Wednesday 11 December 2013

Nifty at 6,300; L&T, Tata Motors down 2%

Following the negative global cues, markets opened in the red with the BSE benchmark index down 65 points at 21,190 and the Nifty gave off 25 points to open close to the 6,300 mark at 6,307.

The ones weighing on the indices in the opening trades were heavyweights like ICICI Bank, Tata Motors, L&T, RIL and ONGC.

The broader markets were relatively flat with the midcap index down 0.2% and the smallcap index flat with a negative bias.

Meanwhile, Asian markets look are traded sideways on Wednesday as investors booked profits on a range of once-crowded positions, sending the dollar and Wall Street lower, while lifting the euro, bonds and gold.

News that U.S. budget negotiators had reached a two-year deal to avoid another government shutdown should be a relief to markets globally, but perhaps not enough to brighten the year-end blues.

Stocks in US were off Tuesday, after a record close on the S&P 500, a day earlier. Traders are now eyeing next week's Federal Reserve meeting for potential cues.

The Dow Jones industrial average ended 0.33% lower, while the S&P 500 Index was down 0.32%. The pan-European FTSEurofirst 300 index fell 0.74%.
Following the negative global cues, markets opened in the red with the BSE benchmark index down 65 points at 21,190 and the Nifty gave off 25 points to open close to the 6,300 mark at 6,307.

The ones weighing on the indices in the opening trades were heavyweights like ICICI Bank, Tata Motors, L&T, RIL and ONGC.

The broader markets were relatively flat with the midcap index down 0.2% and the smallcap index flat with a negative bias.

Meanwhile, Asian markets look are traded sideways on Wednesday as investors booked profits on a range of once-crowded positions, sending the dollar and Wall Street lower, while lifting the euro, bonds and gold.

News that U.S. budget negotiators had reached a two-year deal to avoid another government shutdown should be a relief to markets globally, but perhaps not enough to brighten the year-end blues.

Stocks in US were off Tuesday, after a record close on the S&P 500, a day earlier. Traders are now eyeing next week's Federal Reserve meeting for potential cues.

The Dow Jones industrial average ended 0.33% lower, while the S&P 500 Index was down 0.32%. The pan-European FTSEurofirst 300 index fell 0.74%.

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