Volatility moves market into red

At 13:59 pm (IST), the BSE 30-share Sensex has lost by 8 points at 10501 and NSE 50-shrae Nifty is up by 8 points to 3084

The markets have again slipped into red. The markets are highly volatile and witnessing the alternate bouts of buying and selling. At 13:59 pm (IST), the BSE 30-share Sensex has lost by 8 points at 10501 and NSE 50-shrae Nifty is up by 8 points to 3084. TISCO, Wipro, Reliance Indusries, Reliance Capital and SAIL are the major losers among the 30-share BSE Sensex.

Banking stocks are under pressure as credit growth in the first quarter of FY07 has touched a three-year low of Rs. 154.84bn. Syndcate Bank has lost by 1.3% to Rs. 48, ICICI Bank slipped by 2.1% to Rs. 487, HDFC Bank is down by 1% to Rs.771 and Punjab national Bank shed 0.5%t o Rs. 324.

Satyam Computer has gained by 2.2% to Rs. 707 after the company announced to associate with Sweden's Episerver. The scrip has touched a high of Rs. 714 and a low of Rs. 682 and has recorded volumes of over 13 lakh shares on NSE.

Kesoram Industries has gained by 4.8% to Rs. 256. The stock has advance further in last three trading session. The scrip has touched a high of Rs. 256 and a low of Rs. 237 and has recorded volumes of over 3 lakh shares on NSE