Business Ideas

Weakness persists

The bears seem to have the upperhand for the last hour or so. The Sensex is now down 100 points at 17,601. The Nifty is down 26 points at 5,255. ___________________________________________________ UCO Bank seeks shareholders" nod for fund raising Negative view on state-run oil cos: Fitch Jan cement sales in high double-digit IT stocks have extended their previous day"s losses as the rupee has strengthened to a 15-month high. And auto stocks are correcting after gaining splendidly in the recent past. Tata Motors has slipped by Rs 26 or 3.2% to Rs 786 to be the top loser on the BSE. TCS, Wipro and Infosys have dropped more than 2% each at Rs 716, Rs 677 and Rs 2531 respectively. Grasim, Jaiprakash Associates and M&M are the other major losers. The market breadth is positive. Out of 2,738 stocks traded on the BSE, there are 1,685 advancing stocks as against 976 declines.

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