The markets were trading marginally lower in a choppy session of trade due to losses in auto shares. The BSE Sensex was at 16,959, down 1 point and the Nifty was at 5,095, down 3 points.

Earlier in the day Sensex fluctuated between gains and losses. The index touched a high of 17,084 in the morning session following positive global cues, however the index recieved a fresh jolt and touched a low of 16,865 after European markets reversed gains.

The European markets were trading lower after French retailer Carrefour cut profit targets citing uncertainty in the environment.The FTSE 100 fell 0.4%, CAC40 declined 0.8% and the DAX dipped 0.7%.

Back home, Banking and IT stocks continued to witness buying consecutively for the second day. Bankex jumped 1% to 11,084 levels and the IT index was quoting 5,593, up 2%.

However, the BSE Auto index was the top loser, down 1% to 5,903. Tatat Motors and Maruti Suzuki declined over 2% each and Hero Motor Corp was down 0.7%.

Coal India was the top loser among the Sensex stocks, down 2% to 332 after the coal ministry is said to have agreed to the power ministry’s demand to divert a part of the coal currently being sold through eauction to the power sector. Hindalco shed 2% to 130. Jindal Steel, Bharti Airtel and Maruti Suzuki, down 1-2% each, are the other major losers from the pack.

On the other hand, ICICI Bank was the top gainer. The stock jumped 3% to 885. SBI, DLF, TCS and Sterlite Industries, up 2-3 % each, are the prominent gainers on the Sensex. For more visit: Business Standard

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