Markets off day's low

After witnessing a steep fall, the markets have recovered from the intra day lows and are trading higher. The Sensex is up 25 points at 19,890 and Nifty is at 5989 up two points.

Analysts expect the uptrend to continue and the indices may scale new highs after taking a breather. "Markets have surged sharply since September 2010. The downside, which started last week, can continue for some time. After this correction, Nifty could scale fresh highs of 6800-7200 by March next year," Mehraboon Irani, Sr. VP-Equity, FCH Centrum Wealth Managers said.

Meanwhile, Reliance Communications, ICICI Bank, ONGC and DLF are among the Sensex losers, down more than 2% each, while Hero Honda, Cipla, Bharti Airtel, and Infosys are among the gainers.

Realty index is the top loser among the sectoral indices, the index is down more than 3% at 3214, followed by Consumer Durables index and BSE banking index- Bankex down more than 2% each. However SE It index is the top sectoral gainer up 23 points at 6014 followed by Capital Goods and healthcare indices.
 
D B realty, Unitech, Orbit Corp and HDIL are losers among the Realty stocks.

The Broader markets are trading in the neagtive territory with Mid-cap index sheding 114 points at 8151 and the Small-cap index is down 197 points at 10,369.

MVL, United Breweries, Kwality Dairy and Indibulls Financial are the top mid-cap losers and Ansal Properties, Newtime Infrastructure and JVl Agro Industries are among the Small-cap losers.

On the economic front, inflation has cooled down, the food article inflation came in at 10.3% compared to 12.2% and fuel index inflation also eased to 10.57% compared to 10.67% for the week ended on November 6.