The market is still trading weak as strong selling pressure continued across the board mainly led by the Capital Goods, Bank, Metal and Power stocks. However, significant buying witnessed in the IT stocks. The BSE Sensex is hovering around the 16, 400 mark and the NSE Nifty is trading near the 4900 mark. The broader market is also trading with a deep cut and in line with the benchmark index.
The overall market breadth is negative, as 627 stocks are advancing while 1792 stocks are declining and the 56 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 128.45 points at 6,808.66 and the BSE small Cap slipped by 133.74 points to trade at 8,383.69.
At 12.30 pm, BSE Sensex was at 16,421.99 down by 227.65 points and Nifty was at 4,889.95 down by 56.60 points.
BSE IT index inclined by 53.43 points to trade at 4,394.41 as TCS (2.96%), Infosys Technologies (1.60%), Wipro (0.55%) and HCL Technologies (0.44%) are trading in green.
BSE Oil & Gas index was trading 70.84 points lower at 10,904.42 as RPL (1.41%), BPCL (1.28%) and Gail India (0.77%) are trading in red.
BSE Metal index dropped by 271.84 points to trade at 16,523.96. The major losers are SAIL (3.07%), Tata Steel (2.21%), Hindalco Industries (2.20%) and Sterlite Industries (1.85%).
BSE Capital goods index declined by 286.30 points to 12,906.12. The main losers are BHEL (4.66%), L&T (2.95%), ABB (1.36%) and Siemens (1.25%).
BHEL has posted a decline of 3.43% in its net profit at Rs11108.70mn for the quarter ended March 31, 2008 as compared to Rs11503.70mn for the quarter ended March 31, 2007. However, for the year ended March, 31 2008, the company has posted an incline in its net profit by 18.41% to Rs 28593.40 mn as compared to Rs24147.00mn for the year ended March 31, 2007.
BSE Bankex index is trading lower by 144.90 points at 8,087.26. Losers are SBI (2.22%), HDFC Bank (1.48%), ICICI Bank (1.39%) and PNB (0.73%).
BSE Realty decreased by 84.13 points to 7,426.01. Leading to its fall are HDIL (3.05%), Parsavnath (2.61%), Ansal Infrastructure (2.56%) and Purvankara (2.60%).
BSE Power index slipped by 49.94 points to trade at 3,152.85 as Reliance Energy (3.11%), Tata Power (2.25%), NTPC (1.58%) and Power Grid (1%) are trading in negative.
Suzlon Energy is trading higher by (1.79%). The company has lined up funds which is required to increase its stake in REpower Systems AG- the German wind power equipment manufacturer. The company will be acquiring 53% stake held by French energy major Areva and Martifer, a Portugal based real estate business group.
BSE Auto declined by 72.87 points to 4,547.03. Leading to its fall are Maruti Suzuki (3.88%), Tata Motors (1.53%), Mahindra & Mahindra (1.37%) and Hero Honda (1.35%).
The overall market breadth is negative, as 627 stocks are advancing while 1792 stocks are declining and the 56 stocks remained unchanged on BSE.
The BSE Mid cap is lower by 128.45 points at 6,808.66 and the BSE small Cap slipped by 133.74 points to trade at 8,383.69.
At 12.30 pm, BSE Sensex was at 16,421.99 down by 227.65 points and Nifty was at 4,889.95 down by 56.60 points.
BSE IT index inclined by 53.43 points to trade at 4,394.41 as TCS (2.96%), Infosys Technologies (1.60%), Wipro (0.55%) and HCL Technologies (0.44%) are trading in green.
BSE Oil & Gas index was trading 70.84 points lower at 10,904.42 as RPL (1.41%), BPCL (1.28%) and Gail India (0.77%) are trading in red.
BSE Metal index dropped by 271.84 points to trade at 16,523.96. The major losers are SAIL (3.07%), Tata Steel (2.21%), Hindalco Industries (2.20%) and Sterlite Industries (1.85%).
BSE Capital goods index declined by 286.30 points to 12,906.12. The main losers are BHEL (4.66%), L&T (2.95%), ABB (1.36%) and Siemens (1.25%).
BHEL has posted a decline of 3.43% in its net profit at Rs11108.70mn for the quarter ended March 31, 2008 as compared to Rs11503.70mn for the quarter ended March 31, 2007. However, for the year ended March, 31 2008, the company has posted an incline in its net profit by 18.41% to Rs 28593.40 mn as compared to Rs24147.00mn for the year ended March 31, 2007.
BSE Bankex index is trading lower by 144.90 points at 8,087.26. Losers are SBI (2.22%), HDFC Bank (1.48%), ICICI Bank (1.39%) and PNB (0.73%).
BSE Realty decreased by 84.13 points to 7,426.01. Leading to its fall are HDIL (3.05%), Parsavnath (2.61%), Ansal Infrastructure (2.56%) and Purvankara (2.60%).
BSE Power index slipped by 49.94 points to trade at 3,152.85 as Reliance Energy (3.11%), Tata Power (2.25%), NTPC (1.58%) and Power Grid (1%) are trading in negative.
Suzlon Energy is trading higher by (1.79%). The company has lined up funds which is required to increase its stake in REpower Systems AG- the German wind power equipment manufacturer. The company will be acquiring 53% stake held by French energy major Areva and Martifer, a Portugal based real estate business group.
BSE Auto declined by 72.87 points to 4,547.03. Leading to its fall are Maruti Suzuki (3.88%), Tata Motors (1.53%), Mahindra & Mahindra (1.37%) and Hero Honda (1.35%).
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