On Wednesday, the BSE 30-share Sensex was down 151.42 points or 0.76% to 19,647.77. The Sensex rose 18.42 points at the day's high of 19,817.61 in early afternoon trade and thereafter, the index lost 227.76 points at the day's low of 19,571.43 in late trade. The S&P CNX Nifty was down 51.80 points or 0.87% to 5,892.30.
The market breadth, indicating the overall health of the market, was weak. On BSE, 1971 shares fell while 963 shares rose and a total of 77 shares remained unchanged. The breadth swung between positive and negative zone earlier in the day. However, at last, the market breadth was weak.
The BSE Mid-Cap index fell 1.41% and the BSE Small-Cap index fell 1.54%. Both the indices underperformed the Sensex.
European stocks and US index fell after Moody's Investor Service said it has put Spain's Aa1 rating on review for a possible downgrade.
Interest rate sensitive realty stocks fell on worries higher interest rates will dent demand for residential and commercial properties. Banking stocks also fell ahead of the mid-quarter monetary policy review from the central bank at 12:00 IST today, 16 December 2010. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Auto stocks fell as the latest petrol price hike could dent demand for vehicles.
Intraday volatility was high. NSE's volatility index, India VIX, was down 0.19% at 21.42.
The indirect tax receipts rose 42.3% on year to Rs 2.08 lakh crore during April-November, the federal finance ministry said in a statement on Wednesday. Revenue collection from customs increased an annual 67% to Rs 86840 crore, while excise tax receipts grew 34.4% on an annualised basis to Rs 81984 crore.
Reports that top Indian firms have paid higher advance tax for the third installment of 15 December 2010. Some of them are:
1. HUL pays Rs 220 Cr Vs Rs 175 Cr (YoY)
2. RIL pays Rs 1,100 Cr Vs Rs 830 Cr (YoY)
3. TCS pays Rs 230 Cr Vs Rs 177 Cr (YoY)
4. Bajaj Auto pays Rs 370 Cr Vs Rs 310 Cr
5. SBI pays Rs 1,850 Cr Vs Rs 1,795 Cr (YoY)
6. LIC pays Rs 1,070 Cr Vs Rs 980 Cr (YoY)
7. Tata Steel pays Rs 1,000 Cr Vs Rs 650 Cr
8. Hindalco pays Rs 200 Cr Vs Rs 148 Cr (YoY)
9. M&M pays Rs 236 Cr Vs Rs 195 Cr
10. StanChart pays Rs 325 Cr Vs Rs 480 Cr
11. HDFC Bank pays Rs 750 Cr Vs Rs 400 Cr
12. ICICI Bank pays Rs 450 Cr Vs Rs 301 Cr (YoY)
13. Tata Motors pays Rs 220 Cr Vs Rs 100 Cr (YoY)
14. UltraTech pays Rs 165 Cr Vs Rs 90 Cr
FOR TODAY: SGX Nifty is trading at 5890, down 6 points. Asian markets are trading almost flat. Our market may open flat (negative bias) around 5888-5892. WATCH 5904 LEVEL CAREFULLY. ABOVE THIS LEVEL, NIFTY MAY GO UP TILL 5925 AND 5955 LEVEL. ABOVE 5960 THE TREND WILL BE UP. ON THE DOWNSIDE, WE MAY SEE 5870 LEVEL.
MOTILAL OSWAL EQUITY PICKS:: https://acrobat.com/#d=AvbU9TanN8wVIF9DdcD05A
NOTE:The stock market will remain closed tomorrow on Friday, 17 December 2010, on account of Moharum.
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