Published on Wed, Nov 18, 2009 at 09:59 | Source : Moneycontrol.com
Updated at Wed, Nov 18, 2009 at 10:17
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Sensex choppy; tech, telecom gain, banks, L&T dip
The Sensex started the day with a negative bias amid volatility. Banking, cement, realty and select infrastructure stocks were seeing some selling pressure while technology and pharma stocks were seeing buying interest.
The Sensex started the day with a negative bias amid volatility. Banking, cement, realty and select infrastructure stocks were seeing some selling pressure while technology and pharma stocks were seeing buying interest.
At 9:56 am, the Sensex fell 57 points to 16,992 and the Nifty was down 17 points to 5,045. However, the CNX Midcap gained 15 points at 7,180. About 558 shares advanced while 281 shares declined on the NSE.
Among the frontliners, Hero Honda, Maruti, SBI, ICICI Bank, Tata Steel, Unitech, DLF, Jairprakash Associates, PNB, Grasim, HDFC, Reliance Capital, NTPC, Reliance Infrastructure, Ambuja Cements, L&T and BHEL were the losers in the early trade.
However, Reliance Industries was marginally in the green. Infosys was up 1.5%. IDFC rose 1.8%. Bharti Airtel, Cipla, Cairn, Sun Pharma, Wipro, TCS and Jindal Steel were up 0.8-1%.
Midcap space:
Nagarjuna Fertiliser rose 1%.
Patni, Hexaware, Polaris and Rolta gained 2% each.
Alok Industries and S Kumars Nationwide were up 1.5%.
Thomas Cook was up 1%, as Cox & Kings IPO opened for subscription today.
However, Mahindra Satyam was down 2.5%, as the company got legal notice from 37 companies claiming refund of Rs 1,230.4 crore.
Global Cues:
Asian markets were trading mixed. Hang Seng, Nikkei, Jakarta and Straits Times were down 0.4-0.9%. However, Kospi, Shanghai and Taiwan Weighted gained 0.3-0.8%.
