The market proceedings have started on a rather sober note, as has been the case globally. The US markets ended flat, with the Dow edging higher by five points and Nasdaq rising 21 points. And there is not much activity across Asia; Hang Seng has shed 47 points and Nikkei is virtually unchanged at 9,911. The Sensex has slipped below the 17k mark and is now quoting at 16989, lower by 34 points and the Nifty is at 5100, down ten points.
The barometer BSE Sensex index had vaulted 6.2% in 7 days to reclaim the psychological 17,000 level and the Nifty surpassed the 5100 mark on Thursday.
Hindustan Unilever has strengthened by 3.1% at Rs 254, ONGC has added 1.1% at Rs 1225 and Hero Honda has gained 0.5% at Rs 1998 to emerge as the leaders on the BSE. ITC, NTPC and Wipro are the other leading gainers.
Telecom stocks, which have been in the limelight post the news buzz surrounding Reliance Communication, are seeing some profit booking in this morning's trades. After gaining more than 10% in two days, RCom has shed 2.2% at Rs 160 to emerge as the top loser on the BSE and Bharti Airtel has lost 1.1% at Rs 270. Sterlite, Tata Steel and Tata Motors have lost in the region of a per cent each. And RIL has edged lower by 0.4% at Rs 1026.
The market breadth is neutral. Out of 1442 stocks traded on the BSE, there are 786 advancing stocks as against 600 declines.
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