The Indian stock market opened lower and remained in negative territory due to concerns over debt in the US and Europe. The Sensex closed down 425 points and the Nifty fell 127 points. Banking and metal stocks dragged down the market, with Cairn India, Tata Motors, and SAIL declining around 5%. Commodity prices also fell in New York on a stronger dollar. The rupee weakened to close at 52.16 per dollar.

1. Market Summary 21-11-11
• Sensex opened the Friday trade on red note amid weak Asian
market cues
• The trade continued to remain on the negative territory on
renewed fears over US, Europe debt fears.
• At the end of the day, Sensex watered 425.41 points to
15,946.10 on BSE and Nifty declined 127.45 points to 4,778.35
points on NSE
• Out of the total stocks traded on BSE, 1,974 stocks were
declined and only 786 stocks were advanced on Monday
trading hours.
• Banking and Metal indices were dragged down the Indian
market on Monday.

2.  Cairn India, Tata motors, Sterlite Industries, SAIL and Sesa Goa
were shed nearly 5 percent each on NSE. Meanwhile on BSE,
ICICI bank, BHEL and DLF were watered 4-5% each.
 The shares of Bharti airtel were down 2% to Rs.389 per share
after the CBI conducted searches at its office premises located
at Guragon.
 European shares were trading on red note as the recession
fear clutched the market very strongly.
 JSW steel is looking to acquire steel companies in India to
strengthen its product portfolio and boost up the margins.
 Jammu and Kashmir Bank has fetched AA rating with a stable
outlook, assigned by Fitch Ratings. The bank has received the
top rating due to low default risk.

3.  Engineering firm L&T is targeting the overseas order to compensate
the slowdown in order placement in the local market.
 Piramal Group has decided to lend up to Rs.1000 crore to the real
estate projects in this fiscal year that ends on March 2012 through
new non-banking finance company.
 Suzlon Energy has secured 23.1 MW order from gas utility company
GAIL. The project is scheduled to be commissioned in Tamil Nadu
and Karnataka by the end of the financial year 2011-12.
 Commodities were trading on red note in New York as the strong
dollar makes the commodities to look expensive in the global
market.
 The Reserve Bank of India has been suspected to sell dollars at
51.69 levels in today’s FOREX market to stop the depreciation of
rupee value.

4. • Federal bank has signed a Memorandum of Understanding
(MoU) with Tata Motors for financing Tata’s commercial
vehicles.
• Indian rupee shed 83 paise and closed at Rs.52.16 per dollar
on the Interbank Foreign Exchange Trade due to weak
opening in the stock market and sustained dollar demand
from Foreign investors.
• WTI crude was trading around $96 during the electronic
trading on the New York Mercantile Exchange as the traders
were offloading the position on renewed economic fears in
major economies.