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Realty stocks gain in flat markets
January, 15th 2010

The key benchmark indices continued to trade flat in the afternoon deals. The Sensex was down 7 points at 17,577 levels and the Nifty was flat at 5,258.

While realty and power stocks rose, capital goods counters were under some pressure.

Among the Sensex stocks, RCom was the top gainer. The stock jumped 4.6 per cent.

TCS, DLF and Maruti were the other gainers in the group. The stocks were up over 1.2 per cent each.

M&M, ONGC and Hindalco, however, shed over 1.4 per cent each.

In Asia, Intel's earnings boosted technology stocks on Friday but market benchmarks were mixed amid patchy figures on the US economy.

The dollar charged higher against the euro, sending the oil prices below $79 a barrel.

Giving a lift to technology stocks was results from Intel that confirmed things were looking up for the biggest maker of computer microprocessors. Its income, revenues and profit margins all came in well ahead of expectations.

But caution prevailed overall with weak reports on retail sales and initial unemployment claims in the US adding to the nervousness about slower growth in China after it announced curbs on the lavish lending that has fueled the country's economic recovery.

 

 
 
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