Markets witness profit taking at higher levels Weak US manufacturing data impacted the markets across the globe and the Sensex and Nifty closed flat. The Sensex closed at 17,135 up 8 points or 0.05% and Nifty ended marginally down 0.6 points or 0.01% at 5,083. The broad market indices ended down with the BSE Midcap losing 0.35% and the BSE Smallcap fell 0.04%. The market breadth was negative with the A/D ratio at 0.67:1 on the BSE. Turnover on the NSE was Rs.20,112 cr versus Rs.20,179 cr yesterday. IT, Bankex, FMCG and Metals indices were the major sectoral gainers, rising by 0.9%, 0.8%, 0.7% and 0.2% respectively. Selling pressure was witnessed in Healthcare, Auto, Consumer Durables and Oil & Gas indices. The BSE-30 stocks traded mixed. The top gainers from the BSE-30 were Bharti Airtel, RCom, ICICI Bank and TCS. The top losers were Maruti, HDFC, Grasim and Tata Power. While Bharti
and ICICI Bank were the main contributors to the Sensex gain, these were offset by losses in Reliance and HDFC. Inspite of the market starting the day on a positive note, these initial gains were wiped off due to nervous selling by foreign funds based on global developments. We expect the markets to witness positive momentum early next week barring large negative global or local developments over the 3 day weekend.
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