Indian markets turned choppy in late session after staging a smart rally earlier. The benchmark indices were still in red but the Nifty slipped below its 200 DMA.
The Sensex and Nifty were up by by a quarter of a per cent at 2.30 pm.
Among the sectoral indices, FMCG led the losses. The index was down 2.24 per cent after leading the gains on Tuesday. ITC slid 3.05 per cent. Oil and gas made came back strongly after losing ground on Tuesday. ONGC gained 1.66 per cent. The broader markets were in the green too with the BSE mid cap up 0.36 per cent and the small cap gaining 0.31 per cent. The breadth of the market was positive with 52 per cent stocks advancing on the BSE.
Among the buzzing stocks, Marico gained 7.43 per cent. Bajaj Finserv rose 4.51 per cent on reports that Warren Buffet was looking to buy a stake in the company.
Bharti gained 5.02 per cent. The company announced that it had completed the acquisition of Zain's African business on Tuesday. However, the stock's rating was downgraded to BB+ by S&P today.
ACC, Tata Steel and Sterlite Industries rose on the Sensex while Tata Power, Wipro and Infosys were the main losers.
European stocks were trading with marginal gains. The CAC 40 was up 0.38 per cent, German DAX gained 0.19 per cent and FTSE added 0.09 per cent.
Asian stock markets were weak but pared losses towards the day's end. Japan's benchmark Nikkei 225 was down 98 points, or 1.04 per cent, to 9,403. South Korea's Kospi was down 0.26 per cent to 1,647.
The Chinese markets were in the green with the Shanghai Composite gaining 2.95 per cent and the Shenzen 300 adding 3.24 per cent.
The Dow Jones rose 123 points, or 1.3 per cent, to 9,939 after Fed Chairman Ben Bernanke's reassuring comments on the U.S. economic recovery.
Source http://beta.profit.ndtv.com/news/show/sensex-trims-gain-amid-volatile-session-72666
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