Thursday, December 18, 2008

Markets Today Open Flat And Suddenly Turned - Dec 18, 2008

The markets today open flat and suddenly turned choppy. The mixed cues from the Asian markets also added to the sentiments. The significant buying is seen among the IT, Power, Banking and Power stocks. The BSE Mid Cap and the Small Cap are also trading higher in the opening trade.

Satyam Computer shares got a boost today as it is trading with a gain of 8%, after yesterday''s big loss of over 30%.

The BSE Sensex is now trading above the 9,750 mark and the NSE Nifty trading around the 2,950 mark.

The Asian markets are also trading mixed as Nikkei and Taiwan Weighted index are trading higher by (0.30%) and (0.21%) while Shanghai Composite, Hang Seng ans Straits Times index are trading lower by (0.66%), (0.87%) and (0.44%) respectively.

The US stock market on Wednesday closed lower, with the financial sector weighed on the sentiments after Morgan Stanley posted a larger-than-expected loss for the latest quarter. The Dow Jones Industrial Average (DJIA) dropped by 99.80 points to close at 8,824.34. The NASDAQ Composite (RIXF) index decreased by 10.58 points to close at 1,579.31 and the S&P 500 (SPX) fell 8.76 points to close at 904.42.

Satyam Computer reported a top gainer among the BSE Sensex pack up by (7.31%) at Rs. 169.60 while ONGC the top loser down by (2.41%) at Rs. 699.25.

The overall market breadth remains positive as 733 stocks are advancing while 492 stocks are declining on BSE.

At 10.33AM, the BSE Sensex was up by 38.21 points at 9,753.50 and the Nifty was marginally up by 2.80 points to 2,957.15.

The BSE Mid Cap increased by 15.72 points to 3,151.89 and the BSE Small Cap advanced by 5.32 points to 3,683.88.

BSE IT index is trading higher by 62.32 points or (2.77%) to trade at 2,308.25. The top gainers are Satyam Computer increased by (6.96%) to Rs.169.05, Wipro up by (3.40%) to Rs.251.25, Infosys Technologies inclined by (1.60%) to Rs.1,158 followed by HCL Technologies grew by (1.44%) to Rs. 123.10.

BSE Power index is trading higher by 26.82 points or (1.54%) to trade at 1,770.46. The major gainers are GVK Power inclined by (4.20%) to Rs. 19.85, Torent Power up by (3.38%) to Rs.76.45, Suzlon Energy increased by (3.33%) to Rs.54.25 followed by Reliance Power grew by (2.59%) to Rs.118.80.

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