Sensex slips in early trade; Hindalco melts ahead of Q3 nos
Published on Thu, Feb 09, 2012 at 09:19 | Source : Moneycontrol.com
Updated at Thu, Feb 09, 2012 at 09:49
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Sensex slips in early trade; Hindalco melts ahead of Q3 nos
The Sensex started off today's trade with mildly negative bias following a weak Asian markets. All global markets were flat as they adopted a wait and watch mode ahead of eurozone finance ministers emergency meeting on Greek austerity deal.
The Sensex started off today's trade with mildly negative bias following a weak Asian markets. All global markets were flat as they adopted a wait and watch mode ahead of eurozone finance ministers emergency meeting on Greek austerity deal.
The Sensex fell 58 points to 17,649.14 and the Nifty declined 19 points to 5,349.40.
Frontliners like ONGC, Sterlite, Sesa Goa, Axis Bank, SBI, Infosys, Reliance Power, Bharti and JP Associates were under pressure in early trade.
Hindalco was down nearly 4% ahead of third quarter numbers today. ACC slipped 0.5% ahead of quarterly numbers.
However, Cairn moved up nearly 2% as its Rajasthan block output increased to 133,000 bpd versus 125,000 earlier.
ICICI Bank, Power Grid, Bajaj Auto and Ranbaxy Labs were other gainers.
The CNX Midcap fell just 13 points to 7,422. The market breadth was neutral.
In the second line shares, Thomas Cook shot up 10% to Rs 60 a share. There were reports that the parent company is in discussion to sell India unit.
HMT rose nearly 5%. Gammon Infrastructure gained 7% as the company received Rs 1684 crore Andhra Pradesh Highway Project from NHAI
Manappuram Finance went up 3% ahead of conference call on RBI's move.
JSW Ispat, Essar Shipping and Jubilant Foodworks rallied 2.5-7.5%.
However, Orchid Chemical and Shree Renuka were down 1.5-2.5%.
