Indian Market:
Equity benchmarks saw a profit taking on Wednesday on the back of sell-off in financial, auto, metal, realty, telecom and capital goods companies' shares. The benchmark Nifty slipped below 6100-mark in second half of trade, especially after a fall in global markets.
Bank index was at 12,807.76, down by 313.36 points or by 2.39%.Realty index was at 2,773.93, down by 64.61 points or by 2.28%. Auto index was at 9,970.03, down by 192.21 points or by 1.89%and FMCG index was at 3,763.42, up by 7.70 points or by 0.21%.
Infrastructure Development Finance Company said on Wednesday it will open sale of tax-free infrastructure bonds with a face value of Rs 5,000 each on January 17, raising upto Rs 2929 crore for the firm.
Gujarat NRE Coke sees demand for coking coal from its Australian unit 'rising substantially' after floods there hit supplies to Asian steelmakers.
Global Cues:
Asian shares edge lower on Wednesday, 5 January 2011, as investors reigned in the solid New Year momentum that fueled markets the previous day. The key benchmark indices in China, Indonesia, Japan, Singapore, South Korea and Taiwan fell by between 0.04% to 0.7%. Hong Kong's Hang Seng was flat.
European shares ticked lower in early trade on Wednesday after strong gains in the previous two sessions, with weaker chemical shares outpacing a rise in telecommunications stocks.
China will let the yuan rise about 5 percent against the dollar in 2011 to combat inflation, an official newspaper said on Wednesday, while a former central bank adviser said the country needs to free up the currency.
Portugal will pay almost twice as much to sell six-month paper on Wednesday as it did in September, keeping the country at the sharp end of persistent market concerns about euro zone debt.
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