Volatility in Indian Markets to continue on F&O expiry - LuvKush Finserve

Weakness in banks and capital goods shares, along with volatility ahead of the F&O expiry took the Sensex to a low of 19,042. The index finally ended up 10 points at 19,179. Nifty ended up 3 points at 5,837. IT index rose 0.6% at 5,796 on bargain hunting after recent fall.

FMCG stocks edged marginally lower on profit booking after recent upmove triggered on reports of likely normal monsoon this year.

Bankex slipped 0.3% to 14,348 in spite of hopes of a rate cut in the next Reserve Bank of India's Monetary Policy Review. Meanwhile, BSE mid-cap index slipped 0.4% at 6,283. Small-cap index held on to gains and advanced 0.4% at 6,051.

Reliance Industries (RIL) extended intraday gains - up 1.7% at Rs 804 after the company's telecom arm and Bharti Airtel signed an agreement for international data connectivity. Bharti Airtel, however dipped 0.4% at Rs 299.

Shares of fertilisers companies rallied up to 9% in otherwise weak market on hopes of normal monsoon which will boost demand for fertilisers. Rashtriya Chemicals & Fertilizers (RCF), National Fertilisers, Chambal Fertilisers and Chemicals, Coromandel International and Deepak Fertilisers and Petrochemicals Corporation are trading higher in the range of 2-9% on the BSE.

Source : Equity Bulls

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