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Indian markets open mixed; Asian trading weak

November 5th, 2007

The weakness in the Asian markets is showing little impact on the Indian stock markets. Hang Seng is down 915 points or 3%. Most other Asian markets are down by 0.5% to 2%. However, the Indian markets made a good opening. Sensex is down 129 points and Nifty 50 down by 18 points. Though the Indian markets are trading in the red in the early morning trades, the extent of this downwardness is far better than other Asian stock markets. The Midcap stocks look strong indicating that the strength in the Indian markets is still intact.

Punjab National Bank, VSNL ahead of the news that it is selling a bit of its real estate holdings, Hindustan Petroleum, Bharti Airtel, Reliance Petroleum Limited, Unitech, NTPC, BPCL, GAIL and Cipla are in the top Nifty gainers list.

Downward lookers include ONGC, ICICI Bank, Sterlite Industries, Tata Motors, HDFC Bank, Glaxo, ITC, Sun Pharma, HDFC and M&M

Entry Filed under: Equity Markets, Opening trade