GetPaidIndia.com

Indian markets trading firm, ignores global cues

December 12th, 2007

Asian markets are trading pretty bad today, blame the news about the Fed cut in the ratings. Shanghai Composite, Hang Seng, Nikkei, Straits Times, Taiwan Weighted are all down by over a percentage point. The US markets are pretty hit too yesterday. NYSE Composite, NASDAQ Composite, Dow Jones IA, S&P area down over 2%

Indian Markets too were hit a bit but the impact is little compared to the other Asian markets. Nifty is down by 0.14% and Sensex too is marginally hit. As volumes began picking, buying interest is visible in select stocks. IT sector continued to be the hard hit. Midcap stocks however are continuing to be getting good interest.

National Aluminum, Hindalco, Tata Steel, Idea Cellular, Unitech, BPCL, Maruti, HDFC, Cairn and GAIL are trading in the green. On the losers front are Infosys (trading at 1720 levels and is down by about 2.6%) followed by Wipro, Satyam, HCL, HDFC Bank, Suzlon, Bharti Airtel, VSNL, Sterlite Industries and ABB.

Entry Filed under: Equity Markets, BSE, NSE, Opening trade