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Markets flat, realty stocks slide
August, 06th 2009

The key benchmark indices were trading flat today tracking mixed cues from global markets. The benchmark Sensex was down 78 points at 15,825 levels and the Nifty lost 21points at 4,672 .

The markets are consolidating in the range of 4,620 and 4,730. It the Nifty manages to close above 4,730 then it may see good momentum, said investment consultant Devang Visaria.

Realty, metal and IT stocks were under pressure in early trade. The realty index on the BSE fell 0.9 per cent and the metal index slipped 0.7 per cent. The BSE IT index was down 0.6 per cent.

Among the Sensex stocks, Sterlite Industries was the biggest loser. The stock shed 1.9 per cent. Tata Steel, Tata Motors and HUL were the other main losers in the pack, down more than 1 per cent each.

However, BHEL advanced 1.4 per cent and was the biggest gainer in the pack.

US stocks slipped on Wednesday as investors shied away from big moves ahead of the government's monthly reading on job losses and the unemployment rate, which comes out before the start of trading on Friday.

The Dow fell 39.22, or 0.4 percent, to 9,280.97. The broader Standard & Poor's 500 index fell 2.93, or 0.3 percent, to 1,002.72, while the Nasdaq composite index fell 18.26, or 0.9 percent, to 1,993.05.

Asian markets were trading mixed today. Chinas Shanghai Composite was down 2.4 per cent while Japans Nikkei gained 1.2 per cent each. Hong Kongs Hang Seng rose 0.4 per cent.

 
 
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