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.
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.
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.
OneIndia News (With input from Agencies)