Markets ends flat: Midcaps, smallcaps rally

04 December 2007

The markets had a mixed close as the frontline indices closed flat but action was seen in midcaps and smallcap stocks. There were no big global cues on either direction as Asia ended mixed with a positive bias. Europe was trading weak with FTSE down neraly 1%. Banking and oil gas indices are the top laggards dragging the index down. Among the frontliners Tata Steel, M&M, BHEL, GAIL, HPCL, PNB, Siemens are trading higher providing support at the lower levels.

Banking and technology stocks were trading weak while consumer durables capital goods, metal, oil, power stocks were in the green. BSE sector indices were trading mixed and the breadth was in favour of the advances

Chambal Fertilisers, Jindal Steel, Sundaram Fastners, Ashok Leyland, Nagarjuna Fertilisers, Deccan Aviation, Arvind Mills, Videocon Ind are buzzing in the midcap space along with some refinery stocks.

Top losers are VSNL, ICICI Bank, Unitech, TCS, Maruti, Wipro and Tata Motors. Tata Steel, M&M, BHEL, GAIL, HPCL, PNB, Siemens are among the top gainers.

Sensex was down 73.91 points or 0.38% at 19529.50, and the Nifty down 6.65 points or 0.11% at 5858.35.

About 2059 shares have advanced, 953 shares declined, and 70 shares are unchanged.