Markets trading flat; Realty, Metals up
Shrikant / 11 Jan 2012
The Indians markets are continuing to trade on a flat note. The benchmark BSE is currently trading 21 points up, while the Nifty is trading up by 11 points.
Other Asian indices have closed in a mixed bag. Shanghai closed with marginal losses, while the Hang Seng and Nikkei were marginally in the positive. The Taiwan index rose slightly but the KOSPI decreased by 0.41%.
Meanwhile, the European markets have opened in the red, indicating a negative sentiment in the markets.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,693.38 | -0.06% |
| CAC | 3,208.53 | -0.07% |
| DAX | 6,153.67 | -0.15% |
| Hang Seng | 19,105.69 | 0.53% |
| Nikkei | 8,447.88 | 0.30% |
| Shanghai | 2,276.05 | -0.42% |
| Sensex | 16,186.33 | 0.13% |
| Nifty | 4,860.55 | 0.23% |
Back home, from the sectoral indices, Realty and Metals have continued to trade in the positive, up by 4.28% and 1.88% respectively. Others such as CD, Oil & Gas, Power and Bankex are trading with about 0.5%-1% returns. FMCG, Auto, Teck and IT are marginally down. The financial shares of Reliance Industries are up by 1.24%.
16 of the 30 Sensex stocks are seen in the green zone. Hindalco, Sterlite and DLF are still holding their ground, with over 4% returns each. Tata Steel and Hero MotoCorp have both surged by 2% or more. On the other hand, Mahindra & Mahindra, Jindal Steel and Cipla lost over 1% each. The IT stocks such as Infosys, TCS and Wipro are also down. The quarterly results of Infosys are due tomorrow.
Among the ‘A’ group stocks, Wockhardt surged by 13% after yesterday’s announcement of the launch of the generic version of the drug for Rhinitis. Jet Air India is also up by 9.77%. HDIL and Adani Enterprises have both gained over 8% till now.
Among the major corporate announcements, Sangam (India) has bagged a Rs 63 cr toll project from NHAI. NMDC has signed a Rs 509 cr contract for a By Product Plant (BPP) Package for the upcoming 3 MTPA Integrated Steel Plant at Nagarnar with Shriram EPC. The scrip is up by nearly 1%.
The market breadth, which indicates the overall health of the market, is positive. Out of the total of 2084 stocks traded, 2076 stocks advanced, 903 stocks declined and 105 stocks remained unchanged.
In our opinion markets will remain flat ahead in the day.
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