Markets recover from days low on short covering

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Markets recover from days low on short covering

This article was posted on Aug 23, 2011 and is filed under Market News

Markets off day’s low
SI Reporter / August 23, 2011, 11:21 IST

The Sensex slipped over 200 points from an opening high of 16,447, to touch a low of 16,213. The index, however, has recovered from the day’s low, and is now down 30 points at 16,312.

The NSE Nifty is down five points at 4,893.

The broader markets, however, seems to be trading with a positive bias. The Mid-cap index has gained 0.3%, while the small-cap index has moved up 0.6%.

Among sectors, the BSE IT index has rallied over 1% to 4,770. The Auto and FMCG indices, however, are down nearly 1% each.

Bajaj Auto has zoomed 5.5% to Rs 1,511. Jaiprakash Associates and Bharti Airtel have also rallied around 4.5% each to Rs 62.20 and Rs 400, respectively. Jindal Steel too has surged over 4% to Rs 505.

TCS, BHEL, Infosys, Larsen & Toubro and ICICI Bank are the other major gainers.

On the other hand, Coal India and Cipla have dropped around 2.5% each to Rs 383 and Rs 283, respectively. Mahindra & Mahindra, Tata Motors, DLF, ITC, NTPC and Wipro are the other prominent losers.

The market breadth is positive – out of 2,327 stocks traded so far, 1,329 stocks have advanced and 910 stocks have declined on the BSE.

Source: Business Standard

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