Markets opened weak as expected, on subdued global cues.
Asian markets are mostly down today on fears of a US slowdown.
However, frontline stocks have recovered and have smartly
opened at 12925 and declined to a low of 12845 before
recovering to touch a high of 12962. The index is trading
higher by 47 points at 12954 at 11.10 AM.
opened at 3739 and slipped to a low of 3719 before recovering.
The index is now trading higher by 8 points at 3747.
continues to soar and is the best performer among index
stocks with gains of over 5.5 per cent.
Reddy's has reacted well to its results and is up more
than 4 per cent
stocks are continuing the rally from Friday, led by Bharti,
which has gained nearly 2.5 per cent. Reliance Communications
has gained nearly 2 per cent.
has rallied 3.5 per cent as the company has reported a
healthy profit, helped by lower crude oil prices. Indian
Oil, which also reported good results, has added more
than 1.5 per cent.
has added another 2.5 per cent while ABB has gained 1.5
Grasim and IPCL are the other major gainers.
has lost nearly 2 per cent as the bank's results have
not excited the markets, though they were in line with
is the worst performer among index stocks, down more than
2 per cent.
stocks are weak following the weakness in technology stocks
in the US on Friday. Wipro has slipped nearly 2 per cent
while Satyam has lost over 1.5 per cent. TCS is down more
than a per cent.
has lost nearly a per cent and is putting pressure on
Airways continues to correct and has lost nearly 1.5 per
BHEL and Glaxo are the other major losers.
and small caps are also trading with modest gains. While
stocks of companies, which have come out with weak numbers,
have been punished, significant price action is seen in
select stocks on positive news flows and good results.
NSE mid-cap index is now trading with modest gains of
less than 0.05 per cent. BSE mid-cap and the small-cap
indices are trading with gains of nearly 0.45 per cent
each. Market breadth on the NSE is positive in early trades
with nearly 1.5 stocks advancing for every declining stock.
Associates is locked in the 20-per cent upper circuit
on reports that the government has cleared the Taj Corridor
highway project. Seshasayee Paper is also locked in 20
per cent upper circuit.
Stock, Indian Hume Pipes and Jaypee Hotels are locked
in the 10 per cent upper circuits.
Vectra, which had a subdued listing on Friday, has recovered
and has gained over 11 per cent.
Spinning, Hikal, Vardhman Poly and Sundaram Fasteners
are among the major mid-cap gainers.
Industries, Star Paper, GTN Industries, Sical, Hyderabad
Industries, Softpro Solutions, Eveready and Kajaria Ceramics
are the major mid-cap losers.