Sensex, Nifty look set to end on flat note

Last Updated: Mon, Nov 19, 2012 09:38 hrs
Sensex drops 0.7 pct; banks down ahead of GDP data

With the mood remaining quite cautious and not much buying happening in front line stocks, the market looks headed for a flat close today.

Asian markets ended on a mixed note today and the trend in European markets is a bit weak at present. Though there are expectations that the U.S. government will come out with some constructive steps to bring in fiscal stability in that country, worries about near term outlook for the economy appear to be forcing investors on to a defensive mood.

The BSE benchmark Sensex is now up 4.40 points or 0.02% at 18,313.77. The broader 50-stock Nifty index of the National Stock Exchange is down 6.60 points or 0.11% at 5567.45.

Maruti Suzuki is up nearly 4% thanks to sustained buying support. Bharti Airtel is up with a gain of 2.3% and ITC is trading 2% up. Mahindra & Mahindra, Bajaj Auto, Cairn India, HCL Technologies, Hero Motocorp and ACC are also trading notably higher.

NTPC is up nearly a percent following an announcement from the company that the Unit 5 of its 500 megawatt Rihand Super Thermal Power Station has commenced commercial operation today. With this the commercial capacity of Rihand STPS will reach 2500 MW and the capacity of NTPC will rise to 37674 MW.

IDFC is trading lower by 3.3%. Lupin and Asian Paints are down 2.5% from their previous closing levels. Tata Steel and Jaipraksh Associates are also trading lower by over 2%. Tata Power, Tata Consultancy Services, Ambuja Cements, HDFC and Larsen & Toubro are also trading sharply lower.

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