Tuesday February 19, 02:30 PM
Banks, PSUs lose shine... |
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By Equitymaster.com
The bourses continue to be in the red backed by profit taking in PSU and banking counters. Index pivotals are also lacklustre. However, software counters are key gainers. Overall, the market movers seem to be taking a breather and eyeing the pre-budget signals from New Delhi.
The BSE Sensex is at 3,612 (down 22 points) and the NSE Nifty is at 1,164 (down 9 points). The rupee is trading at Rs 48.64 per US dollar.
Private banks seem to be falling like a pack of cards. Their fall seems as steep as their gains yesterday. Market movers seem to have turned cautious at these counters and operators have resorted to booking profits. Similarly, markets seem to have lost their fancy for PSU counters too.
Index pivotals like HLL, ITC (ITCd.BO, news) and Zee, which had helped the bourses finish in the positive yesterday, are weak today. However, Reliance (RELI.BO, news) is steady and this has given bourses some strength.
Software pivotals are also in action. Digital, Infosys, Satyam, HCL (HCLL.BO, news) Tech, Hughes, Wipro (WIPRd.BO, news) and NIIT are among the key gainers. Auto and cement sectors are lacklustre today.
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