Markets end flat amid choppiness; bank, realty stocks drag

29 January 2008

The markets opened with decent gap up in line with its global peers but could not maintain the gains for long and turned choppy and traded flat through the day before ending flat. Sensex ends with a modest loss but the Nifty managed to close in green. RBI also disappointed the markets by keeping the interest rates unchanged.

Analyst were strongly expecting little reduction in the rates which didnot happen and as a result the interest rate sensitive sectors like banking, realty and auto were badly hit. Banking and the realty stocks were severly hitm, however the FMCG, IT and oil & gas stocks traded firm through the day. Market breadth remained very thin but positive and the volume was also truncated. 

Sensex ended down 60.84 points or 0.34% at 18091.94, and the Nifty closed up 6.70 points or 0.13% at 5280.80. On BSE, about 1460 shares advanced, 1473 shares declined, and 56 shares remained unchanged. BSE midcap ended up 0.43% at 8021.24 and BSE smallcap was up 0.72% at 10377.67.

BSE auto index ended down 0.05% at  4923.74. Tube Investment, Bajaj Auto Hero Honda ended in red.

BSE bankex was down 3.48% at 11120.42. Bank O India, Canara Bank, IOB were were the top losers.

BSE capital good index was down 0.90% at 16962.06. Punj Lloyd, Bharat Electronics and Reliance Infra were the top losers.