Business Standard

Markets flat as banks, metals decline

FMCG and auto shares hold on to gains

Related News

Markets traded on a flat note in afternoon deals with weakness visible in realty, IT and metal shares. The was up 34 points at 18,373. Nifty meanwhile added 12 points to 5,583.

"Markets indeed have been trading in a narrow band. With yesterday's session, Nifty seems to have made a DOUBLe BOTTOm near 5550 level with a short term perspective. For the medium term however range would be of 5450 - 5650 and any break above 5650 needs to be watched for resumption of uptrend," said Ranak Merchant, Technical Analyst - Strategies, Sushil Financial Services.

In Asia, Nikkei bucked the general trend and slipped 11 points to 9143. Hang Seng, Straits Times, Kospi and Taiwan Weighted advanced 0.3% each.

FMCG index is up 0.4%, followed by auto and power indices. But BSE realty index shed 0.5% to 1880, followed by IT, consumer durables and metal sectors.

HDFC was the top mover - up 2.3% at Rs 783. Mahindra & Mahindra,Wipro, Tata Power and HUL also advanced in trades. On the other hand, Infosys slipped 1% to Rs 2333. Baja Auto showed weakness and dropped 1% followed by Hero MotoCorp. Metal shares - Hindalco and Jindal Steel and banking stocks like SBI and ICICI Bank are down in trades as well.

Among individual stocks, shares in Reliance Capital have gained around 1.3% after its CEO said the financial services firm has began talks to sell a 26% stake in its general insurance arm to a strategic foreign partner.

Disa India is trading lower by 4% at Rs 2,411, extending yesterday’s 8% drop, after the company’s promoter said that it will offload 173,483 shares in the company through offer for sale route on the BSE on today.

HT Media fell 2.8% after 0.46% equity changed hands in a bulk deal on the BSE today, 20 November 2012.

Read more on:   
|
|
|

Read More

Markets post best gains in 3-months on Fed optimism

The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE

Quick Links

 

Market News

Restructuring should precede PSU disinvestment

The disinvestment target of the government for 2013-14 is Rs 58,000 cr

Kalyan Jewellers raises Rs 1,200 cr from Warburg Pincus

Company is said to have diluted around 10-12% stake to the PE firm

Pulse prices move up on lower kharif output estimates

Lower kharif production estimates fuel the rise; fall in global output also likely to keep prices up

UP sugar crisis defuses as mills ready to go for cane crushing

Private mills owe farmers Rs 2,500 crore in arrears for the earlier crushing season

FIIs hive off Nifty shares in different baskets

Foreign institutional investors (FIIs), the biggest shareholders outside the promoter group, pared their holdings in almost half of the Nifty ...

Back to Top