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Sensex turns volatile after hitting new high, Nifty holds 10,450

Equity benchmarks started off trade at record highs on Wednesday, but immediately slipped into red to trade volatile.

The 30-share BSE Sensex was down 18.70 points at 33,818.04 and the 50-share NSE Nifty fell 12.40 points to 10,450.80.

About 785 shares advanced against 445 declining shares on the BSE.

Tata Steel, UltraTech Cement, Dr Reddy's Labs, SBI, L&T, HUL and Power Grid were early losers while ONGC, Coal India, Maruti Suzuki, GAIL, M&M and Hero MotoCorp were gainers.

Nifty Midcap was flat.Religare Enterprises rallied 5 percent and Edelweiss Financial was up 1.7 percent. Edelweiss Financial will buy Religare's securities business which includes securities & commodities broking & depository participants services.

Steel major Tata Steel said its board has approved raising Rs 12,800 crore through a rights issue to finance organic and inorganic growth plans.

The board in its meeting today also approved a proposal to expand the capacity of Kalinganagar plant by 5 million tonne per annum (MTPA) to 8 MTPA with a total investment of Rs 23,500 crore, the company said in a statement.

Telecom operator Tata Teleservices (Maharashtra) today reported widening of loss to Rs 8,194.67 crore in the second quarter ended September 30, mainly on account of writing off its consumer mobile business.

The company had posted a loss of Rs 452.82 crore in the same period a year ago.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

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