Thanks
to strong buying at several blue chip counters, the Sensex has rebounded sharply
from its lower levels and is down by just around 50 points at 15,161.56 at present.
The Nifty is down with a loss of 0.31% or 13.95 points.
Bullion markets in Ahmedabad and Mumbai are running out of stock of 100 gm gold bars due to limited supply. With prices falling more than Rs500 in a single day, traders rushed to banks to buy 100 gm gold bars. Since stock was limited, bookings have started.
Tata Capital said on Wednesday it had signed a memorandum of understanding with Mitsubishi UFJ Securities Co for investment banking, global offerings of Indian equities and other services.
Led by key bank and automobile stocks, the market took a trip down south again due to weak global sentiment amid declining growth this morning. Metal stocks, which had gone down sharply yesterday, have posted smart gains on renewed buying in the sector.
Infosys Technologies Ltd plans to hire 25,000 employees in the current financial year, 30% less than the 35,000 hired last fiscal.
Global slowdown, and increased productivity are the reasons for the lower hiring, a company official said.
The market opened on a positive note but changed track within the next few minutes as investors turned cautious ahead of release of the data on industrial production.
As operators pressed heavy sales ahead of release of industrial production data, the Sensex went tumbling down by over 225 points to 15,271.90 in mid morning trade today.
Bank and auto stocks have taken a beating this morning even as realty stocks, the other prominent gainers in recent sessions, remain somewhat mixed on selective buying support. A few stocks from FMCG, oil and power sectors have posted notable gains.
Amid alternate bouts of buying and selling in blue chip stocks, the Sensex, which had opened on a positive note this morning, has slipped into the red now. At 15,470.85, the barometer is down with a loss of 33.07 points or 0.21% at present.
