Trades Close Negative, Bajaj Finance Hits A High On Rights Issue Plans

The Indian markets continued to see volatile trades in the last hour of trade ahead of the industrial output data for Nov 2012, which is due tomorrow. The Nifty and Sensex both closed flat with a negative bias in the range of 0.05%-0.07%. Nifty closed down by 3 points at 5968.65 and Sensex was lower by 14 points at 19652.44.

The advance-decline ratio ended on the weak side. On the NSE, 979 shares have declined and 461 shares have advanced.

Top 5 NSE Gainers: ONGC stood as the top gainer, up by 3.44%. Other gainers included Tata Motors, Bank of Baroda, Axis Bank and HDFC Bank.

Top 5 NSE Losers: UltraTech Cement is among the top losers on the NSE, down by 3.22%, followed by Ambuja Cements, BHEL, Sesa Goa and Hindalco Industries.

Only 4 out of 13 sectoral indices ended in positives. Bankex and Oil & Gas were the highest gainers, up by 0.37%-0.55%. Power and HC closed as the strongest losers, down in the range of 0.89%-1.17%.

The majority of the Asian markets are in the green. Taiwan Weighted is trading up by 0.93%, KOSPI has gained 0.75%, Nikkei 225 is up by 0.70% and Shanghai Composite by 0.36%.

The European markets are trading flat. FTSE 100 and DAX are trading on the positive side between 0.16%-0.30%, while CAC 40 remains unchanged.

Buzzers: Bajaj Finance has struck a record high and managed to close up by 2.49% at Rs 1405. The stock gained after the company announced its plan for a Rights issue. Its board of directors will meet on Jan 15, 2013 to consider a proposal for the Rights issue of its equity shares.

Infosys hit a high of Rs 2342.65 and a low of Rs 2309.20 in today’s trade. It ended the day on the lower side, down by 0.37%. The stock would be in action in tomorrow’s trading session as the company is going to announce its Q3 results.