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| Markets extend losses |
| SI Reporter / New Delhi Feb 10, 2012, 13:08 IST |
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Markets have extended losses in the noon deals post the dismal set of IIP numbers released by th government today. The Sensex has slipped 100 points to 17,729 levels and the Nifty is down 37 points at 5,376 levels.
The Indian industrial output during the month of December rose by a slower-than-expected 1.8% in December compared with a year earlier, government data showed on Friday. The figure stood at 8.1% in December 2010.
Back to markets, Hindalco is the top loser among the Sensex stocks, down nearly 3% to Rs 154. Maruti Suzuki has also shed 2.3% to Rs 1,240. Sterlite Industries, ICICI Bank, Infosys, index heavyweight Reliance Industries, GAIL India, DLF, Hindustan Unilever, Mahindra & Mahindra and HDFC Bank are also among the laggards.
However, Tata Steel is the top Sensex gainer, up 4.3% to Rs 470 bouncing back 10% from day’s low level of Rs 432, after the company’s managing director HM Nerurkar said that an improvement in operating performance, coupled with a number of new marketing initiatives, should increase profitability at the South East Asian operations.
Tata Motors, Bharti Airtel, Bajaj Auto, ONGC, L&T, Wipro and ITC are also among the notable gainers on the BSE benchmark index.
IT, realty and banking stocks are witnessing selling pressure. The BSE IT index is the top sectoral loser, down nearly 1% or 58 points to 6,008 levels. Realty index has also slipped 0.9% or 17 points to 1,888 levels. Bankex, healthcare, oil & gas and power indices are also trading lower by 0.2-0.6% each.
At the same time, Consumer Durable index is the top sectoral gainer, up 0.3% to 6,204 levels. PSU, metal, capital goods and auto stocks are witnessing some bit of buying.
Core Projects, Mphasis, Hexaware Technologies, Financial Technologies, TCS and Tech Mahindra are the top losers from the IT spaces.
From the consumer durable space, TTK Prestige is the top gainer, up 6.4% to Rs 3,176. C Mahendra Exports, Gitanjali Gems, Bajaj Electricals, Blue Star and Rajesh Exports are also among the gainers from this space.
Among the individual stocks, Shasun Pharmaceuticals was locked in 20% upper circuit at Rs 77.90 after reporting a consolidated net profit of Rs 24.6 crore for the third quarter ended December, against a loss of Rs 9.65 crore in the corresponding quarter last year.
The broader markets are trading on a flat note. The BSE mid-cap index is up 6 points at 6,245 levels and the small-cap index has advanced 14 points at 6,906 levels.
The overall market breadth is neutral as 1,337 stocks are advancing while 1,385 are declining.
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