MARKET OUTLOOK FOER 31.12.2009

Main Indian stock indices closed in the red on Wednesday even as uncertainty prevails on the issue of extending the trading hours beginning January 4. The market continued to be lackluster with only a day to go in the year 2009 and due to anxiety about the prospects for equities in 2010. Thursday's F&O expiry ensured that there was enough volatility as traders pondered over possible strategies to adopt ahead of another long weekend. What's more, Asian markets were pretty mixed and European stocks declined from multi-month highs. The key indices opened higher, and then turned choppy, only to slide to the day's low. From then on they successfully managed to come back into the positive zone before turning flat. In the end, the BSE Sensex and the NSE Nifty ended slightly down.
The Sensex finished at 17,343.82, down 58 points or 0.33% over the previous close. Earlier, it touched a high of 17,440 and a low of 17,322 after opening at 17,402. The Nifty shut shop at 5169, down 19 points or 0.36% from the last close. The Nifty touched a high of 5197 and a low of 5160 after opening at 5188.Meanwhile, the small-cap and mid-cap counters extended gains from Tuesday. The BSE Small-Cap index and BSE Mid-Cap index rose 1.1% and 0.3% respectively.Off the BSE sectoral indices, Consumer Durables and Real Estate indices posted modest gains. Select IT, Auto and Banking shares also ended higher. Notable losers included FMCG, Metals, Capital Goods, Oil & Gas and Pharma.
The big losers within the Sensex were ITC, Hero Honda, Sun Pharma, Hindalco, Tata Steel, L&T and ONGC. The list of winners included Reliance Infra, ACC and Grasim.Outside the key stock indices, the top losers were BL Kashyap, Great Offshore, Max India, 3i Infotech, PTC India, Time
Technoplast, Abbott India, Zandu Pharma, GTL Infra and Jindal Steel.Essar Shipping, Gammon Infra, HOEC, Marksans Pharma, TVS Motor, Jyoti Structures, JM Financial, Heidelberg Cement, Jagran Prakashan, Balaji Tele, Shiv-Vani Oil and Assam Co. were among the top gainers outside the main indices.
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