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Sensex trading lower...Metal, Oil and gas stock slips

India Infoline News Service | Mumbai | March 07, 2013 10:14 IST

At 10:10 am (IST), the BSE Sensex was trading at 19235, down 17 points over the previous close.

At 10:10 am (IST), the BSE Sensex was trading at 19235, down 17 points over the previous close. It had earlier touched a day's high of 19275 and a day's low of 19212. It opened at 19222.

The NSE Nifty was quoting at 5,808, down 10 points over the previous close. It earlier touched a days high of 5,820 and a days low of 5801. It opened at 5,801.

The BSE Small-Cap index and BSE Mid- Cap index was trading flat.

Infosys, TCS, Wipro, Tata Power, Hero MotoCorp, L&T, BHEL are among gainers in Sensex and Nifty.

RIL, HDFC Bank, Bharti Airtel, Coal India, Bajaj Auto, SBI, ICICI Bank, Tata Steel, HDFC, NTPC, Maruti Suzuki, Mahindra & Mahindra, Gail India, Dr Reddys Lab, ITC, Cipla are among losers in Sensex and Nifty.

Teck, FMCG, Capital Goods, Realty, Power indices are the gainers.

HC, PSU, IT, Consumer Durables, Bankex, Oil and gas indices, Metal indices are the losers.

US economic reports were better than anticipated. The Dow Jones marginally but managed to close at a new record high of 14,296.39. The S&P 500 was a tad higher. The Bank of Japan, the Bank of England and the European Central Bank will announce their policy decisions later today. The Nikkei is up almost a percent. South Koreas Kospi Index is down half a percent. Australias S&P/ASX 200 Index is a bit lower while Singapores Straits Times Index is a flat. Brent crude and US oil ended lower. US government data showed domestic crude inventories rose much more than forecast.

Meanwhile, Moodys Analytics says the worst may be over for India. The Indian government, with a new finance minister and economic adviser, implemented several reforms and cutbacks through the second half of 2012 designed to narrow the budget deficit and restore confidence in the government and the economy. Government spending grew just 1.9% y/y in the December quarter, as various spending cuts, particularly on fuel and diesel subsidies, kicked in, the Moodys Analytics report said.

Results watch: Lords Chloro

Trends in FII flows: The FIIs were net buyers of Rs5.24bn in the cash segment on Wednesday, while the domestic institutional investors (DIIs) were net sellers of Rs5.99bn, as per the provisional figures released by the NSE.


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