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Indian markets open positive, IT continues to stay dull

Nifty opened in the green and is up about 0.27%. Sensex is up 90.85 points and is up 0.45% in the first few minutes of trade.

The Information Technology sector however seems to continue to stay dull. The Large Cap IT stocks are marginally in the red while the Midcap IT Stocks are mixed. Infosys, Satyam and Wipro are all in the red.

Traders seems to be bullish on the Banking sector. Corporation Bank and Kotak Bank continued to see the uptrend are up over 1% this morning. ICICI Bank, HDFC Bank, Axis Bank, Union Bank of India are trading positive. SBI is at about Rs. 2425 levels.

Amongst the Midcap gainers of the first hours of trade are Amtek Auto, Ansal Infra, HCC, Shree Cement, Tata Chemicals, Ashok Leyland, Hotel Leela, BEML, Titan Industries, Chennai Petrol amongst others.

In the Telecom space, both Reliance Communications and Bharti Airtel are marginally in the red.

Add commentDecember 27th, 2007

Asian markets trading largely positive - December 27, 2007

Almost all the Asian markets are trading positive despite profit booking being evident in few of the markets particularly on the Nikkei 225.

Almost all of the Asian markets are trading marginally in the green. Nikkei 225 however is down by 0.53%. On the other hand, TSEC Weighted Index is up 2%. Midcap stocks are trading good as the TSEC Taiwan Mid-Cap 100 Index zoomed 204 points.

Earlier the US markets closed marginally in the green. NASDAQ is up 10.91 points, Dow Jones Industrial Average is up 2.36 points while S&P 500 is up 1.21 points.

Infosys Technologies Limited (INFY) ADR last traded at $46.64 up 0.33.

Add commentDecember 27th, 2007