The key benchmark indices ended a choppy trading session
marginally into red as global markets fell after the Federal Reserve at the end
of a two-day policy meeting detailed its plans to remove excess liquidity from
the financial system, as previously planned. Stocks cut losses after an early
slide and pared gains after hitting fresh intraday high in mid-morning trade.
The market staged a strong intraday rebound before slipping into the red later.
During the day, the Finance Minister said that the rising food prices are an
area of concern and the government would consider imports to augment food
supply. The BSE Sensex ended the day losing 0.1%, while the NSE Nifty remained
unchanged. However The BSE Midcap and Small cap indices gained 1.1% and 0.9%
respectively. Among the front liners, JP Associates, HUL, Hindalco, TCS and
Tata Steel, gained between 1-3%, while, DLF, L&T, RIL, HDFC Bank and Maruti
Suzuki lost between 1-4%. In the
Midcap segment, Gammon India, Prakash Industries, MRF,
Kirloskar Oil and Pantaloon Retail gained between 8-10%, while Info Edge, Anant
Raj Inds, Sterling Biotech, Godrej Consumer and JK Bank lost between 2-3%.
