After a smart rally on Tuesday, the capital market witnessed a volatile trade today with bout of profit-booking at frequent intervals in blue-chip stocks. The recovery of rupee against dollar also played a spoil sport.
The barometer index Sensex crossed the psychological level of 20,000 during the early trade, but plunged sharply thereafter to hit the day’s low of 19,778 and high of 20,056. It finally closed at 19,997. Nifty was up 16 points at 5,913.
Overall market sentiment was positive. Auto stocks were mixed. Shares of Financial Technologies (India) surged on high volume.
Foreign institutional investors had bought shares worth Rs 2,564 crore on Tuesday, as per provisional data from the stock exchanges.
Harrisons Malayalam went up 10 per cent to Rs 45 on the BSE after the company said the Kerala High Court has dismissed the State Government's petition challenging the authenticity of the company's title deeds and operations, as not maintainable. The announcement was made after market hours on Tuesday.
The major gainers were Financial Tech (27%), IRB Infra (14%), Bank of India (10%), UCO Bank (10%), GMR Infra (9%), Wockhardt (9%), Oriental Bank (9%), JSW Steel (9%), Siemens (8%) and Bank Of Baroda (8%).
Most European and Asian stocks were up as US President Barack Obama postponed a decision on military action against Syria after Russian President Vladimir Putin agreed to meditate in the Syrian crisis.
Investors are eyeing on the Fed policy meeting next week, where the US Federal Reserve is set to make public its further plans on $85-billion monthly bond-buying programme.