Markets continue trading in a narrow range
Srujani Panda / 27 Dec 2011
Asian markets also continue to be in the red. Shanghai is down more than a per cent while Nikkei is down by 0.46%.
European markets have opened positive after home prices in the U.S fell at a slower rate and consumer confidence in the economy climbed. U.K. market (FTSE) is closed today.
Back home, DLF is the leading index loser with a loss of 2.8 per cent to Rs 191.05. Cipla has also extended its morning losses and is down more than 2 per cent. Banking stocks like SBI, ICICI Bank and HDFC Bank are trading weak (down in the range of 0.50% to 1.10%). Others in the list include stocks like Tata Motors, Tata Steel, Jaiprakash Asso, Coal India, TCS, down more than a per cent.
On the other hand, capital goods heavyweight L&T is holding on to its morning gains and is up 1.29 per cent to Rs 1039. ITC, BHEL, Wipro are among the other stocks trading up marginally in the green. Auto majors Mahindra and Mahindra and BAJAJ Auto are also trading in a positive territory.
Havells India is marginally up extending yesterday’s gains on news that it is entering into a joint venture with Shanghai Yaming Lighting.
Cairn India is down 0.37 per cent to Rs 321.65, even its announcement completing the first phase of exploration in Sri Lanka.
The market breadth, indicating the overall health of the market, is weak. On BSE, 1267 shares fell and 1137 shares rose. A total of 135 shares remained unchanged.
In conclusion, we at DSIJ expect the markets to remain volatile for the rest of the day and advise readers to play with caution.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5512.7 | 0 |
| DAX | 5907 | 0.48 |
| CAC | 3117.31 | 0.49 |
| Hang Seng | 18629.17 | 0 |
| Nikkei | 8440.56 | -0.46 |
| Shanghai | 2166.21 | -1.09 |
| SENSEX | 15896.74 | -0.46 |
| NIFTY | 4754.85 | -0.51 |
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