At 10:35 hours IST – equity benchmarks were trading with moderate losses amid volatility, due to sell-off in financial, metal, telecom, FMCG and realty companies’ shares along with ONGC, BHEL, Infosys and Cipla.
However, losses were capped due to buying in heavyweights Reliance Industries and TCS followed by Wipro, GAIL, JSPL, Sun Pharma, Tata Motors, Dr Reddy’s Labs, Hindalco and Tata Power.
According to Samir Arora of Helios Capital Management, there will be lower foreign institutional investors (FII) inflow in 2011. He said that FII inflow in India is likely to be USD 18-20 billion in 2011. Arora is not expecting India to outperform this year.
The 30-share BSE Sensex was trading at 20,422, down 76 points and the 50-share NSE Nifty fell 30 points to 6,116.
Among frontliners, Tata Power, Jaiprakash Associates, Hindalco, Jindal Steel, M&M, HCL Tech, Dr Reddy’s Labs and GAIL moved up 0.6-1.9%.
However, ICICI Bank, ONGC, Sterlite Industries, Bajaj Auto, HDFC, SBI, Axis Bank and PNB declined 1-2.2%.
Religare Enterprises, SBI, Jindal PolyFilm, Mahindra Satyam, Tata Steel, Reliance Industries, ICICI Bank and Coal India were most active shares on exchanges.
In midcap space, Jindal Saw, KGN Industries, Eicher Motors, Religare Enterprises and Great Offshore gained 3-6.5% while Anant Raj Industries, Gujarat NRE Coke, IBN18 Broadcast, Apollo Tyres and Allahabad Bank fell 2.7-4%.
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