Markets opened in the positive in appreciation of the good tax
numbers. There were mixed cues from the global markets. Asian
mining stocks rose after copper and platinum prices climbed, while the
US stocks closed at 14-month highs overnight as Abu Dhabi's $10
billion bail-out package for Dubai eased concerns. But inflation
concerns soon reared their head and progressively dragged the
markets deeper into the red until close.
Tata Motors paid Rs 100 crore in third quarter. Mahindra & Mahindra
paid Rs 195 crore versus Rs 4.5 crore in the same quarter last year,
Tata Steel paid Rs 650 crore versus Rs 260 crore (YoY), Hindalco
Industries paid Rs 100 crore as against Rs 40 crore in the same period
last year, Hindustan Unilever paid Rs 200 crore versus Rs 155 crore and
Larsen & Toubro paid Rs 270 crore as against Rs 210 crore in the year-ago period.
Meanwhile, the rating agency Moody’s upgraded its outlook on Indian government’s localcurrency rating (Ba2) to positive from stable. It also raised the ceiling on foreign currency
deposits of banks to Ba1 from Ba2 the change in the outlook was prompted by increasing evidence that the Indian economy has demonstrated its resilience to the global crisis and is expected to resume a high growth path with its underlying credit metrics relatively intact, Moody’s Investor Services said.
The BSE Sensex lost 220 points to end at 16,877 after touching a high of 17,200 and a low of 17,835. The index opened at 17,151 against the previous close of 17,097. The NSE Nifty slipped 72 points to end at 5,033. The Bombay Stock Exchange has announced change in trading timings for its equity and equity derivatives segments. With effect from Friday, December 18,
2009, trading will commence from 9.45 a.m. onwards, instead of the present timing of 9.55 am
Nifty trend: Nifty finally breaks 5080 level as we expected nifty reached 5018 level
immediately. Next support for nifty at 4942 so trade with caution .
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