Markets snap 4-day winning streak

The markets ended their four-day winning streak as lower global indices upset the applecart. The Sensex ended at  17,343, weaker by 57 points and the Nifty closed flat at 5,169. The consumer durables pack was the leading sectoral gainer for the second day in a row, while FMCG and metals traded weak. The broader indices, however, outperformed the benchmark indices.

The US stocks ended flat due to weakness in the energy and financial sectors. The Asian makets had a mixed day and the European markets have opened weak.

Tata Motors closed virtually unchanged at Rs 787 after touching a high of Rs 797 on reports that it had started trial production of the first batch of the Nano at its Sanand facility in Gujarat last week.

ITC was the top loser on the BSE, weakening by Rs 5 or 2.1% to Rs 250. Hero Honda dropped by Rs 36 or 2% at Rs 1707 and Sun Pharma slipped by Rs 19 or 1.2% to Rs 1,518.

Metal stocks witnessed some profit booking after the good run of the past few sessions. Hindalco Industries had advanced more than 18% in the preceding four trading sessions alone.

On the other hand, Reliance Infrastructure (stronger by Rs 17 or 1.5% at Rs 1,149), ACC (higher by Rs 10 or 1.1% at Rs 869) and Grasim (up Rs 28 or 1.1% at Rs 2454) built on their recent gains.

The market breadth was positive. Out of 2,934 stocks traded on the BSE, there were 1,773 advancing stocks as against 1084 declines.

 Tata Steel topped the value charts on the BSE with a total turnover of Rs 140.35 crore. This was followed by Sesa Goa (Rs 106.37 crore), HDIL (Rs 91.54 crore), SBI (Rs 77.26 crore) and Suzlon (Rs 74.92 crore).

Ispat Industries led the volume charts with trades of 15.20 million. It was followed by Suzlon (8.27 million), Unitech (7.25 million), IFCI (3.31 million) and Hindalco (3.10 million).