After a global fall on equities on Thurday, the market seems to be in a pull-back mode on opening today. Sensex started the day at 9154, up 107 points, and Nifty opened at 2760, up 23 points, from their previous close.
Thursday turned out to be a bad day across the globe as Asian markets had severe cuts while European markets drifted lower. The Indian market also had a bad day but survived with a decent close. Sensex shut shop at 9046, down 323 points and Nifty at 2736, down 98 points from the previous close. The market struggle continued with real estate being the real loser.
CNX Midcap index was down 1.50 per cent and BSE Smallcap index was down 2.16 per cent. The market breadth was negative with advances at 260 against declines of 919 on the NSE. Top Nifty gainers included Grasim and BPCL while losers included Unitech and Tata Communications.
BSE Sensex opened with a loss of 272.41 points, at 9,098.08 on Thursday and slipped below the psychological mark of 9,000, touching a low of 8,946.62. India`s benchmark wholesale price index (WPI), inflation continued its downward trend for the tenth consecutive week. It dropped to 5.24 per cent for the week ended January 3, 2009 as against 5.91 per cent, a week ago.
— Shailesh Shah