Sunday, April 19, 2009

Sensex Flat Amid Mixed Asian Cues

. Sunday, April 19, 2009

By stockOzone team

The key benchmark indices are flat in early deals today. While buying interest is seen in realty, banking and capital goods stocks, selling pressure has emerged in IT counters. Asian markets are trading mixed today.

The benchmark Sensex has surged 13 points and is trading at 11,036 levels. In the broader markets, the Nifty is trading around 3,387.

“Signs of recovery in the economy are seen at this stage. Even in the US, the results of companies are mostly in-line with expectations or better than expectations. The stock markets in India are showing strength but they may see profit booking in the next one week,” said investment expert Seshadiri Bharathan.

Among the sectoral indices, the BSE realty index is up over 2.7 per cent and the BSE banking index has gained 1.3 per cent. The capital goods index on the BSE has also surged 0.6 per cent. The BSE IT index, however, is showing some weakness and is trading 0.3 per cent lower.

Among the Sensex scrips, JP Associates is the biggest gainer. It has surged 1.6 per cent in morning trade. HDFC Bank, Reliance Infra and M&M are the other main gainers in the pack. Hindalco and Sun Pharma, on the other hand, are the major losers in the group.

Asian markets are trading mixed today. While Hong Kong’s Hang Seng and China’s Shanghai Composite are up over 1 per cent each, Japan’s Nikkei and South Korea’s Kospi have slipped more than 0.5 per cent each.

Disclosure: Author does not own any of the stocks discussed here.

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