Markets trading in a narrow range
Shrikant / 23 Dec 2011
After a positive opening, the Indian markets have continued to trade in a narrow range. The BSE Sensex is currently trading up by 48 points or 0.31%, while the 50-share Nifty is trading up by 13 points or 0.28%.
Asian peer markets are trading in positives. The Hang Seng and KOSPI indices are both up by more than 1%, and the Taiwanese index is up by more than 2%. Shanghai has remained range-bound today.
Meanwhile, the European markets have opened in the positive. Both CAC and DAX are up nearly by 1%, while FTSE is up by 0.68%.
# Nikkei is closed for holiday
Benchmark Indices
Index
Rate
% Change
FTSE
5,493.89
0.68%
CAC
3,101.75
0.97%
DAX
5,906.62
0.93%
Hang Seng
18,582.96
1.11%
Nikkei#
--
--
Shanghai
2,204.77
0.84%
Sensex
15,861.93
0.31%
Nifty
4,747.05
0.28%
Among the sectoral indices, Bankex has given up the morning's losses and is trading on a flat note. CG and Metals are leading the sectoral gainers list with 2.57% and 1.18% returns respectively. While all the other indices have continued trading in the green, IT and Teck are still trading in the negatives.
From the Sensex stocks, BHEL is leading the list, having gained 3.37% so far. L&T and Sterlite Industries have also gained by more than 2% each. Auto stocks such as Maruti Suzuki, Mahindra & Mahindra and Tata Motors are seen trading in the green at this hour of the day. Bharti Airtel has been able to trim its morning losses by tiny margins, though not enough to trade in the positive. The state-owned NTPC and ONGC are also seen in the red zone.
Apollo Hospitals is still holding its ground with 7% returns. Sun TV Network, Manappuram Finance, NMDC, Lanco Infra and RCF have all surged by over 5%.
In the latest corporate announcements, Blue Star is setting up a factory in Ahmedabad to manufacture refrigeration products. The company's scrip is trading up by over 1%. Stone India has informed that it has received an export order worth US$ 1.3 million for freight car upgradation from the ASEAN market. The scrip is up by nearly 8%.
The market breadth, which indicates the overall health of the market, is positive. Out of a total of 2954 stocks, 1790 advanced, 1042 declined and 122 remained unchanged.
We expect the markets to remain range bound today.
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