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Market Overview:Market ends with modest losses

It turned out to be a volatile Monday, with the Sensex closing 42 points lower and the Nifty down by 11 points.

Today’s Indian indices

The Indian markets were highly volatile in today’s trade and closed the first session of the new week with modest losses. Profit booking was seen today on the back of strong rally last week. Losses in metal, consumer durables, FMCG and realty stocks led decline while gains in power, capital goods and technology stocks capped downside.

Investors are keenly watching forthcoming events in the eurozone for easing debt crisis. Events included today’s meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel; ECB & BoE meeting on Thursday and the EU Summit on Friday.

All eyes are on the EU Summit on December 9 and a decision on allowing the European Commission to determine the fiscal policy for all.

Sensex movements

·         The Sensex started the trade 35 points lower at 16812 and slipped further to hit an intraday low of 16691.
·         Later tracking positive European cues, the index showed some recovery and hit an intraday high of 16863.
·         The gains were short-lived and the index fell again to close in red.
·         The Sensex closed 42 points lower at 16805 and the Nifty stood at 5039, down by 11 points.

Market sentiment

The market breadth stood neutral.
·         2842 stocks traded on the BSE, 1353 (47.61%) rose
·         1337 (47.04%) fell
·         152 (5.35%) stocks remained unchanged.

Viewing volumes

Top traded companies in BSE.
·         IFCI was traded the most, (0.51 crore shares).
·         Suzlon Energy (0.46 crore shares),
·         Indiabulls Real Estate (0.37 crore shares),
·         Pantaloon Retail (India) (0.24 crore shares)
·         HDIL (0.23 crore shares). 

Sectoral & stock screening

Major gainers
·         BSE Power advanced by 0.86%
·         BSE CG rose by 0.77%
·         BSE PSU surged by 0.24%.

Major losers
·         BSE Metal fell by 0.90%
·         BSE CD down by 0.75%
·         BSE FMCG declined by 0.67%

Among 'A' group stocks, top three gainers
·         Ashok Leyland surged by 5.39%
·         Shriram Transport Finance Co. up by 5.34%
·         Aurobindo Pharma up by 4.38%.

Top three losers
·         Pantaloon Retail (India) down by 12.86%
·         Indiabulls Real Estate fell by 4.19%
·         CESC declined by 3.98%.