Commodity Online
MUMBAI: Markets traded weak on profit bookings at higher levels during the opening trading session today.
Benchmark indices, Sensex and Nifty traded weak with metal stocks trading in red. Sensex was trading at 12,115 points marginally down by 0.01%, while Nifty was down by 0.15% at 3678 points.
The political uncertainty may further keep pressure on the domestic bourses. However, with signs of recovery started coming from the economy the markets have started rallying on the bourses. However, the rally was also a part of a sharp surge in global equities triggered by hopes that the worst of the global economic recession might be over.
On Thursday, Sensex jumped by 3,956 points or over 48% from a 3-year closing low of 8,160.40 on 9 March 2009 to 12116 points.
The sectoral indices traded under pressure, BSE metals index was down by 0.30% at 8130 points, while BSE capital goods index was marginally up by 0.73% during the morning trading session.
Leading metal stocks including steel stocks and base metal stocks traded low today. Hindustan Zinc Ltd was down by over 4% at Rs.582, while Sterlite Industries Ltd was trading at Rs.495 down by 4.34% on the BSE.
Among the steel stocks, JSW Steel Ltd traded at Rs.413 down by over 3%, while Steel Authority of India Ltd (SAIL) traded positive with a gain of over 1% at Rs.127 during the morning trading session. Similarly, Bhushan Steel Ltd, which had shot up by over 36% on Thursday, fell in the opening session but recovered from early losses and traded firm at Rs.610 up by over 1.5%.
