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Markets trade low, Sensex down 67pts

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SI Reporter Mumbai

The Indian markets began the trading session marginally down, tracking negative global cues and continue to trade low. The BSE Sensex is at 16,709, down 67 points while the Nifty is at 5,010, down 21 points.

Global equity markets and the euro slid on Wednesday, with US stocks staging a late sell-off on a US bank warning, amid growing doubts governments in Europe can contain the euro zone debt crisis.

The Dow Jones industrial average closed down 190.57 points, or 1.58%, at 11,905.59. The Standard and Poor's 500 Index was down 20.90 points, or 1.66%, at 1,236.91.

In Asia, the Nikkei and the KOSPI were trading 0.2% and 0.1% lower, respectively. Back home, the Nifty is likely seek support around 5,000–4,980, while it will face resistance around 5,060–5,075, analysts say.

 

Among the sectoral indices, BSE Realty at 1,686, up nearly 1%, is the only gainer.

BSE Oil & Gas and IT indices, down nearly 1% each, are leading the losses.

MphasiS, CORE Education & Technologies, HCL Technologies and Infosys, down 1-2% each, are the major losers from the IT space.

Other losers among the sectoral indices are  BSE Teck and Auto, down marginally.

On the Sensex, DLF, Tata Steel, JP Associates, SBI and Cipla, up 1-2% each, are the prominent gainers.

Coal India has shed nearly 2% at Rs 307 and is the major loser from the pack. Other losers include Reliance Industries, Infosys, Wipro and Hero MotoCorp.

The overall market breadth is negative as 798 stocks have declined against 600 advancing ones, on the BSE.

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First Published: Nov 17 2011 | 9:41 AM IST

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