Markets recovers, ends on positive note
Mumbai, Dec 12: Bombay Stock Exchange"s Sensex closed at 9694.80, up 49.34 points or 0.51 per cent. The index touched an intra-day high of 9745.51 and a low of 9281.89. While National Stock Exchange"s Nifty ended at 2921.75, up 0.05 per cent or 1.60 points. The broader index hit an a high of 2936.80 and a low of 2812.55. The buying in Reliance Industries, Reliance Communication, Reliance Infrastructure and banking stocks supported the markets in last couple of hours.
The markets recovered smartly but ended almost flat. On Friday, Dec 12 India was the only market which managed to out perform all the other global markets
Midcap
and
smallcap
stocks
continued
to
outperform
the
benchmarks.
BSE
Midcap
Index
ended
1.47
per
cent
up
and
BSE
Smallcap
Index
climbed
2.55
per
cent
up.
04:00
PM
The Sensex fell 298 points to 9,347 and the Nifty lost 87 points to 2,833, at 11:15 hours IST. BSE Midcap and Small Cap indices are flat. ONGC, Reliance Industries, Bharti Airtel, NTPC, TCS, SBI, Infosys, Reliance Communication, Wipro, BHEL, ICICI Bank, SAIL and L&T are extremely under pressure.
Automobile
stocks
like
bhart
Forge,
Tata
Motors,
Mahindra
&
Mahindra,
Maruti
Suzuki,
Bosch,
Hero
Honda
and
Exide
Industries
fell
lower
after
the
failure
of
US
Auto
bailout
package.
11:30
AM
Indian stocks opened sharply lower on Friday, Dec 12 as the $14 emergency bailout for the automakers failed in US Senate. National Stock Exchange's benchmark index, Nifty tumbled 90.5 points or 3.4 per cent to 2896.5. Bombay Stock Exchange"s 30-share Sensex slipped 329.24 points to 9371 from Thursday, Dec 11"s close.
Auto
stocks
were
the
worst
hit.
Asian
stocks
and
US
index
futures
declined
after
the
Senate
Republican
and
Democrat
negotiators
failed
to
reach
agreement
on
the
bailout
plan.
The
Nikkei
dropped
4.5
per
cent,
Topix
lost
4.16
per
cent,
Hang
Seng
plunged
6.13
per
cent
and
Straits
Times
was
down
3.08
per
cent.
10:00
AM
OneIndia News (With input from Agencies)