Markets end with modest cut; midcap, realty, power stocks drag

12 February 2008

The markets saw bounce back in early trade today on the back of some support from gobal cues but could not maintain the gains for long and traded with volatility for most part of the day before ending with modest cut. Broader markets completely underperformed the frontline counters providing extremely negative breadth.

Most of the indices were weak barring the metal, energy and banking during the day. Realty, power, consumer durables, FMCG and auto sectors were the clear laggards. On the volume front also, it was not encouraging.

Sensex ended down 22.90 points or 0.14% at 16608.01, and the Nifty was down 18.75 points or 0.39% at 4838.25. On BSE, about 556 shares advanced, 2411 shares declined, and 48 shares were unchanged. BSE midcap ended down 2.24% at 7058.38 and BSE smallcap closed down 2.82% at 9173.68.

BSE auto index ended down 1.57% at 4508.59. MRF, Hind Motors and M&M were the top losers.

BSE bankex was up 1.26% at 9867.36. ICICI Bank, SBI and Axis Bank were the top gainers. 

BSE capital good index closed down 1.07% at 14873.21.  Gammon India, Reliance Infra and BEML were the top losers.