The market opened on a firm note, tracking overnight recovery in US stocks and sharp fall in global crude oil prices. However, the indices soon turned into the red as the investors were reluctant to build large positions ahead of inflation data to be released by the government today afternoon. All the sectoral indices on BSE, barring FMCG index, were in green The government will today release inflation data for the year from June 7, 2008.
Market men expect inflation to rise to about 10 per cent in the year from June 7, as the data will capture effect of a rise in retail fuel prices announced by the Union government on June 4.
The Dow Jones Industrial Average gained 34.03 points or 0.28 per cent to 12,063.09 on last night. The tech-laden Nasdaq Composite Index rose 32.35 points or 1.33 per cent to 2,462.06. Asian stocks were mixed today. The key benchmark indices in Hong Kong, China and Singapore were up between 0.70 per cent to 4.75 per cent. Key benchmark indices in Japan, Taiwan and South Korea were down between 0.90 per cent to 1.73 per cent.
Later, the 30-share BSE Sensex eased 80.51 points at 15,007.48. The index resumed high at 15,168.05 points with a gain of 80.06 points from it last close of 15,087.99 points. The broader based S &P CNX Nifty index of NSE resumed flat at 4,504.20 points, later it recorded a low of 4,460.50 points, with big loss of 43.75 points from it last close of 4504.25 points. The BSE Mid-Cap index fell by 0.02 per cent to 6,228.69. The BSE Small-Cap index was unchanged at 7,660.10.
ONGC was up by 2.08 per cent at Rs 871.30 followed by Satyam Computer by 1.07 per cent at Rs 477, Housing Development Finance Corporation by 1.12 per cent at Rs 2,263, and Ambuja Cements by 0.73 per cent at Rs 89.85, were the major Sensex gainers. The key Sensex losers were, Maruti Suzuki, which came down by 1.03 per cent at Rs 738.80, followed by Jaiprakash Associates by 1.02 per cent at Rs 175.65, Nharti Airtel by 0.83 per cent at Rs 798, Hindalco Industries by 0.35 per cent at Rs 171.35 and Reliance Communication by 0.55 per cent at Rs 523.40.