Tuesday, March 4, 2008

Mid Session Market

The market has lost further grounds from the opening trade as strong selling continued across the board mainly led by the Capital Goods, Realty, Bank and Oil & Gas stocks. The broader market is also trading with a deep cut and has under performed the benchmark index. The overall market breadth remains extremely negative, as 320 stocks are advancing while 2177 stocks are declining and the 36 stocks remained unchanged on BSE. The BSE Mid cap is lower by 208.58 points at 7,156.27 and the BSE small Cap dropped by 306.18 points to trade at 8,932.17.

At 12.31 pm, BSE Sensex was at 16,383.75 down by 294.13 points and Nifty was at 4,872.55 down by 80.45 points.

BSE Health Care index declined by 48.46 points to trade at 3,872.70 as Fortis Health (4.19%), Divi''s Lab (3.13%), Glenmark Pharma (2.93%) and Cipla (2.72%) are trading in negative.

BSE Auto index decreased by 4.14 points to trade at 4,843.91. Leading to its fall are TVS Motor (3.28%), MRF (3.60%), Ashok Leyland (2.04%) and Amtek Auto (2.09%).

BSE Capital goods index dropped by 405.67 points to 14,776.96. The main losers are L&T (3.20%), ABB (2.33%), BHEL (1.71%) and Siemens (1.32%).

BSE Metal index dropped by 311.31 points to trade at 15,487.56. The major losers are NALCO (1.50%), Sterlite Industries (1.15%), Hindalco Industries (1.05%) and SAIL (0.43%).

BSE Oil & Gas index was trading 196.81 points lower at 10,225.30 as BPCL (6.21%), Cairn India (4.05%), GAIL India (1.98%) and RPL (1.85%) are trading in red.

BSE Banks index slipped by 470.10 points to trade at 8,964.34. The top losers are ICICI Bank (5.17%), PNB (3.30%), HDFC Bank (3.09%) and SBI (1.98%).

BSE Power index decreased by 78.48 points to trade at 3,359.27 as GVK Power (8.27%), Torent Power (5.59%), Suzlon Energy (4.76%) and Tata Power (3.22%) are trading in red.

BSE IT index declined by 57.43 points to trade at 3,635.06 as Tech. Mahindra (1.97%), Pati Computer (1.94%), I-flex (1.48%) and Satyam (0.11%) are trading in red

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