Tuesday, March 18, 2008

Mid Session Market

The market has recover slightly from the day''s low after the market reopens from the Sun outage. The significant buying is seen in the large cap stocks mainly led by the Capital Goods and IT stocks. However, the broader market is trading with significant loss. The strong selling pressure is witnessed in the Metal, Bank and Realty stocks. The overall market breadth remains extremely negative, as 544 stocks are advancing while 1938 stocks are declining and the 54 stocks remained unchanged on BSE.

The BSE Mid cap is lower by 133.71 points at 5,990.64 and the BSE small Cap dropped by 190.78 points to trade at 7,331.45.At 12.50 pm, BSE Sensex was at 14,836.33 up by 26.84 points and Nifty was at 4,516.15 up by 13.05 points.

BSE Capital goods index advanced by 110 points to 12,816. The main gainers are BHEL(2.06%), L&T (1.22%), Siemens (1.12%) and ABB (0.96%).BHEL has bagged Rs.20.30 billion equipment supply contract from Bhartiya Rail Bijlee Co Ltd, a joint venture formed by central utility National Thermal Power Corp (NTPC) and Indian Railways to implement the project.

BSE Oil & Gas index was trading 109 points higher at 9,911 as BPCL (4.35%), ONGC (1.42%) and GAIL India (0.74%) are trading in green.

BSE Power index increased by 34 points to trade at 3,008 as Reliance Energy (3.36%), Power Grid (1.09%) and NTPC (1.06%) are trading in green.

BSE IT index inclined by 42 points to trade at 3,340 as TCS (3.03%), Satyam (2.19%), Wipro (1.69%) and Infosys Technologies (0.82%) are trading in green.

BSE Metal index dropped by 309 points to trade at 13,417. The major losers are Sterlite Industries (7.32%), Tata Steel (3.03%), SAIL (2.12%) and Hindalco Industries (1.83%).

BSE Banks index slipped by 152 points to trade at 7,415. The top losers are HDFC Bank (2.69%), SBI (1.83%), ICICI Bank (1.32%) and PNB (0.44%).

BSE Auto index slipped by 26 points to trade at 4,303. Leading to its fall are Appolo Tyre (2.35%), TVS Motors (1.34%), Mahindra & Mahindra (1.26%) and MRF (0.51%).

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