3rd Dec Market Closing

3rd Dec Market Closing:

If the recent spate of scams weren’t bad enough, the government is closing in on yet another scam, this time involving the hospitality sector. Sources close to the government say it is zeroing in on misuse of foreign direct investment or FDI in the hospitability business. It is believed that FDI is being used for arbitrage by foreigners. The fear is that the funds, meant for hotels, are getting diverted to realty.
The industry department is currently probing the issue to ascertain projects misusing FDI. Sources say the government is all set to take immediate action to stop the exploitation guidelines.
Nifty closed 8.75 points down at 6002.95  
Sensex closed 0.19 points up at 19992.89
The 30-share benchmark index, BSE Sensex opened flat with a rise of 15.19 points or 0.08% at 20,007.89, while the broad based NSE Nifty began flat with a gain of 1.65 points or 0.03%, at 6,013.35.
Sensex Movers
I C I C I Bank contributed fall of 24.67 points in the Sensex. It was followed by State Bank Of India (16.17 points), Reliance Industries (14.02 points), Tata Steel (10.96 points) and Sterlite Industries (India) (9.97 points).
However, Infosys Technologies contributed rise of 16.97 points in the Sensex. It was followed by Hero Honda Motors (6.68 points), Hindustan Unilever (5.77 points), Mahindra & Mahindra (4.97 points) and Bharti Airtel (3.13 points).
Biggest gainers
Hero Honda Motors 1839.55 (2.62%),
Hindustan Unilever 299.25 (1.37%),
Mahindra & Mahindra 799.90 (1.11%),
Infosys Technologies 3125 (0.87%),
Wipro 427.60 (0.71%),
Cipla 370.25 (0.69%).

Biggest losers
Jaiprakash Associates 107.40 (5.78%),
Reliance Infrastructure 836.45 (4.60%),
D L F 306.65 (4.22%),
Reliance Communications 139.35 (3.24%),
Sterlite Industries (India) 165.85 (2.80%),
Tata Steel 614.55 (2.20%)
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining 2.46% and 3.12% respectively.
The major losers in the BSE Midcap were Ackruti City (19.99%), Core Projects and Technologies (9.22%), Alstom Projects India (4.49%), A I A Engineering (3.07%) and Aban Offshore (2.95%).
The major losers in the BSE Smallcap were Abhishek Industries (4.79%), Aarti Industries (4.34%), A B G Infralogistics (2.38%), A K Capital Services (1.19%) and INEOS ABS (India) (0.01%).
Sectors in Limelight
The Realty index was at 2,946.95, down by 136.57 points or by 4.43%. The major losers were Ackruti City (19.99%), Indiabulls Real Estate (6.33%), Housing Development and Infrastructure (6.31%), Anant Raj Industries (5.83%) and D L F (4.22%).
The Consumer Durables index was at 6,378.99, down by 247.78 points or by 3.74%. The major losers were Gitanjali Gems (5.03%), Rajesh Exports (3.79%), Bajaj Electricals (3.05%), Whirlpool Of India (2.05%) and Blue Star (1.26%).
The IPO index was at 1,972.52, down by 40.72 points or by 2.02%. The major losers were Aqua Logistics (7.51%), ARSS Infrastructure Projects (5.77%), Aster Silicates (4.89%), Adani Power (4.13%) and Ashoka Buildcon (3.22%).
On the other hand, the IT index was at 6,231.93, up by 41.71 points or by 0.67%. The major gainers were H C L Technologies (1.53%), Infosys Technologies (0.87%), Mphasis (0.19%), Oracle Financial Services Software (0.07%) and Tata Consultancy Services (0.05%).
Market Breadth
Market breadth was negative with 644 advances against 2,263 declines.
Value and Volume Toppers
Gorani Industries topped the value chart on the BSE with a turnover of Rs. 0.00 million. It was followed by Welspun Corp (Rs. 962.31 million), State Bank Of India (Rs. 954.54 million) and Delta Corp (Rs. 846.17 million).
The volume chart was led by Cals Refineries with trades of over 18.90 million shares. It was followed by Karuturi Global (15.39 million), Delta Corp (7.89 million) and Birla Power Solutions (6.42 million).