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Indian markets open weak follows global queues

December 28th, 2007

Like its Asian peers, the Indian stock markets opened in the red though Nifty, Sensex and CNX Midcap reversed its course and entered into the green territory.

Pharma sector is trading mixed. Ranbaxy and GSK Pharma is trading in the green while Cipla, Dr. Reddy are in the red.

Reliance Energy, NTPC, Tata Power are doing good. Banking counters are trading mixed.

Large cap private banks ICICI Bank and HDFC Bank are down by over 2.3%. Bank of Baroda on the other hand is in the green and is up 1.5%. Other large cap banking stocks including the State Bank of India is marginally in the green.

Transformers & Rectifiers had a decent opening today. The script opened at Rs. 813 vs Issue Price of Rs. 465 and is settling at Rs. 720 levels.

Weakness continues to haunt the largecap IT stocks. TCS and Wipro are down by 1.4% while Infosys and Satyam are trying to hold. CMC, HTL, Finantech, IFlex, Polaris, Tech Mahindra are in the green.

Entry Filed under: Equities, BSE, NSE, Opening trade