Wednesday, November 11, 2009

India Nifty Opens Below 5000 Mark

. Wednesday, November 11, 2009

By stockOzone team

Markets have opened on a flat note with a negative bias on Thursday on the back of weak cues from the Asia markets. The Metal, banking and PSU stocks are among the top losers. On the other hand, the IT and the telecom stocks are among the major gainers. Even the BSE Mid-Cap and the Small-cap indices are trading with marginal gains.

Among the 30-components of Sensex, 17 are in the red and 13 are in the positive terrain. ICICI Bank, HDFC, SBI, Tata Steel and Reliance Industries are among the major laggards. On the other hand, major gainers were, Infosys, TCS, Bharti Airtel, Maruti and DLF.

At 10:11 am (IST), the BSE 30-share Sensex was down 29 points at 16,822 and the NSE Nifty fell 11 points at 4,992.

US stocks ended higher on Wednesday, with the Dow Jones Industrial Average finishing at a 13-month high for third straight day, as investor optimism escalated on expectations that interest rates would remain low for some more time.

The Dow gained 44 points, or 0.4%, to end at 10,291.26. The S&P 500 ticked up 6 points, or 0.5%, to close at 1,098.51, and the Nasdaq Composite rose 16 points, or 0.7%, to settle at 2,166.90.

Wall Street finished Tuesday's session mixed as investors turned cautious following Monday's big rally. But the Dow's 20-point gain on Tuesday left it at a new 13-month high.

European shares climbed, as miners received a lift from higher metal futures and results from E.On, Credit Agricole and J Sainsbury bolstered sentiment. The pan-European Dow Jones Stoxx 600 index rose 0.3% to 246.08, up for the fifth time in six sessions.

Germany's DAX index added 1% to 5,668.35, while the French CAC-40 index was up 0.8% at 3,814.39 and the UK's FTSE 100 index rose 0.7% to 5,266.75.

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

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