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12-31-2009, 03:47 AM #1
Sensex opens steady at 17,402.24 points
After soaring to the 19-month high of 17,401.56 points, the 30-scrip Sensex of Bombay Stock Exchange (BSE) opened steady at 17,402.24 points in the early trade today following scattered demand from local opertors and quiet global markets.
Similarly, the Nifty of National Stock Exchange (NSE) also opened on a flat note at 5,188.75 points.
The Sensex had zoomed to a 19-month high at 17,401.56 points, with a gain of 40.95 points, yesterday after the four-day break.
The benchmark indices looked extremely volatile ahead of expiry tomorrow.
Power, telecom, metal, cement and major banking counters were seeing buying interest, while pharma stocks were under pressure, broker said.
The Sensex recorded the high and low at 17,440.05 and 17,392.70 points respectively in the intra-day trade, while the Nifty registered the high and low at 5,197.05 and 5,183.50 points respectively. Presently, the Sensex slid by eight points to 17,392.70 and Nifty by two points to 5,185.95.
The CNX Midcap gained 17 points to 7,430, about 564 shares advanced while 211 shares declined on the NSE.
Among the frontliners, Reliance Power, Jindal Steel and Power, Reliance Infrastructure, Suzlon Energy, Bharti Airtel, SBI, Tata Steel, SAIL, HCL Tech, DLF, ICICI Bank, ONGC and TCS were gainers.
However, Cipla, HDFC, HDFC Bank, PNB, L and T, Hindalco, Hero Honda, ITC, Ranbaxy Labs, Tata Motors and Sun Pharma were down.
In Midcap and Smallcap space, Kalindee Rail and Gallantt Metal surged by between five and nine per cent. Lloyds Steel and SAL Steel gained three per cent each. Bank of Rajasthan, India Cements, Prism Cement and Orbit Corporation were up by between two and three per cent.
A mixed trend was seen in Asian markets as Shanghai rose one per cent and Taiwan Weighted gained 0.73 per cent. However, Hang Seng fell 0.44 per cent. Kospi and Straits Times were flat.
The heavyweight shares that were in the green were ACC (up by 2.08 per cent), Insosys (by 1.10 per cent), Wipro (by 0.85 per cent), Grasim (by 0.84 per cent and ICICI Bank by 0.83 per cent).
While, Hero Honda dipped by 0.96 per cent, Sun Pharma slid by 0.91 per cent, Hindalco edged down by 0.83 per cent and HDFC Bank inched down by 0.81 per cent.
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