Markets reel under pressure on weak global cues Analysis for Dec 11, 2014

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Indian benchmark indices continued to witness selling pressure amid weak global cues as the US markets slumped overnight while the Asian markets were trading on a weaker note. The 30-share benchmark index was down 180 points, while the NSE Nifty fell 60 points in the morning trade. Major laggards on the D-street included Gail, Infosys, Tata Motors and ICICI Bank among others. Further, the investors remained on edge ahead of key macro data such as industrial production and consumer price inflation data later this week.

At 10:27AM BSE SENSEX was at 27650.16 down by 180.94 points or by 0.65 per cent, while the NSE Nifty was at 8294.8, down by 60.85 points or by 0.73 per cent.

The BSE MIDCAP was at 10246.12, down by 55.23 points or by 0.54 per cent, while the BSE SMLCAP was at 11239.71, down by 72.83 points or by 0.64 per cent.

The BSE Sensex touched an intraday high of 27796.34 and an intraday low of 27558.57, while the NSE Nifty touched an intraday high of 8348.3 and an intraday low of 8276.15.

The top gainers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 257.85,+1.88%), Mahindra & Mahindra Ltd. (Rs. 1278.00,+1.00%), Housing Development Finance Corporation Ltd. (Rs. 1105.15,+0.46%), Sun Pharmaceutical Industries Ltd. (Rs. 835.50,+0.28%), Bajaj Auto Ltd. (Rs. 2571.60,+0.25%), among others.

The top losers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 446.00,-2.01%), Infosys Ltd. (Rs. 1929.80,-1.73%), Tata Motors Ltd. (Rs. 502.35,-1.65%), Larsen & Toubro Ltd. (Rs. 1519.90,-1.65%), ICICI Bank Ltd. (Rs. 347.60,-1.39%), among others.

Among the sectors, In BSE, BSE_HCS index was at 14861.34 up by -12.49 points or by -0.08%. Wockhardt Ltd. (Rs. 1039.90,+3.06%), Cadila Healthcare Ltd. (Rs. 1605.15,+1.48%), Apollo Hospitals Enterprise Ltd. (Rs. 1143.00,+0.88%), Ipca Laboratories Ltd. (Rs. 718.35,+0.62%), Glenmark Pharmaceuticals Ltd. (Rs. 800.50,+0.59%),.

On the flip side, In BSE, BSE_CGS index was at 15453.81 down by -151.53 points or by -0.97%. Havells India Ltd. (Rs. 292.60,-5.80%), Crompton Greaves Ltd. (Rs. 178.50,-2.16%), Suzlon Energy Ltd. (Rs. 14.43,-1.77%), Larsen & Toubro Ltd. (Rs. 1519.90,-1.65%), Punj Lloyd Ltd. (Rs. 37.20,-1.33%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2144 shares traded, 741 shares advanced, 1328 shares declined while 75 remained unchanged.

Story first published: Thursday, December 11, 2014, 10:48 [IST]
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