Market Updates: A Dull Show After Two Positive Sessions

by khalid on 12/10/2011 · 2 comments

The Sensex today continued is positive trend majorly because of the heavyweight buying scenario in certain stocks. The sectors that performed significantly well were power, auto manufacturing, capital goods and certain stocks in the consumer durables segment. The stocks that pulled the upward trend low were two major sectors including FMCG and the software sector.

The petroleum sector was a mixed bag of gainers and losers where the gainers in energy included MRPL, Petronet LNG and Cairn India while the losers in the very same sector had heavyweights like ONGC, HPCL and Essar Oil. ONGC is among the top companies who generally bear losses in fuel due to government regulations and they have also expressed their concerns over their bottom-line that has been declining increasingly.

Engineering stocks also followed the trend in the petroleum sector and had gainers like Crompton Greaves, Praj Indus. and Welspun Gujarat. On the other hand the top losers in the segment included Cummins India & Honeywell Automation. BHEL, on the other side, brought good news of bagging two power projects in a row, one in Andhra Pradesh worth Rs. 40 billion and another in Madhya Pradesh worth Rs. 38 billion. The news helped a good amount of trading in the stock towards the positive direction.

The BSE went up by 81 points while the end of markets today saw a rise of 22 points in the Nifty above the closing levels recorded yesterday. The mid-caps and the small caps were also trading positively marginally. The rupee however traded at rs. Rs. 49.10 at the day close.

Bell The Bull says: A Positive Opening Ends In A Dull Show

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