Thursday, October 13, 2005

Stock markets down in morning session - Business News

The stock markets opened lower this morning despite the annoucement of good second quarter results by software majors like Infosys and TCS.
The Bombay Stock Exchange (BSE) Sensitive index (Sensex) opened 20 points lower at 8,520.48 compared to Tuesday's close of 8,540.56.

It was trading at 8,518 at 1157 hrs, lower by 22 points.

The BSE Health care index was down by 1.66 per cent, the BSE IT and TECk indices were also down by 1.15 per cent and one per cent respectively.

The indices gained this morning are the BSE FMCG index by 1.15 per cent, BSE Midcap index is up by 0.73 per cent and BSE Smallcap index is up by 0.58 per cent.

The negative sentiments in the market is likely due to the foreign instituional investors (FIIs) turning net sellers on Monday by 291.20 crores.

The National Stock Exchange (NSE) S&P CNX Nifty also opened lower at 2,584.40 points compared to its last close at 2,589.55. The Nifty was trading at 2,576.90 at 1052 hrs, lower by 13 points.

The rise in crude oil prices, hovering around at US 64 dollars per barrel compared to lower level of USD 61-62 for the past few day, is also keeping the market sentiments down this morning.

The top losers this morning were pharma majors like Ranbaxy Laboratories and Dr Reddy's Lab. Others included Infosys Tech, Tata Steel, Bharti Tele, ONGC, Hero Honda, Wipro, Satyam and HDFC Bank.

The top gainers this morning were ITC, ICICI Bank, Gujarat Ambuja Cements, Relinace Energy, SBI, ACC, Maruti, HDFC and Reliance Industries.

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