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Indian markets trades flat; closes bit in the red

October 11th, 2011

Closing prices as of 11 Oct 2011

SENSEX 16536.47 -20.76 (-0.13%) NIFTY 4974.35 -5.25 (-0.11%) CNX Midcap 6997.75 10.85 (0.16%) BSE Smallcap 6802.09 15.13 (0.22%).

Top gainers: Tata Motors, NTPC, Sesa Goa, SAIL, Sun Pharma, Bharti Airtel (up over 3% each), Hindalco, Jindal Steel and PNB (up over 2% each)
Top losers: Infosys (down over 3%), HCL Tech, TCS, ONGC and Wipro (down over 2% each)

Trouble at Maruti’s Manesar plant continues with the strike entering into the 5th day. The strike by workers at Suzuki Powertrain India (SPIL) and Suzuki Motorcycle India in support of their colleagues at Maruti’s Manesar plant also continued becoming to appear like a nightmare for Maruti. Maruti Suzuki India (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) closed marginally in the green at Rs. 1074.75 up Rs. 1.55 (0.14%).

Tata Coffee (BSE: 532301; NSE: TATACOFFEE; ISIN: INE493A01019) which zoomed 10+% yesterday after news of JV with Starbucks to open coffee outlets cooled off a little bit today. The script ended at Rs. 888.20 down Rs. 2.15 (-0.24%) on the BSE.

A small union of Dhanlaxmi Bank, AIBOC Kerala State Union is holding a dharna against Dhanlaxmi Bank. The Union says the bank is playing risky with public money invested in the bank. Dhanlaxmi Bank stock shaked a bit and tested the 52-week low but later cooled when the management came out and said that all is well with the bank. The script closed at Rs. 64.60 losing Rs. 6.90 (-9.65%) amidst a volume of 36.71m shares.

Infosys (BSE: 500209; NSE: INFY; ISIN: INE009A01021) was under pressure today ahead of its quarterly results announcement tomorrow. Kotak earlier said it feels the Infosys Management would give a downward revision of its $ revenue targets considering the situation in the west. Infosys is down Rs. 82.10 or 3.17% and closed at Rs. 2509.20.

Entry Filed under: Equity Markets, IT & ITes, Automobile, Banks & NBFC, Closing Bell, Tea & Coffee