Markets have got corrected partially as seen in the morning deals, motivated mainly due to selling pressure of heavyweight stocks like SBI, Reliance Industries, Infosys, and ICICI Bank. The Sensex was up by 53 points reaching 18,392 and 50-share Nifty increased 18 points to reach5,589. Inthe field IT, healthcare, oil & gas, tech, consumer durables, and PSU, indices were all recorded to be slipping in negative territory; all of them going down by 0.1% to 0.3% each. The BSE auto index was up by 0.5% and was the top gainer amongst the sectors. Capital goods, metal indices, realty, and FMCG are all up by 0.2% to 0.4% each.
Among individual stocks, Multi Commodity Exchange of India (MCX) rallied more than 5% to reach Rs 1,560, especially after the latest stock exchange of the country, MCX Stock Exchange (MCX-SX) was seen conducting session of mock testing for the capital segment Monday to get the participants familiarised with the latest trading platform. Eicher Motors traded much higher by 4 percent to reach Rs 2,419, motivated by heavy volumes right after the Swedish bus, earth moving equipment, and truck maker Volvo came up with a proposal to make an investment of Rs 1,800 crore in VE Commercial Vehicles, a joint venture firm.
Markets were seen opening on positive note following solid global cues. The Sensex jumped by 100 points, opening at 18,438. On the other hand, Nifty went up 29 points, opening at 5,600. Asian shares increased on Tuesday mainly on hopes of fiscal crisis in US reaching a compromise, while euro plunged after Moody’s Investors Service cut credit rating ofFrance, once again reminding the investors of risks surrounding the debt crisis in euro zone.
Commodities and global stocks increased on Monday to restore the sharp losses seen in last week on hopes that lawmakers of US will arrive at a deal that could avert tax hikes of $600 billion and expenditure cuts that are scheduled to start in the month of January- the infamous “fiscal cliff”, which threatens the economy of US to go back into recession. Hang Seng went up 176 points to reach 21,438, Nikkei increased 8 points to reach 9,162, Seoul Composite increased 11 points to reach 1,889, and Taiwan Weighted increased 25 points to reach 7,154.