Market Opens on a Feeble Note

The 30-share index opened unenthusiastically and trading weak. Select stocks from IT led the advancements while auto, cement, telecom and banking led the declines.

Asian markets also turned down in the early sessions on fears of the rejection in the housing demand in USA.

Bharat Thakur, assistant manager, Karvy stock broking told that some profit booking is expected to take place today. He is confident on power sector and commends Reliance Energy and HDFC for trading.

In the opening times, there were 903 progressions as against 1,777 declinations on the BSE index. The main leaders on the index were Reliance Energy, Satyam, BHEL, NTPC, HDFC Bank, L&T and Infosys. The major laggards at the BSE were M&M, Tata Motors, HUL, ACC, Ranbaxy, Maruti and TCS.

The shares of Allied Digital Services, which is a Mumbai-based IT player, were listed on stock exchange today with a noteworthy premium after getting brilliant reaction from investors for its IPO (initial public offering).