Markets close flat amid choppy trade; Realty, bank dip over 3 per cent

24 November 2008

It was a lacklustre session for the markets, as it remained choppy throughout the day, after sharp rally seen in Friday's trade. The benchmark indices closed flat. The Nifty has tried number of times to get back above 2700 mark and in the final trade, it managed to close above the same level. Global cues were mixed, as Asian markets ended weak while European indices were trading sharply higher. US markets futures were also trading in green.

The Sensex shed just 12.09 points or 0.14%, to close at 8,903.12, after swinging between an intraday high of 9,042.02 and low of 8,701.93. However, the 50-share NSE Nifty shut shop at 2708.25, up 0.55% or 14.80 points over previous close.

The BSE Midcap Index was down 14.37 points or 0.49% at 2,902.29 and the Small Cap Index fell 26.80 points or 0.79% to 3,363.96.

Among the frontliners, Satyam, ICICI Bank, DLF, M&M, SBI, Unitech, Suzlon Energy and Tata Communication were down 3-9%. However, Reliance Infrastructure, Maruti Suzuki, Tata Power, TCS, Bharti Airtel, Reliance Power, GAIL, NALCO, Idea Cellular and HCL Tech rose 2.5-6%.

Market breadth was weak; about 1,136 shares have advanced while 1,490 shares have declined. Nearly 570 shares are unchanged.

Rate sensitives remained under pressure in today's trade. Bank and Realty indices closed lower by 3%.