Markets holding some gains
Vidrum / 14 Nov 2011
Indian markets gave up some of the morning gains, but continue to trade in the green zone. October 2011 inflation figures came in at 9.73%, against 9.72% (MoM). Among the sectoral indices, IT, Teck and Healthcare are trading strongly up more than 1%, while Realty and Metals are looking weak.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5562.11 | 0.30 |
| DAX | 6096 | 0.64 |
| CAC | 3168.48 | 0.61 |
| Hang Seng | 19559.65 | 2.21 |
| Nikkei | 8603.7 | 1.05 |
| Shanghai | 2528.71 | 1.92 |
| Sensex | 17307.92 | 0.67 |
| Nifty |
5204.95 | 0.70 |
European markets also started the trading in the green zone after Italy took steps to appoint a new leader and passed an austerity budget, which eased fears over the European debt crisis. The Asian markets continued their morning gains, and are trading firmly.
Back home, Sun Pharma is up 2.84% at Rs 518.15. Other stocks like HDFC Bank, Hero MotoCorp and Bharti Airtel are trading higher by more than 2%. IT heavyweights like Infosys, Wipro and TCS are up by 1% each, and are holding the markets strongly. Stocks like RIL, ITC, NTPC and ICICI Bank are trading marginally in the green zone.
On the other hand, auto major Mahindra & Mahindra is down 3.18% at Rs 811.70. Other losers include metals stocks like Tata Steel, Sterlite Industries, Jindal Steel, etc., which are trading in the negative zone.
Shree Renuka Sugar plunged 27% to Rs 37.65, after reporting dismal September quarter numbers. The company reported a consolidated loss of Rs 615 cr in Q4 September 2011, as against a net profit of Rs 128 cr in Q4 September 2010.
The market breadth, which indicates the overall health of the market, is weak. On the BSE, 1662 shares fell and 1014 shares rose, while 96 shares remained unchanged.
In conclusion, we expect the markets to remain volatile for the rest of the day, and thus advise readers to play with caution.
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