Sensex choppy with negative bias; RIL goes ex-bonus

Published on Thu, Nov 26, 2009 at 09:57 | Updated at Thu, Nov 26, 2009 at 11:15 | Source : Moneycontrol.com

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The Sensex started the day on a negative note and was consolidating ahead of F&O expiry. Reliance Industries was down 1% at Rs 1,087, the stock went ex-bonus today (bonus issue was 1:1). Metal stocks were seeing buying interest as the CRB Index was up 2.3%. Cement stocks were the strongest.

At 9:56 am, the Nifty was down 12 points at 5,095 and the Sensex fell 39 points to 17,159. However, the CNX Midcap was up 13 points at 7,244, as about 427 shares advanced while 239 shares declined on the NSE.

Among the frontliners, ICICI Bank, HDFC Bank, Reliance Industries, NTPC, HDFC, Tata Steel, TCS, L&T, BHEL, HCL Tech, DLF, Unitech and Tata Steel were the losers. Siemens was flat ahead of its numbers.

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Mahindra Satyam lost another 7.5%, which had lost 11% on Wednesday. Tech Mahindra lost 4%, which fell 7% yesterday.

However, ACC, Sun Pharma, Hindalco, Ambuja Cements, PNB, Sterlite, Industries, SAIL, Axis Bank and Bharti Airtel were the gainers in the early trade.

Midcap space:

Heidelberg Cement was up 4.5%. Prism Cement rose 4% and India Cements was up 2%.

Edserv Soft shot up 5% and KPIT Cummins was up 3.7%.

EIH rose 7.5%, as ITC board is considering several options for EIH stake and may consider counter-offer for the company.

Newly listed Astec Life was up 1%.

Dena Bank was down 1%.

Global cues:

Asian markets were down. Hang Seng and Shanghai fell 1% each.

The Dow Jones and S&P 500 closed at fresh 13-month highs on the back of strong economic data and weak dollar. The CRB Index was up 2.3% and the Dollar Index down 1%.

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