Markets buck global trend

The Indian bourses opened on a positive note at 17,200, tracking strong global cues. The index soared to a high of 17,352 but changed course after a robust industrial production data was declared which raised fears that the central bank may need to control monetary policy.

The IIP number increased to 10.3% Vs 9.6% (MoM).

The Sensex slipped to a low of 17,056 and finally ended at 17,119, down 71 points. The NSE Nifty settled at 5,117, down 17 points.

Among the sectoral indices. the bankex and the realty indices were down 1% each at 10,106 and 3,923, respectively.

INDEX SHAKERS...

Bharti Airtel is the major loser on the Sensex, down 3% at Rs 331. ICICI Bank, SBI, Jaiprakash Associates, Reliance Communications and HDFC declined over 1% each at Rs 863, Rs 2,266, Rs 229, Rs 184 and Rs 2,693, respectively.

...AND THE MOVERS

BHEL was the only prominent gainer on the Sensex, up 3% at Rs 2,364. NTPC, Infosys, ACC and Reliance Infrastrcuture added 0.5% each.

The market breadth was fairly negative, out of 2,912 shares traaded, 1,754 declined and 1,084 advanced so far on the BSE.

VALUE & VOLUME TOPPERS

Tata Steel has topped the value chart with a turnover of Rs 160.47 crore. It was followed by SBI (Rs 142.05 crore), DLF (Rs 98.46 crore), Reliance (88.04 crore) and Jindal Steel (Rs 85.78 crore).

Cals Refineries led the volume chart on the BSE with trades of 18.84 million shares. It was followed by Cox Kings (16.95 million), FCS Software (13.77 million), Unitech (9.27 million) and Suzlon Energy (8.84 million).