'Today's correction is kind of routine. At these levels, it will be difficult to maintain momentum and the markets have been showing signs of slowing down since the past month,' said Jagannadham Thunuguntla, equity head at brokerage firm SMC Capitals.

1. Sensex 220 points down; banking, auto stocks lose
Tue, Dec 15 05:23 PM
Mumbai, Dec 15 (IANS) A benchmark index of the Indian equities markets Tuesday shut shop
near its intra-day low, ending 220 points lower than Monday's close, mirroring the negative
sentiments at other Asian markets.
Banking, auto and energy stocks lost the most.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) -- which opened at
17,150.59 points -- ended at 16,877.16 points, down 220.39 points or 1.29 percent from its
previous close at 17,097.55 points.
It had risen more than 102 points during early trade.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,033.05
points, against the previous close at 5,105.7 points, a loss of 1.42 percent or 72.65 points.
Broader market indices also came under selling pressure, with the BSE midcap index down 1.56
percent and the BSE small cap index ruling a 1.42 percent lower.
The market breadth was tilted towards the negative, with 808 stocks advancing, 2,031 scripts
declining and 71 remaining unchanged.
There were only three gainers on the 30-scrip Sensex: ITC, up 1.27 percent at Rs.251.85;
Hindalco, up 1.07 percent at Rs.141.60, and Infosys, up 0.34 percent at Rs.2,506.55.
Among the top losers were Reliance Communications, down 3.73 percent at Rs.174.45; HDFC
Bank, down 3.27 percent at Rs.1,698.60; Tata Motors, down 3.18 percent at Rs.687.85, and SBI,
down 3 percent at Rs.2,180.75.
All but one of the 13 sectoral indices ended in the red. Some pharmaceutical and healthcare
companies found favour among buyers.
Data with markets watchdog Securities and Exchange Board of India (SEBI) showed that foreign
funds were net buyers Tuesday, having bought scrips worth $37.4 million.
'Today's correction is kind of routine. At these levels, it will be difficult to maintain momentum
and the markets have been showing signs of slowing down since the past month,' said
Jagannadham Thunuguntla, equity head at brokerage firm SMC Capitals.

2. 'The volumes are about 50 percent lower than the general average and December is expected to
be a slow month,' added Thunuguntla.
Trading was damp at other major Asian markets.
The Hang Seng, a benchmark index of the Hong Kong Stock Exchange, ended at 21,861.77
points, 1.01 percent or 223.98 points down.
The Kospi, benchmark index of the Korean Stock Exchange, was flat at 1,665.85 points, up a
meagre 0.06 percent.
A key Japanese index, the Nikkei, closed 0.22 percent or 22.2 points down at 10,083.48 points.
In China, the Shanghai composite index ended 0.86 percent in the red at 3,274.46 points.
European markets opened weak Tuesday but recovered as trading progressed.
The FTSE 100 index, benchmark index of the London Stock Exchange, was ruling higher at
5,326.68 points, 11.34 points or 0.21 percent up.
The French index, CAC 40, was ruling at 3,830.44 points, up 0.7 percent, while its German peer,
the DAX, was trading 0.8 percent higher at 5,802.26 points.