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Noon: Markets seesaw on cautious investment trend

Noon: Markets seesaw on cautious investment trend
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First Published: Tue, Feb 03 2009. 12 38 PM IST
Updated: Tue, Feb 03 2009. 12 38 PM IST
New Delhi: Markets turned choppy after a firm start on Tuesday as volatile buying and selling continued with investors still cautious about low profit earnings by companies.
The Bombay Stock Exchange (BSE) benchmark Sensex rebounded from Monday’s heavy sell off to start 1% higher on strong cues from positive Asian markets which in turn were boosted by jump in Nasdaq index.
At 12:35pm, the 30-share BSE index was trading 74.49 points up at 9141.19 and NSE Nifty was 2785.85, 19.20 points higher.
Realty segment continues to be the largest loser for the second day, some pressure is also on the consumer durables and auto sectors. On the other hand, significant buying is seen among the FMCG, oil and gas, banking and capital goods stocks.
Declining trend for DLF Ltd from Monday continues as it trades lower by 10.12% at Rs137.70. Other losers on the index were Tata Motors by 5.01% to Rs135.50, Hindalco Industries by 2.17% at Rs45.10, Ranbaxy Laboratories by 1.71% at Rs206.50 and NTPC Ltd by 1.24% at Rs178.90.
Meanwhile, even the Asian markets slipped into choppy session from their early gains. Japan’s index Nikkei, slipped by 0.6% and Hong Kong’s Hang Seng is down by 0.3% as worries about quarterly earnings resurfaced.
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First Published: Tue, Feb 03 2009. 12 38 PM IST
More Topics: India | Stocks | BSE | NSE | Sensex |