Mar 26, 2013, 01.58 PM IST
Key equity benchmarks turned volatile in mid afternoon trade, ahead of F&O expiry.
European markets opened flat.
Shares of engineering major Larsen & Toubro (L&T) dropped 2.22 percent on the company's announcement that it has acquired 50 percent stake in Future Generali India Insurance Company owned by Kishore Biyani's Future Group for around Rs 500 crore. L&T shares are down more than 16 percent in 2013, but rose more than 60 percent in 2012.
RIL shares are struggling in trade today, down 2.6 percent; after rising 21 percent in 2012, the stock has lost more than 6 percent this year.
Stocks that have touched their 52-week low today: MMTC, SAIL, Tata Steel, DB Realty, Hero MotoCorp.
Indices are trading flat after a small gap down in the opening bell on low volumes. The stock exchanges will remain shut tomorrow on account of Holi. Political uncertainty and weak global cues is keeping the market participants away from the market. The Nifty has tested its 200 Day Moving Average (DMA) of 5620 today.
Indices continue to be listless in the absence of buying support in a week shortened by two trading holidays.The Nifty has broken its 200 Day Moving Average (DMA) of 5620 this morning. A close below 200 DMA, an indicator closely followed by technical analysis, on a consistent basis indicates further weakness ahead.
Key indices were sluggish in early trade Tuesday, as the ongoing political uncertainty continue to weigh on sentiment. On Monday, Samajwadi Party chief Mulayam Singh revived talk of the Third Front, which political experts say is an indirect indication of early elections.
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