Monday, March 10, 2008

Mid Session Market

The market is still trading in the deep red with a heavy gap down after the market reopens from the Sun Outage period. The market is facing strong selling pressure across the board mainly led by the Capital Goods, Metal, Bank and Realty stocks. The BSE Mid Cap and Small Cap are also trading in line with the benchmark index. The overall market breadth remains extremely negative, as 234 stocks are advancing while 2243 stocks are declining and the 23 stocks remained unchanged on BSE. The BSE Mid cap is lower by 287.14 points at 6,517.25 and the BSE small Cap dropped by 433.58 points to trade at 7,975.60.

At 12.31 pm, BSE Sensex was at 15,608.22 down by 367.30 points and Nifty was at 4,704.70 down by 66.90 points.

BSE Capital goods index dropped by 1,090.97 points to 12,934.15. The main losers are L&T (10.25%), BHEL (6.03%), Siemens (5.26%) and ABB (2.81%).

BSE Metal index dropped by 427.14 points to trade at 15,026.46. The major losers are NALCO (4.46%), Hindalco Industries (4.06%), SAIL (3.02%) and Tata Steel (1.29%).

BSE IT index declined by 49.39 points to trade at 3,589.05 as Wipro (2.16%), Satyam (2.14%), and TCS (0.47%) are trading in red.

BSE Health Care index declined by 86.11 points to trade at 3,739.84 as GSK Pharma (4.59%), Ranbaxy (2.53%), Dr. Reddy (1.76%) and Sun Pharma (0.46%) are trading in negative.

BSE Auto index decreased by 108.85 points to trade at 4,525.85. Leading to its fall are Bajaj Auto (5.83%), Maruti Suzuki (3.66%), Hero Honda (1.04%) and Tata Motors (0.60%).

BSE Oil & Gas index was trading 287.88 points lower at 9,735.03 as BPCL (1.38%), RPL (1.30%), and Gail India (1.27%) are trading in red.Cairn India has bid on oil and exploration blocks 001 and 002 in Sri Lanka under the ongoing Sri Lankan Licensing round and said it will undertake exploratory drilling in new areas in Rajasthan.

BSE Banks index slipped by 328.18 points to trade at 8,941.28. The top losers are ICICI Bank (3.92%), HDFC Bank (3.35%), SBI (1.90%) and PNB (1.40%).

No comments: