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Indian markets extend their losses with the Sensex
December, 15th 2010

Taking cues from the Asian markets, the Indian markets have extended their losses with the Sensex trading down 119 points at 19,679.The Nifty has broken the crucial 5900 mark at 5897 down 46 points.

The inflation figures anounced by the Chinese government for the month of November came in at 28 month high of 5.1% which  has shown its effect on most of the Asian markets the Hang Seng is down  437 points at 22,993, Straits Times is at 3153 down 23 points, Nikkei is down six points at 10,309 and Kospi is at 2017 down eight points.

Back home DLF is the top loser among the sensex stocks trading lower by 3.2% at Rs 283, ICICI Bank, State Bank of India, Jindal Steel, Cipla and HDFC Bank are also trading lower by more than 1.8% each. On the other hand Infosys is the top gainer trading at Rs 3195 up 1.39%, Bharti Airtel, Reliance Communication, TCS and Sterlite Industries are the significant gainers up more than 0.8% each.

On the sectoral charts, the BSE Banking index- Bankex is down 2.3% or 301 points at 12,838, while the BSE Realty index has shed 2% or 58 points at 2786. Healthcare, consumer durables and FMCG indices are also in the red, down more than 0.2% each. The BSE IT (up 1%) and teck (up 0.81%) indices, however, are trading in the green.

Indusind Bnak, Kotak Mahindra Bank, State Bank of India, ICICI Bank and IDBI Bank are the top losers among the banking stocks down more than 2.8% each. DLF, Indiabulls Real Estate, HDIL, Sunteck Realty and D B Realty are the top realty index losers down more than 1.8% each.

Among the IT stocks Patni Computers is the top gainer trading higher by 5% at Rs 484 on reports of promoters looking to sell 45% stake in the company. Infosys, Core Projects, Infosys, TCS and HCL Tech are also trading higher.

The broader markets are witnessing profit booking, the BSE mid-cap index is down 57 points or 0.76% at 7593 and the small-cap index is down 67 points at 9215.

Bajaj Electricals, Indian Metals and Ferro Alloys, Money Matters Financial Services, Shree Ashtvinayaka Cine Vision and Shipping Corporation are among the top mid-cap losers. Sandur Manganese leads the small-cap losers charts down 10% at Rs 742 followed by Rollatainers, SE Investments, Zylog Systems, Eveready Industries and Technofab Engineering

 
 
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