Thursday, October 04, 2007

Markets trading weak

The markets opened in green but on flat note,following weak Asian and US markets. Though it recovered for a brief period, it once again sunk into red, only to bounce back. Reliance Industries extended gains. Banking stocks declined. The market breadth was weak.

At 11.15 hrs IST, the Sensex is down 69.39 points at 17777.54, and the Nifty down 1.75 points at 5209.05.

Reliance Energy had risen 4.26% to Rs 1,512.20 and was the top gainer among the Sensex pack. It hit an all-time high of Rs 1,530.

Bharti Airtel (up 1.78% to Rs 986.10), Reliance Industries (up 1.03% to Rs 2,418.20), Ranbaxy Laboratories (up 0.83% to Rs 442.25) and Bajaj Auto (up 0.75% to Rs 2,560) were the other gainers among the Sensex pack.

Banking stocks declined, ICICI Bank was down 2.48% to Rs 1,061 and was the top loser among the Sensex pack. HDFC Bank (down 1.49% to Rs 1,410.20),State Bank of India (down 0.49% to Rs 1,900) had edged lower.

HDFC (down 2.09% to Rs 2,540),Tata Motors (down 1.445 to Rs 778.30) and Infosys (down 1.4% to Rs 1,973.45 ) were the other losers among the Sensex pack.

Most of the Asian markets, which opened before the Indian markets, were in red today. These included Hong Kong’s Hang Seng (down 0.95% to 27,225.72.), Taiwan's Taiwan Weighted (down 0.66% to 9,635.57) and Japan's Nikkei (down 0.78% at 17,066.24). However, Singapore's Straits Times (up 0.33% to 3,767.09) had edged higher.

American markets ended in red on Wednesday, 3 October 2007. The Dow Jones Industrial Average index declined 79.26 to 13,968.05 points and Nasdaq 17.68 points to 2,729.43 after selloff in tech stocks and fears of weak job data.



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