Tuesday, January 8, 2008

Mid Session Market

The market has slipped from the day''s high and is trading firm. The heavy selling witnessed in the selective scrips mainly led by the Metal and Realty stocks. The Mid Cap and Small Cap stocks are in pressure today as heavy selling is seen in these scrips. The overall market breadth turns negative, as 701 stocks are advancing while 2166 stocks are declining and the 24 stocks remained unchanged on BSE.

Manaksia got listed on the bourses at Rs 180 versus its issue price of Rs 160.

The BSE Mid cap is lower by 139.26 points at 9,962.97 and the BSE small Cap slipped by 237.98 points to trade at 13,737.81.

At 12.31 pm, BSE Sensex was at 20,939.96 up by 127.31 points whereas Nifty was at 6,302.30 up by 23.10 points.

BSE Banks index slipped by 12.78 points to trade at 12,179.21. The top losers are ICICI Bank (1.60%) and PNB (0.87%) are trading lower while SBI (3.29%) and HDFC Bank (3.08%) are trading higher.

HDFC bank is entering investment banking which is highly competitive and hugely profitable business. With its entry into the investment banking space, the Bank has planned to leverage its strong client base in the wholesale banking business

BSE Capital goods index advanced 150.22 points to 20,300.78. The main gainers are L&T (1.49%) and Siemens (1.38%) whereas BHEl (0.36%) and ABB (0.13%) are top losers.

BSE Auto index decreased by 7.06 points to trade at 5,658.66. Leading to its fall are Hero Honda Motors (1.14%), Maruti Suzuki (0.83%) and Tata Motors (0.13%).

BSE Oil & Gas index was trading 131.98 points higher at 14,106.28 as ONGC (2%), GAIL (1.73%) and RPL (0.40%) are trading in green.

BSE Power index inclined by 13.89 points to trade at 4,856.91 as Suzlon Energy (3.73%) is trading higher while Tata Power (2.11%) and NTPC (1.86%) are trading lower.

BSE Metal index dropped by 177.59 points to trade at 19,964.37. The major losers are Hindalco Industries (2.75%), Sterlite Industries (1.59%), SAIL (1.48%) and Tata Steel (1.30%).

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