The market is trading lower as selling pressure continued in the selective scrips mainly led by the Bank, Consumer Durables and Metal stocks. However, the Realty, IT and Auto stocks have maintained their position and are still trading higher. The broader market has outperformed the benchmark index from the opening bell ad is trading trading with significant gains.
The overall market breadth is marginally negative, as 1262 stocks are advancing while 1279 stocks are declining and the 55 stocks remained unchanged on BSE.
The BSE Mid cap is higher by 36.59 points at 7,074.21 and the BSE small Cap advanced by 12.63 points to trade at 8,810.71.
At 12.37 pm, BSE Sensex was at 16,639.55 down by 144.52 points and Nifty was at 5,020 down by 29.30 points.
BSE Realty index surged by 142.92 points to trade at 8,049.06. Leading to its gain are Mahindra Life (4.12%), Omaxe Ltd. (3.39%), Parsavnath (3%), India Bull Real (3.50%) and Unitech (2.50%).
Unitech is investing $200mn in Tamil Nadu for making a foray into telecom over the next two years.
BSE Metal index dropped by 153.34 points to trade at 15,376.04. The major losers are SAIL (4.85%), JSW Steel (3.01%), Hindalco Industries (2.25%) and Jindal Steel (1.97%).
BSE Capital goods index slipped by 141.97 points to 13,786.74. The main losers are Siemens (1.99%), BHEL (1.75%), L&T (0.98%) and ABB (0.82%).
BSE Oil & Gas index was trading 25.73 points lower at 11,451.66 as BPCL (2.11%), HPCL (0.40%) and Indian Oil (0.11%) are trading in red.
BSE Banks index dropped by 206.19 points to trade at 8,510.64. The top losers are HDFC Bank (4.33%), ICICI Bank (3.04%), SBI (2.01%) and PNB (0.06%).
BSE IT index grew by 12.65 points to trade at 3,943.12 as Wipro (2.11%), TCS (0.86%) and Infosys Technologies (0.68%) are trading in green.
Wipro and Microsoft Corporation has announced their expansion of their strategic alliance by opening of two centres of excellence in Bangalore and Mysore. These centres will provide solutions and service using Windows Vista and Microsoft Unified communications and this alliance will also enable the customers to take full advantage of Microsoft’s technologies.
BSE Power index decreased by 11 points to trade at 3,307.13 as Suzlon Energy (2.59%), Power Grid (0.38%) and Crompton Greaves (0.17%) are trading in negative.
NTPC is trading higher by (0.41%) as the company and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.
BSE Auto index inclined by 17.02 points to trade at 4,563.23. Leading to its gain are TVS Motor (1.68%), Maruti Suzuki (1.35%), Tata Motors (0.57%) and Mahindra & Mahindra (0.42%).
BSE Health Care index increased by 5.45 points to trade at 4,197.71 as Divi’s Lab (3.28%), Glenmark Pharma (2.46%), Aventis Pharma (0.75%), Orchid Chemicals (0.42%) are trading in positive.
Ranbaxy Laboratories is trading lower by (0.24%). The company has decided to enter into a business alliance with Chennai-based Orchid Chemicals & Pharmaceuticals Ltd, rather than mount a hostile takeover bid through an open offer by wholly-owned subsidiary Solrex Pharmaceuticals Ltd.
The overall market breadth is marginally negative, as 1262 stocks are advancing while 1279 stocks are declining and the 55 stocks remained unchanged on BSE.
The BSE Mid cap is higher by 36.59 points at 7,074.21 and the BSE small Cap advanced by 12.63 points to trade at 8,810.71.
At 12.37 pm, BSE Sensex was at 16,639.55 down by 144.52 points and Nifty was at 5,020 down by 29.30 points.
BSE Realty index surged by 142.92 points to trade at 8,049.06. Leading to its gain are Mahindra Life (4.12%), Omaxe Ltd. (3.39%), Parsavnath (3%), India Bull Real (3.50%) and Unitech (2.50%).
Unitech is investing $200mn in Tamil Nadu for making a foray into telecom over the next two years.
BSE Metal index dropped by 153.34 points to trade at 15,376.04. The major losers are SAIL (4.85%), JSW Steel (3.01%), Hindalco Industries (2.25%) and Jindal Steel (1.97%).
BSE Capital goods index slipped by 141.97 points to 13,786.74. The main losers are Siemens (1.99%), BHEL (1.75%), L&T (0.98%) and ABB (0.82%).
BSE Oil & Gas index was trading 25.73 points lower at 11,451.66 as BPCL (2.11%), HPCL (0.40%) and Indian Oil (0.11%) are trading in red.
BSE Banks index dropped by 206.19 points to trade at 8,510.64. The top losers are HDFC Bank (4.33%), ICICI Bank (3.04%), SBI (2.01%) and PNB (0.06%).
BSE IT index grew by 12.65 points to trade at 3,943.12 as Wipro (2.11%), TCS (0.86%) and Infosys Technologies (0.68%) are trading in green.
Wipro and Microsoft Corporation has announced their expansion of their strategic alliance by opening of two centres of excellence in Bangalore and Mysore. These centres will provide solutions and service using Windows Vista and Microsoft Unified communications and this alliance will also enable the customers to take full advantage of Microsoft’s technologies.
BSE Power index decreased by 11 points to trade at 3,307.13 as Suzlon Energy (2.59%), Power Grid (0.38%) and Crompton Greaves (0.17%) are trading in negative.
NTPC is trading higher by (0.41%) as the company and BHEL will invest Rs50 million to form a joint venture company to carry out engineering, procurement and construction contracts for power plants and other infrastructure projects.
BSE Auto index inclined by 17.02 points to trade at 4,563.23. Leading to its gain are TVS Motor (1.68%), Maruti Suzuki (1.35%), Tata Motors (0.57%) and Mahindra & Mahindra (0.42%).
BSE Health Care index increased by 5.45 points to trade at 4,197.71 as Divi’s Lab (3.28%), Glenmark Pharma (2.46%), Aventis Pharma (0.75%), Orchid Chemicals (0.42%) are trading in positive.
Ranbaxy Laboratories is trading lower by (0.24%). The company has decided to enter into a business alliance with Chennai-based Orchid Chemicals & Pharmaceuticals Ltd, rather than mount a hostile takeover bid through an open offer by wholly-owned subsidiary Solrex Pharmaceuticals Ltd.
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