Sensex remains choppy amidst weak global cues

Mumbai: The NSE Nifty opened below 5200 level amid volatility, tracking weak global cues. Fears of Greece default and economic growth worries dented sentiment globally. Back home, the Indian rupee depreciated by 36 paise in early trade to 50.73 a dollar, which was another cause of concern for the market.

The BSE benchmark was down 118 points to 17,054.94 and the NSE benchmark slipped 38 points to 5,184.20.

Asian markets were trading lower. Hang Seng, Nikkei and Straits Times fell 0.5-0.7 per cent. Shanghai, Straits Times and Taiwan Weighted were flat.

Frontliners like BHEL, Power Grid, JSPL, Tata Steel, Sterlite, Sesa Goa, Tata Motors, JP Associates, PNB, Axis Bank and NTPC went down 1-3 per cent.

However, Hero Motocorp, ONGC, Reliance Infrastructure and Bharti Airtel were moderately higher.
The CNX Midcap fell 39 points to 7,429. The market breadth was weak; about two shares declined for every share gaining on the National Stock Exchange.

In the second line shares, Kalindee Rail rose more than a percent ahead of Railway Budget next week.

HCL Infosystems was up 1 per cent and Rana Sugars gained 2 per cent. Kingfisher Airlines rose 0.7 per cent.

Hotel Leela was up 2.5 per cent after sources reclaimed that company was referred to CDR by SBI.

CESC up 5.5 per cent after DNA Money reports that company received nod for 13 per cent tariff hike.

However, Pantaloon Retail was down 5 per cent amid huge volumes.

Aurobindo Pharma and Indiabulls Power were down 2.7 per cent.

Elder Pharma tanked 3.5 per cent after IT department raided premises of company's top officials.

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