Is is as if the markets have stepped back a wee bit to take stock of what lies ahead. Or it's probably the uncertainty over how the euro-zone countries would reduce their deficits, despite the huge bailout package, that has curbed the unbridled enthusiam of Monday. The Sensex has now shed 150 points and is now quoting at 17180, while the Nifty is down 43 points at 5150.
The broader market space looks good though. While the Sensex is down nearly 0.6%, the mid-cap space has only edged marginally lower by 0.1% and the small-cap index has actually inched marginally higher by 0.2%. And the market breadth is positive; out of 2406 stocks traded on the BSE, there are 1264 advancing stocks as against 1045 declines.
ONGC continues to be the top loser on the BSE and giving it company are realty and metal stocks. The energy heavyweight has weakened by 2.4% at Rs 1025, while DLF has shed 2.4% at Rs 296, Hindalco has weakened by 1.8% at Rs 172, Sterlite has lost 1.7% at Rs 742 and Tata Stel is down 1.4% at Rs 592. After running hard in wake of the SC vertict in the gas case, index heavyweight RIL is trading flat, with a negative bias, at Rs 1079 this morning.
There has not been any change in the list of top gainers in the past one hour. On the other hand, M&M has strengthened by 1.7% at Rs 563, Jaiprakash Associates has added 1.3% at Rs 136 and Hero Honda has advanced by 0.6% at Rs 1897.
