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Tuesday, November 20, 2007

Mkts open weak

The markets are still trading weak on account of heavy selling seen in the early trade. Banking, capital goods, auto, power and oil & gas stocks were trading low, however realty and FMCG stocks were in green.
Midcaps and smallcaps continue to outperform the frontliners. Market breadth on NSE was very thin with over 560 stocks on the advancing side and nearly 540 stocks on the downside. Rupee has weakened little bit and was quoting at 39.37 against USD.
At 10.40 am, the Sensex is down 223.25 points or 1.16% at 19057.55, and the Nifty down 97.40 points or 1.68% at 5683.50.
About 1832 shares have advanced, 1173 shares declined, and 62 shares are unchanged.
Religare Enterprises got listed on the bourses today at Rs 324 versus its issue price of Rs 185. Its trading strong at Rs 568 after slipping from its intra day high of Rs 600. Over 55 lakh shares were already traded on the NSE, making its one of the most active counters today.
Top gainers on the Nifty are ITC at Rs 201.10 up 2.26%, Tata Steel at Rs 876.40 up 1.99% and Suzlon Energy at Rs 2,056.15 up 0.99%.
Top losers on the Nifty are HDFC Bank at Rs 1,583 down 2.9%, Sun Pharma at Rs 1,074.05 down 2.38% and Wipro at Rs 440 down 1.85%.
Religare Enterprises, Reliance Inds and Reliance Petroleum were few most active counters on the NSE. In the IT space, Wipro, Satyam and Patni were trading weak with over 1.5% cut. HDFC Bank at Rs 1575 down 3.47%, Bank of baroda at Rs 373 down 2.84 and Allahabad bank at Rs 111.30 down 2.07% were the top losers in the banking sector.

Mkts open weak in line with its Asian peers

The markets opened with gap down today on the back of weak cues from the Asian markets. There was heavy selling witnessed across the sectors in the early trade. Religare got listed on the bourses today at Rs 324 versus its issue price of Rs 185.

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