnessed after the GDP data came forth that was in order with the economist.
The Telecom, Metals, IT and Capital Goods stocks are among the main decliners. Asian markets cues are also not that promising, the Nikkei index was 0.4% low, Hang Seng was 1.8% low and Shanghai SE Composite was 5.5% low.
The BSE has bounced back with 117 points and the NSE has recovered almost 30 points from their intra-day down. The NSE floats around 4700 level and the BSE has maintained over the 15700 standards.
21 stocks are in the down beat zone and 9 are in the positive terrain among the 30-components of Sensex. L&T, ITC, Infosys, Reliance Industries and TCS were among the major slackers. On the contrary, supporting the negative trend were HDFC Bank, ONGC, DLF and NTPC.
The BSE 30-share dropped 134 points and the NSE dipped 40 points at 11:46 am IST.
ITI shares have rushed by more than 4.5% after the company declared that it bagged Rs.1.67bn contract from BSNL.
The stock hit at Rs.37.45 and hit an intra-day up of Rs.39.20 and a down of Rs.36.75. Entire traded volumes remained at 0.35mn shares.
Maytas Infrastructure shares are set at 5% higher circuit to Rs.112.75 after ~1.7mn shares altered hands in 5 financial dealings.
The stock hit at Rs.112.75 and got an intra-day up of Rs.112.75 and a down of Rs.103. Entire traded volumes remained at 1.8mn shares.
Cairn India shares have rushed by more than 3.5% after Cairn India on Saturday began production of crude oil from its Mangala mine in Rajasthan. Mangala is the biggest of 25 discoveries done by Cairn in Block RJ-ON-90/1.