Sensex News (sep-18-2012)

Sensex opens in red; metals, auto, banks down
DATE: 18/09/2012
MUMBAI: The Sensex opened in the red on the back of subdued cues from Asian peers with Hindalco, Wipro, TCS and ICICI BankBSE -0.92 % leading the declines. According to dealers, the market is likely to consolidate after the sharp run-up and some profit booking can be expected in the near term.

At 09:16 a.m.; the 30-share index was at 18,523.64, down 18.67 points or 0.10 per cent. It touched a high of 18,523.64 and a low of 18,480.96 in early trade.

The Nifty was at 5,606.40, down 3.60 points or 0.06 per cent. The broader index touched a high of 5,606.50 and a low of 5,586.45 in early trade.

"The trend deciding level for the day is 18,579/5,616 levels. If indices trade above these levels during the first half-an-hour of trade then we may witness a further rally up to 18,678 - 18,814/5,646 - 5,683 levels. However, if they trade below 18,579/5,616 levels for the first half-an-hour of trade then it may correct up to 18,444 - 18,345/5,579 - 5,549 levels," said Angel Broking note.

The BSE Midcap Index was up 0.08 per cent and the BSE Smallcap Index edged 0.01 per cent lower.

Among the sectoral indices, the BSE Metal Index declined 0.46 per cent, the BSE Auto Index was down 0.28 per cent and the BSE Bankex slipped 0.26 per cent. The BSE Power Index moved 0.38 per cent higher and the BSE IT Index advanced 0.22 per cent.

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